The skilled securities attorneys at Eccleston Law can provide valuable advice and assistance in responding to FINRA Enforcement inquiries and actions and are here to help you with all aspects of the Enforcement process, including, but not limited to:
Evaluating and developing your factual defenses;
Helping you prepare the required written statement in response to the inquiry and allegations;
Analyzing the FINRA Sanction Guidelines and published FINRA and SEC decisions to develop legal defenses;
Preparing you for a FINRA On The Record (OTR) Interview and appearing as your counsel;
Answering and defending against any disciplinary complaint, “Wells Call” or “Wells Notice”;
Negotiating a settlement through a Letter of Acceptance, Waiver and Consent; and
Litigating a FINRA disciplinary hearing.
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 a FINRA inquiry from evolving into a formal investigation or disciplinary action. Contact Eccleston Law to set up a free consultation about your FINRA matter today.
FINRA Rule 8210
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 a FINRA investigator, who is "conducting an inquiry" into some matter or allegation, this is not to be taken lightly.
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.
Why Did I Receive a FINRA Inquiry?
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:
Customer Complaints
Arbitrations and Regulatory Actions
Form U4 and U5 disclosures, such as:
Criminal Charges and Convictions;
Liens, Bankruptcies, and Compromises with Creditors;
