FINRA Bars Broker Eric Hollifield after Allegations of Conversion of Funds
According to the Financial Industry Regulatory Authority (FINRA) on October 7, 2021, the regulator has barred financial advisor Eric Hollifield (CRD#: 3091319) from associating with any FINRA member at any time.
FINRA’s findings allege that Hollifield refused to appear for on-the-record testimony or to produce the documents and information requested by FINRA in connection with its investigation into “Hollifield’s potential conversion of funds from an elderly customer.”
According to his FINRA Broker Report, Hollifield was affiliated with the following firms, among others:
10/14/2016 – 09/10/2021, LPL FINANCIAL LLC (CRD#:6413), DACULA, GA
09/19/2008 – 11/11/2016, STERNE AGEE FINANCIAL SERVICES, INC. (CRD#:18456), DACULA, GA
10/10/2003 – 09/23/2008, H&R BLOCK FINANCIAL ADVISORS, INC. (CRD#:5979), DULUTH, GA
Hollifield’s broker report further indicates that his former member firm, LPL financial reportedly discharged him after he “failed to disclose outside business activity to firm.” Hollifield has one customer complaint filed against him in August 2021 alleging that he “misappropriated funds from her account.”
The White Law Group is investigating potential securities fraud claims regarding the liability that Eric Hollifield’s employers may have for failure to properly supervise him.
When brokers violate securities laws, such as making unauthorized transactions or unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
We represent investors in FINRA arbitration claims in all 50 states including Georgia. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Eric Hollifield, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on the firm’s investigation, see:
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.
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