← Broker database 2026-04-22
New Jersey Broker Glenn Romer Suspended for Failure to Comply with Arbitration Award
According to FINRA, Glenn J. Romer was suspended from association with any FINRA member effective April 22, 2026, pursuant to FINRA Rule Series 9554, for failure to comply with an arbitration award or related settlement or an order of restitution.
FINRA Rule Series 9554 provides the regulator with authority to suspend registered persons who fail to honor their obligations under arbitration awards, settlements, or restitution orders. These obligations arise from the formal dispute resolution process that FINRA administers for investors who have suffered losses attributable to broker misconduct. An arbitration award or settlement represents a legally binding determination that a financial obligation is owed—and a broker who refuses to pay that obligation is not merely in breach of contract but is in violation of FINRA rules.
The suspension imposed under Rule 9554 serves two purposes: it removes the non-compliant individual from active industry participation until they fulfill their obligations, and it signals to other investors and market participants that the individual has failed to honor a legal and regulatory commitment. FINRA BrokerCheck reflects any active Rule 9554 suspensions, providing prospective clients with an important indicator of a broker's compliance history.
For New Jersey investors who have prevailed in arbitration proceedings or reached settlements with brokers, FINRA's Rule 9554 enforcement process is an important tool for compelling payment. Investors who are experiencing difficulties collecting awarded amounts should contact FINRA's Office of Dispute Resolution for guidance.
Checking FINRA BrokerCheck before working with any broker or financial adviser provides investors with access to disclosure information, including any regulatory sanctions, arbitration awards, and compliance history that may be relevant to evaluating that individual's fitness to manage customer assets.