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Financial Advisor Accepts Suspension and Fine for Misrepresenting Continuing Education Compliance

Posted on February 21st, 2025 at 1:28 PM
Financial Advisor Accepts Suspension and Fine for Misrepresenting Continuing Education Compliance

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

A financial advisor affiliated with Equity Services Inc. (ESI) has agreed to a one-month suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) found that someone else completed his required continuing education (CE) for a state insurance license renewal.

Rod Hurowitz, also a registered investment adviser with ESI Financial Advisors, accepted FINRA’s findings without admitting or denying them, according to a settlement agreement known as an “Acceptance, Waiver, and Consent”, as reported by ThinkAdvisor.

According to FINRA, Hurowitz falsely certified to New York state regulators in December 2022 that he personally had completed the necessary CE to renew his license, when in fact another individual had done so on his behalf.

According to ThinkAdvisor, FINRA recently has disciplined multiple advisors for similar misconduct. In 2023, the regulator sanctioned 62 advisors for falsely certifying completion of New York’s insurance CE requirements. Those advisors, without admitting or denying the allegations, likewise accepted disciplinary action after FINRA found that another unidentified individual had completed the training on their behalf.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

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