Eric Shea Hollifield of Dacula Georgia a stockbroker formerly registered with LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he did not cooperate with FINRA investigators during an investigation into his possible conversion of an elderly customer’s funds during the period that he was associated with LPL Financial. Letter of Acceptance Waiver and Consent No. 2021072558701 (October 7, 2021).
According to the AWC, on September 21, 2021, Hollifield was asked by FINRA to provide recorded testimony relating to the accusations of his possible misuse or theft of customer funds. Hollifield was supposed to make an appearance before FINRA investigators on September 30, 2021.
On September 21, 2021, the regulator also sought information and documents from Hollifield and asked that he comply by October 5, 2021. Hollifield contacted FINRA to confirm that he received its request for his testimony, documents, and information and that he would not cooperate in the investigation. Hollifield refused to talk or hand anything over. The regulator determined that Hollifield violated FINRA Rules 2010 and 8210 for obstructing the investigation.
FINRA Public Disclosure shows that on August 25, 2021, a customer filed an investment related complaint concerning Hollifield’s activities in which the customer sought $1,240,000.00 in damages supported by allegations that Hollifield misappropriated funds from the customer’s account between August of 2020 and August of 2021 when he was associated with LPL Financial.
Hollifield was registered with LPL Financial between October 14, 2016, and August 12, 2021. He was discharged based on accusations of his outside business activities. He was also an investment adviser representative with Hamilton Investment Counsel LLC, who discharged him for the same reason.
