According to FINRA, Frey D. Pena Perez was barred from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(h) for failing to provide information or keep information current as required.
FINRA Rule 9552 provides a mechanism for addressing situations where registered persons fail to comply with information requests or fail to maintain current registration information. The rule establishes a progressive process that can ultimately result in a permanent bar.
Pena Perez's bar became effective on October 10, 2025.
The requirement to provide information to FINRA is a fundamental obligation of registration. When individuals accept the privilege of working in the securities industry, they also accept the responsibility to cooperate with regulatory oversight. Failure to meet this responsibility results in removal from the industry.
For investors, this case reinforces the importance of conducting due diligence on financial professionals. Before entrusting anyone with your investments, check their background through FINRA's BrokerCheck system. This free tool provides information about registration status, employment history, and any disciplinary actions.
If you discover that someone who has been advising you on investments is not registered or has been barred, you should immediately cease working with them. Unregistered individuals lack the training, supervision, and regulatory oversight that help protect investors.
If you worked with Pena Perez and have concerns about your accounts, review your statements carefully and consider seeking professional advice about your options.