Former Independent Financial Group Broker Barred

Posted on August 12th, 2016 at 9:39 AM
Former Independent Financial Group Broker Barred

From the Desk of Jim Eccleston at Eccleston Law LLC:

The Financial Industry Regulatory Authority (FINRA) recently barred a broker by the name of Brian James Egan from Laguna Nigel, California, after he failed to disclose 87 outside trading accounts to his employer Independent Financial Group.  Mr. Egan also failed to respond to FINRA’s requests for information, and falsely stated that he didn't maintain trading authority over the 87 outside trading accounts.

In settling this matter, Mr. Egan agreed to a bar from the industry without admitting or denying the charges. According to FINRA, the 87 outside trading accounts belonged to him, his family and customers of his accounting and tax preparation practice.

Mr. Egan was registered with Independent Financial Group from 2010 to 2015. He was discharged from the Firm in 2015 because he made misrepresentations in compliance forms he submitted.

The FINRA case number for this matter is #2015046381101 and this decision is posted on http://disciplinaryactions.finra.org/ for public reference.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. 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

Return to Archive

TESTIMONIALS

Previous
Next

Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

August 8, 2022
SEC Files Suit Against Georgia Advisor Over Misappropriation of Client Funds

The Securities and Exchange Commission (SEC) is filing suit against a Georgia-based advisor, Christopher Burns, who allegedly misappropriated client funds.

August 5, 2022
SEC Fines RIA $5.8 Million Over 12b-1 Fee Infractions Tied to Wrap Accounts

The Securities and Exchange Commission (SEC) has imposed a $5.8 million fine against Private Advisor Group over 12b-1 fee violations tied to its wrap fee program. 

August 4, 2022
North Dakota Regulators Seek to Close Down Advisory Firm Selling Crypto and Weed Products

The North Dakota Securities Commissioner’s office is seeking to shut down a small West Fargo-based registered investment adviser (RIA) after its owner allegedly violated state securities laws and improperly took custody of $17.8 million in client funds beginning in 2017.