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

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