Responding to FINRA Enforcement 8210 Inquiries – Part 2

Posted on February 25th, 2020 at 3:31 PM
Responding to FINRA Enforcement 8210 Inquiries – Part 2

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the second part of a three-part series.

As discussed in part one of this three-part series, written inquiries made pursuant to FINRA Rule 8210 are a tool used by FINRA Enforcement when investigating registered representatives for potential violations.  Rule 8210 requires registered representatives to comply with FINRA’s requests for information and documents.

A mistake some financial advisors make when responding to a FINRA 8210 inquiry is not hiring legal counsel. Many advisors are not aware of the multitude of securities rules and regulations that FINRA may be considering, both at the inception of any inquiry and – importantly – later as the investigation unfolds. 

Likewise, a financial advisor may inadvertently admit to wrongdoing if she/he responds to an 8210 inquiry on their own. A financial advisor may say too much, say too little, or produce documents which could implicate the financial advisor in violations of securities rules or regulations. Hiring legal counsel with experience responding to FINRA 8210 inquiries can help advisors craft a response that avoids the mistakes often made by advisors who respond on their own.

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, finra, rule 8210, 8210 inquiry

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