FINRA Bars Former Advisor After His Assistant Took CE Classes for Him

Posted on July 16th, 2021 at 1:31 PM
FINRA Bars Former Advisor After His Assistant Took CE Classes for Him

From the Desk of Jim Eccleston at Eccleston Law:

The Financial Industry Regulatory Authority (FINRA) has barred a former advisor who allegedly used an “impostor” to complete his FINRA Regulatory Element continuing education training and three non-FINRA CE courses in 2018. Matthew Logan had his assistant take the classes for him while he was a registered advisor at Hornor, Townsend & Kent. According to FINRA, Logan’s conduct violated FINRA Rule 2010. FINRA Rule 2010 enforces standards of commercial honor and principles of trade in the industry. 

According to BrokerCheck, Logan joined Hornor, Townsend & Kent in 2010. When Logan was fired from the firm in January 2019, he joined Equity Services Inc. (ESI) as a registered advisor. However, ESI filed a Form 5 Uniform Termination Notice announcing that ESI terminated Logan’s association as he was no longer registered in his own state of Massachusetts. According to FINRA, Logan testified that his firm’s sales targets had become so exorbitant that he could not keep up with them. In November 2018, the firm’s supervisory department conducted a “routine email review”, which produced emails indicating that Logan’s assistant had completed his Regulatory Element, according to FINRA. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, finra, barred advisor

Return to Archive



If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.


May 17, 2024
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

May 16, 2024
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.


May 15, 2024
NFA Issues Order Against Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.