← Broker database 2026-03-27
Michael Barrows Suspended from Securities Industry for Failure to Pay FINRA Dues and Fees
According to FINRA, Michael Barrows (CRD #2933260) of Ladera Ranch, California, was suspended from association with any FINRA member in all capacities pursuant to FINRA Rule 9553 for failure to pay FINRA dues, fees, and other charges. The suspension became effective on March 27, 2026.
FINRA Rule 9553 provides FINRA with authority to suspend any member or associated person who fails to pay required dues, fees, and other charges. These financial obligations are a condition of FINRA membership and registration, and failure to meet them can result in suspension of all activities requiring FINRA registration.
FINRA's dues and fees fund the regulatory operations that protect investors: examinations of member firms, enforcement of rules against misconduct, investor education programs, and the operation of BrokerCheck and other investor tools. The obligation to pay FINRA dues is therefore not merely an administrative requirement — it is a contribution to the investor protection infrastructure that the entire industry depends on.
A suspension under FINRA Rule 9553 for failure to pay dues is distinct from suspensions for misconduct, but it carries the same practical effect: the suspended individual may not perform any activities requiring FINRA registration until the financial obligation is satisfied and the suspension is lifted. This means Barrows may not accept customer orders, provide investment advice requiring registration, receive commissions, or perform supervisory functions during the period of suspension.
The public listing of fee-related suspensions is an important transparency measure. Investors who discover that their broker has been suspended — even for what appears to be an administrative reason — should ask their firm about the current status of the broker's registration and whether any advisory or trading activities have continued in compliance with applicable rules.
FINRA BrokerCheck reflects the current registration status of all FINRA-registered individuals and should be consulted regularly by investors to ensure their financial professional's registrations are active and in good standing.