← Broker database 2026-03-09
Keith Wesley Schongar Suspended from Securities Industry for Failure to Provide Information to FINRA
According to FINRA, Keith Wesley Schongar (CRD #6215149) of Hurricane, West Virginia, was suspended from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(d) for failure to provide information or keep information current as required by FINRA. The suspension became effective on March 9, 2026, under FINRA Case #2025086941701.
FINRA Rule 9552(d) provides a prompt and effective mechanism for FINRA to enforce one of the most basic obligations of securities industry registration: the duty to provide information to FINRA upon request and to keep registration disclosures current at all times.
Registered persons are required to update their Form U4 — the Uniform Application for Securities Industry Registration — whenever reportable events occur in their professional or personal lives. Reportable events include customer complaints, regulatory inquiries, criminal charges, civil judgments, and certain financial events such as bankruptcies or unpaid tax liens. The Form U4 is the primary tool through which FINRA and investors learn about a broker's background and track record. When this information is not kept current, the system that investors rely on for background checks becomes incomplete and unreliable.
Schongar's suspension reflects a breakdown in this disclosure system. During the period of suspension, he may not perform any functions at a FINRA member firm requiring FINRA registration. If the deficiency that triggered the suspension is not remedied within the applicable period, it may escalate to a permanent bar under FINRA Rule 9552(h).
Investors who have worked with a suspended broker should review their account statements and transaction history for any unusual or unauthorized activity. They should also verify the current registration status of any financial professional they work with through FINRA BrokerCheck, which reflects real-time registration status and all disciplinary history.