Sherwin Sargeant, of Orlando, Florida, a stockbroker previously associated with PlanMember Securities Corporation, has been permanently barred by Financial Industry Regulatory Authority (FINRA) as of November 5, 2024. The regulatory action stems from Sargeant’s refusal to appear for testimony as requested by FINRA under Rule 8210. The testimony was sought in connection with FINRA’s investigation into Sargeant’s involvement with undisclosed outside business activities, including activities potentially related to crypto assets. Sargeant consented to the sanction without admitting or denying the findings, as documented in Letter of Acceptance, Waiver, and Consent No. 2023079285701.
The investigation followed PlanMember Securities Corporation’s filing of a Uniform Termination Notice for Securities Industry Registration (Form U5) on July 14, 2023. The firm disclosed that Sargeant had voluntarily resigned on June 15, 2023, while under internal review for undisclosed outside business activities identified during an email review and background check. Sargeant cooperated with the initial stages of the review but resigned before providing all requested information.
By refusing to appear, Sargeant violated FINRA Rules 8210 and 2010, which require compliance with high standards of commercial honor and equitable principles of trade. The bar prevents Sargeant from associating with any FINRA member in any capacity indefinitely.
Sargeant was registered with PlanMember Securities Corporation from December 18, 2019, to July 14, 2023.
