FINRA Fines Houlihan Capital and President David Smith

Posted on December 20th, 2016 at 9:34 AM
FINRA Fines Houlihan Capital and President David Smith

From the Desk of Jim Eccleston at Eccleston Law LLC:

Houlihan Capital, LLC of Chicago, Illinois has submitted a Letter of Acceptance, Waiver and Consent (AWC) for its participation in the offering of a private placement of securities for a companyseeking to raise $5 million through the sale of subordinated convertible promissory notes.

The findings stated that Houlihan Capital misled investors by providing inaccurate or misleadinginformation related to the risks and benefits of the offering.

Without admitting or denying the findings, Houlihan Capital consented to the sanctions and to the entry of findings. In the AWC, Houlihan Capital was censured and fined $25,000,$5,000 of which was joint and several with Andrew David Smith, the firm’s president, chief compliance officer (CCO) and part-owner. Mr. Smith also was suspended from the industry for 10 business days.

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 broker litigation & arbitration, transition contract review, employment matters, FINRA defense , 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, FINRA, Houlihan Capital, Letter of Acceptance, Waiver and Consent, AWC, promissory notes, investors, Andrew David Smith, CCO, suspended

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