Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Wesley Gilbreath (Gilbreath), currently associated with Integrity Capital, LLC, has at least one disclosable event. These events include one tax lien, alleging that Gilbreath recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on October 06, 2024.
Approximately 18 years ago, after finishing law school, I took (and passed) the NY Bar. I kept up with my continuing education for maybe a year or two, but then discontinued. I assumed I would be marked ‘inactive’ in the database, which was okay with me as I did not have any intention of practicing law. About 20 days ago, I received an email with an attached ruling, that indicated I was suspended for not continuing to update my registration and contact information on the NY website and pay a registration fee. I contacted the registration division in NY and they have indicated I simply need to sign an attestation that I am retired and they will lift the suspension. I have not submitted the attestation yet but intend to do so in the next week. \, \, To be clear, I have never practiced law and as I will indicate in my attestation, I have no intention of practicing law at any point in the future. This suspension was triggered by a recent amendment to NY law, highlighted in the excerpt below. \, \, ‘We note that, effective December 1, 2023, the Rules of the Chief Administrator of the Courts were amended to require every attorney admitted to practice in New York, whether a resident or nonresident, active or retired, or actively practicing law in New York or anywhere to file their biennial registration electronically through an online program implemented by the Chief Administrator (see Rules of Chief Admr of Cts \\u00a7 118.1 [c], [d]). As a consequence of this rule amendment, all attorneys are required to establish an Online Services account in order to access the electronic registration system. ‘\, \, My point here, is that the ongoing registration for non-practicing lawyers who had not been formally ‘retired’ was a relatively recent development. I have not resided in NY since sometime prior to 2018, and to be candid, was not paying close attention to any emails I’ve received on the matter from NY’s judicial licensing authorities, since it had not bearing on my professional function as a financial professional.\, \, I plan to resolve the matter further and have my suspension lifted by making an attestation.
