Our securities attorneys at Eccleston Law can guide you through the process, assist you in preparing responses and defenses and ensure the process proceeds as smoothly and quickly as possible. By engaging Eccleston Law, we may be able to help prevent
The securities attorneys at Eccleston Law have significant experience in helping brokers and financial advisors navigate the FINRA Rule 8210 Enforcement process. If you have received a letter from
These “inquiry” letters are made under FINRA Rule 8210, which requires the member, a person associated with the member, or any other person subject to FINRA's jurisdiction to provide information orally, in writing, or electronically. FINRA Rule 8210 also authorizes FINRA to take the person’s testimony, if requested, which is commonly known as an “On The Record” Interview or “OTR”. Failing to comply with the information and document requests by FINRA under Rule 8210 can lead to sanctions, including hefty fines, suspensions, or even a bar from the industry.
If the inquiry was the result of a recent termination, this unwelcomed surprise can cause a significant burden and interference with any pending or new transition to a new firm. Separations of employment are serious, life-altering matters. Oftentimes, state regulators and other self-regulatory agencies and professional organizations such as the CFP Board, will also send inquiries into the same or similar triggering circumstances, each of which are on a separate track and timeline that can be difficult to navigate and defend as you are scrambling to secure new employment or transition your book of business.
As the securities attorneys of Eccleston Law have an acute understanding of regulatory and employment matters unique to the financial industry, our experience can help you manage this overwhelming process and reduce your stress so you can get back to business as a broker.
In addition to terminations and separations of employment, financial advisors may receive inquiry letters due to a variety of other circumstances. Some of the most common events include:
Form U4 and U5 disclosures may include criminal charges and convictions; liens, bankruptcies, and compromises with creditors; outside business activities; and regulatory actions.
The work that you and your team have performed on my behalf is exemplary.
The Securities and Exchange Commission (SEC) plans to scrutinize how investment advisers and other regulated firms use artificial intelligence, manage technology-related risks, and protect client information.
Federal regulators have imposed more than $1.21 billion in penalties against Bank of America for anti-money laundering and compliance failures.
Wells Fargo and Merrill Lynch will pay a combined $4.4 million to resolve allegations that they overcharged customers on small-dollar securities transactions.
We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.
The Securities and Exchange Commission (SEC) plans to scrutinize how investment advisers and other regulated firms use artificial intelligence, manage technology-related risks, and protect client information.
Federal regulators have imposed more than $1.21 billion in penalties against Bank of America for anti-money laundering and compliance failures.
Wells Fargo and Merrill Lynch will pay a combined $4.4 million to resolve allegations that they overcharged customers on small-dollar securities transactions.
