← Broker database 2024-09-09
FINRA Bars Mariah Nagy for Failure to Provide Information Under Rule 9552(h)
According to FINRA, Mariah Nagy (CRD #7317776) of North Royalton, Ohio was barred from the securities industry for failure to provide information or keep information current pursuant to FINRA Rule 9552(h). The bar became effective on September 9, 2024. This action is associated with FINRA Case #2023078844701. FINRA Rule 9552(h) provides that if a person who is subject to a suspension under Rule 9552 for failing to provide information or keep information current does not comply within the required timeframe, the suspension automatically converts to a permanent bar from the securities industry. A bar is the most consequential administrative sanction under this rule, as it permanently prohibits the individual from associating with any FINRA member firm in any capacity. Nagy is now permanently barred from working as a registered representative, financial advisor, or in any other role at a FINRA-regulated broker-dealer firm. The process that leads to a bar under Rule 9552(h) is designed to be fair and transparent. FINRA first issues a notice to the individual identifying the specific information deficiency and providing a deadline for compliance. If the individual fails to comply by the deadline, a suspension takes effect. The suspension serves as both a sanction for non-compliance and an incentive to comply. If the individual still does not provide the requested information after being suspended, the suspension converts to a permanent bar. This escalating approach gives individuals multiple opportunities to comply before the harshest sanction is imposed. FINRA's authority to request information from registered persons and former registered persons is critical to its regulatory mission. Under FINRA Rule 8210, FINRA can request documents, information, and testimony from associated persons as part of its investigations and examinations. This authority enables FINRA to investigate potential misconduct, protect investors from harm, and ensure the overall integrity of the securities markets. When individuals refuse to cooperate with these requests, it directly undermines FINRA's ability to carry out its investor protection mandate. Investors should always check the background of any financial professional before making investment decisions. FINRA's BrokerCheck is a free tool that provides detailed information about the professional background, registration status, and any disciplinary actions taken against brokers and brokerage firms.