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O.N. Equity Sales Co. Financial Advisor Brian Eyster Sanctioned By The Securities Exchange Commission For Violation Of The Investment Advisers Act

The Wolper Law Firm is currently investigating claims against Brian Eyster, a Financial Advisor at O.N. Equity Sales Company in Farmington Hill, Michigan.  Brian Eyster has been in the financial services industry since 1999 and previously worked for Park Avenue Securities.

According to publicly available records released by the Securities Exchange Commission (SEC), on July 10, 2018, the SEC instituted proceedings against Brian Eyster, ordering him to cease and desist activities that constituted alleged violations of the Investment Advisers Act of 1940.  Specifically, it was alleged that Brian Eyster committed:

“…violations of the testimonial rule under the Advisers Act, which states that it shall constitute a fraudulent, deceptive, or manipulative act, practice, or course of business for any investment adviser registered with the Commission to publish, circulate or distribute any advertisement which refers to, among other things, any testimonial of any kind concerning the investment adviser. Eyster caused ON Investment Management Co. (“ONIMCO”) to violate the testimonial rule under the Advisers Act by publishing on the internet advertisements containing testimonials concerning Eyster and the investment advice and services he renders as an investment adviser representative of ONIMCO. The testimonials were available to the public on, among other places, YouTube.com and a website Eyster maintained for his business. By publishing statements containing client testimonials, Eyster caused ONIMCO’s violations of Section 206(4) of the Advisers Act and Rule 206(4)-1(a)(1) thereunder.”

Contemporaneous with the filing of the aforementioned cease and desist proceeding, Brian Eyster agreed to resolve the claims brought by the SEC through the payment of a fine.

https://www.sec.gov/litigation/admin/2018/ia-4962.pdf

If you or someone you know was a customer of Brian Eyster, and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  His industry insight, experience and knowledge gives his clients a competitive advantage.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]