Eric Shea Hollifield, Formerly of LPL Financial, Barred by FINRA Following Refusal to Appear for Testimony

INVESTORS: Former LPL Financial broker Eric Shea Hollifield was barred by FINRA after he 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.

Eric Shea Hollifield (CRD: 3091319) was registered as a broker with LPL Financial, Inc. from 2016 until 2021. Previously, Hollifield was registered as a broker with Sterne Agee Financial Services from 2008 until 2016.

Hollifield has six disclosures on his BrokerCheck report. One disclosure relates to the personal financial matters of Mr. Hollifield.

October 2021 Regulatory Judgment

Status: Final

Initiated By: FINRA

Allegations: Without admitting or denying the findings, Hollifield consented to the sanction and to the entry of findings that he 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.

Resolutation: Acceptance, Waiver & Consent (AWC)

Sanctions: Bar (Permanent)

Registration Capacities Affected: All Capacities

Duration: Indefinite

Start Date: 10/7/2021

September 2021 Regulatory Judgment

Status: Final

Initiated By: Georgia

Allegations: Without client knowledge, requested and authorized a transfer of $1,240,000.00 of client’s funds from client’s brokerage account.

Resolutation: Order

Sanctions: Bar (Permanent)

Registration Capacities Affected: Registration as an investment adviser representative and broker dealer agent.

Start Date: 1/5/2022

Sanctions: Cease and Desist

Sanctions: Civil and Administrative Penalty(ies)/Fine(s)

Amount: $500,000.00

Sanctions: Monetary Penalty other than Fines

September 2021 Employment Separation After Allegations

Firm Name: Hamilton Investment Counsel, LLC

Termination Type: Discharged

Allegations: Failed to disclose outside business activity to firm.

August 2021 Customer Dispute

Status: Pending

Allegations: The customer alleges that registered representative misappropriated funds from her account. Activity period: August 2020 to present.

Damage Amount Requested: $1,240,000.00

August 2021 Employment Separation After Allegations

Firm Name: LPL Financial LLC

Termination Type: Discharged

Allegations: Failed to disclose outside business activity to Firm.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Eric Shea Hollifield. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.