Broker Fined and Suspended

Posted on August 8th, 2016 at 3:11 PM
Broker Fined and Suspended

From the Desk of Jim Eccleston at Eccleston Law LLC:

A Texas broker named William Wesley Marshall, associated with Ameriprise Financial Services, Inc. in its Plano, Texas office, was fined $10,000 and suspended for 15 months by FINRA.  FINRA asserted that Mr. Marshall participated in the sale of $1.72 million of privately-issued stock without having provided prior written notice to his member firm. Mr. Marshall neither admitted nor denied FINRA’s findings which also included:

  • Mr. Marshall’s engagement and inaccurate attestment of outside business activity without providing prior written notice to his firm.
  • Mr. Marshall’s use of a personal email account to communicate with customers which in turn allowed him to avoid firm supervision.
  • Mr. Marshall distributed to investors sales literature which contained misleading, exaggerated, and inadequate risk disclosures.

The FINRA case number for this matter is #2012033291204 and this decision is posted on http://disciplinaryactions.finra.org/ for public reference.

 The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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