← Broker database 2024-09-09
FINRA Bars Zev Marten Bishop for Failure to Provide Information Under Rule 9552(h)
According to FINRA, Zev Marten Bishop (CRD #5826058) of Sarasota, Florida 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 #2023079377301. FINRA Rule 9552(h) provides that if a person who is subject to a suspension under Rule 9552 for failure to provide information or keep information current fails to comply within the allotted time, the suspension converts to a permanent bar from the securities industry. A bar is the most severe administrative sanction available under this rule, permanently prohibiting the individual from associating with any FINRA member firm in any capacity. This means Bishop can no longer work as a registered representative, financial advisor, or in any other role at a FINRA-regulated firm. The distinction between a suspension and a bar under Rule 9552 is significant. A suspension is a temporary measure designed to compel compliance, whereas a bar is a permanent exclusion from the industry. When an individual fails to comply with the information request even after being suspended, FINRA concludes that the individual has no intention of cooperating with its regulatory requirements, and the suspension automatically converts to a bar under subsection (h) of the rule. The obligation to provide information to FINRA is one of the most fundamental responsibilities of every registered person in the securities industry. FINRA Rule 8210 grants FINRA the authority to request information and testimony from current and former associated persons as part of its investigations and examinations. When individuals refuse to cooperate with these requests, it directly impairs FINRA's ability to protect investors and maintain the integrity of the securities markets. Investors should understand that a bar from the securities industry is a serious regulatory action. If an individual who has been barred by FINRA attempts to sell securities or provide investment advice, that activity would be in violation of federal securities laws. Investors can verify the registration status and regulatory history of any financial professional by using FINRA's free BrokerCheck tool available online.