Dupree Financial Group Fined $25,000 and Censured for Compliance Failures

Posted on October 20th, 2016 at 11:36 AM
Dupree Financial Group Fined $25,000 and Censured for Compliance Failures

From the Desk of Jim Eccleston at Eccleston Law LLC:

The SEC has fined and censured Dupree Financial Group, LLC (Dupree Financial) $25,000 for compliance failures. According to the SEC, Dupree Financial, a registered investment advisor, failed to conduct annual compliance reviews for a number of years and named an unqualified administrative assistant as its CCO.  Dupree Financials’ appointed CCO never obtained any formal training concerning the compliance requirements of the Advisers Act.

Dupree Financial has neither admitted nor denied the SEC’s findings, but has consented to the sanctions.

Even though Dupree Financial retained external compliance consultants to assist in developing its compliance program, it made significant compliance errors.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including breakaway broker servicesemployment mattersstrategic consulting and counselingbroker litigation and arbitration,whistleblower actions, and much more. 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

Tags: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston, Dupree Financial Group, SEC, Depree Financial Group LLC, investment advisor, CCO, compliance reviews, Advisers Act

Return to Archive

TESTIMONIALS

Previous
Next

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

June 30, 2022
FINRA Fines United Planners Over GPB Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has fined United Planners’ Financial Services of America over negligent sales of private placements issued by GPB Capital Holdings.

June 29, 2022
J.P. Morgan Advisors Ordered To Pay Former Partner $620,000

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered a J.P. Morgan team to pay their former partner at least $620,000 over the dissolution of a partnership.

June 28, 2022
JP Morgan Manager Reveals Issues Regarding ESG Loan Pitches

The market for sustainability-linked loans is still severely prone to “greenwashing”, or investing more time and effort into marketing itself as environmentally friendly rather than actually minimizing its environmental impact, according to one of J.P. Morgan’s managers who often helps to sort through debt that is pitched to the company.