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.
As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.
Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.
An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommending unsuitable investments to an elderly customer.
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Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.
An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommending unsuitable investments to an elderly customer.
