Eccleston Law Continues Its Defense of Former Wells Fargo Investment Bankers Related to Dinner Expense Reimbursements

Posted on November 26th, 2018 at 4:00 PM
Eccleston Law Continues Its Defense of Former Wells Fargo Investment Bankers Related to Dinner Expense Reimbursements

From the Desk of Jim Eccleston at Eccleston Law LLC:

FINRA Enforcement continues to issue Rule 8210 inquiries to former investment bankers at Wells Fargo who allegedly violated the firm’s expense reimbursement policies with respect to reimbursement requests for dinner expenses.

While those FINRA Enforcement  inquiries are part of a newer FINRA initiative to reign in misbehavior with respect to expense reimbursements, this latest effort – now one national in scope -- raises questions as to whether FINRA Enforcement has missed the mark, and whether its time would be better spent on other, more pressing matters. For example, is it really worth FINRA’s time to sanction (including to suspend) an investment banker working late into the evening because he or she ordered a meal 30 minutes earlier than the permitted hour in order to ensure that the meal would be delivered to him or her within an acceptable dinner time-frame?

In our view, the CRD disclosures filed by Wells Fargo are inaccurate and incomplete, and in some instances are defamatory.  Eccleston Law is investigating claims of defamation against Wells Fargo, and is defending against related FINRA Enforcement inquiries nationwide.  Contrary to approaches taken by other lawyers, we have and will continue to argue that the bankers have done nothing wrong, and that no sanctions are justified. The stakes are high, given that such sanctions would be reportable on BrokerCheck and on the CRD.   

Feel free to contact us to discuss your claim for defamation against Wells Fargo and your defense against the FINRA Enforcement inquiry.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, 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: james eccleston, eccleston law, eccleston law llc, eccleston, wells fargo,

Return to Archive

TESTIMONIALS

Previous
Next

I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y

LATEST NEWS AND ARTICLES

January 25, 2022
Top FINRA Initiatives For 2022

A host of new initiatives are ahead in 2022 at the Financial Industry Regulatory Authority (FINRA), according to CEO Robert Cook.

January 24, 2022
FINRA Set To Issue Crypto Notice And Consider Expungement Reform

The Financial Industry Regulatory Authority (FINRA) is set to issue a regulatory notice pertaining to cryptocurrency as well as expungement reform.

January 21, 2022
CFP Board Establishes New Appeals Commission

The Certified Financial Planner (CFP) Board of Standards has established a new Appeals Commission. As the name suggests, the Appeals Commission possesses the sole authority to adjudicate appeal hearings.