According to FINRA, Stalin Alfredo Cruz (CRD #2503461), a registered representative based in Bayside, New York, was barred from the securities industry effective January 16, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h). The associated FINRA Case number is 2020066757802.

FINRA Rule 9552(h) empowers FINRA to permanently bar individuals from the securities industry when they fail to cooperate with regulatory investigations by not providing requested information. The obligation to cooperate with FINRA is a condition of registration in the securities industry. Every individual who obtains a securities license agrees to be bound by FINRA's rules, which include the duty to respond to information requests promptly and completely.

The case number assigned to Cruz's matter, 2020066757802, indicates that the underlying investigation likely began in 2020, meaning this matter was pending for approximately four years before the bar was imposed. This extended timeline suggests that FINRA made repeated efforts to obtain the requested information and gave Cruz ample opportunity to comply before taking final action. The fact that Cruz did not provide the information despite this extended period led to the permanent bar.

A bar under Rule 9552(h) is among the most severe sanctions FINRA can impose through its expedited proceedings. It permanently prohibits the individual from associating with any FINRA member firm in any capacity, whether as a registered representative, a supervisor, or in any other role. This effectively ends the individual's career in the mainstream securities industry.

For investors, particularly those in the Bayside, New York area who may have worked with Stalin Alfredo Cruz, this action means he can no longer legally conduct securities business through any FINRA-regulated firm. Investors who had accounts managed by Cruz should ensure their accounts have been properly transitioned to another qualified representative. Additionally, investors should be vigilant about verifying the credentials and disciplinary history of any financial professional they work with. FINRA's BrokerCheck tool provides free access to the registration and disciplinary records of brokers and firms. Regularly checking this resource helps investors avoid working with individuals who have been sanctioned or barred by regulators, thereby reducing their risk of becoming victims of fraud or other misconduct.