According to FINRA, Wood (Arthur W.) Company, Inc. was expelled from FINRA membership pursuant to FINRA Rule 9552 for failure to provide information or keep information current.

The Boston, Massachusetts firm's expulsion became effective on September 29, 2025. FINRA Rule 9552 authorizes FINRA to suspend or cancel the membership of a firm that fails to provide information or documents requested pursuant to FINRA Rule 8210, or that fails to keep its membership information current.

Expulsion is the most severe sanction that can be imposed on a member firm. When a firm is expelled, it can no longer conduct securities business through FINRA. This sanction is imposed when a firm fails to meet its fundamental obligations to cooperate with FINRA oversight.

The requirement to provide information and keep membership information current is essential to FINRA's ability to oversee its member firms and protect investors. Firms that fail to cooperate with FINRA's regulatory requests undermine the entire regulatory system.

While the specific circumstances leading to Wood (Arthur W.) Company's expulsion are not detailed in the disciplinary action notice, the firm's failure to provide required information or maintain current records prevented FINRA from effectively supervising the firm's activities.

Investors who had accounts at Wood (Arthur W.) Company should ensure their assets are properly transferred to another broker-dealer. The expulsion of a firm does not affect customer ownership of securities, but customers should verify that their accounts have been properly handled.

This case demonstrates that FINRA has effective tools to address firms that fail to cooperate with regulatory oversight, protecting investors from firms that cannot be properly supervised.