Former Investment Adviser Firm and CIO Settle SEC Charges

Posted on November 2nd, 2016 at 9:02 AM
Former Investment Adviser Firm and CIO Settle SEC Charges

From the Desk of Jim Eccleston at Eccleston Law LLC

The Securities and Exchange Commission has settled charges against Moloney Securities Company, Inc. and its CIO Joseph Ronald Medley, Jr. because of several compliance and disclosure issues. According to the SEC, the firm failed to properly disclose and implement its compliance policies and procedures regarding principal transactions even after Moloney Securities received three deficiency letters in 2006, 2009 and 2012.

The SEC asserted that Moloney Securities, under the control of Medley, violated 206(2), 206(3), 206(4), and 207 of the Advisers Act. Without admitting or denying the findings, Moloney Securities and Medley agreed to a cease-and-desist order. In addition, Moloney Securities agreed to pay a civil penalty of $34,000, and Medley agreed to a pay a civil penalty of $7,500. 

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, Financial Counsel, SEC, Moloney Securities Company Inc., Investment Adviser Firm, CIO, Joseph Ronald Medley Jr., compliance policies, case-and-desist, civil penalty,

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