The State of California stripped Eric Grace of his ability to legally sell investments in California
On May 18, 2016 Eric Grace, a former registered representative and investment advisor with Grace Capital Management of Torrance, CA was barred from acting as an investment advisor or broker dealer by the California Department of Business Oversight
The State of California earlier in the year had filed an accusation against Eric Grace, after he refused to provide them information relating to his business with Grace Capital Management. The state had demanded access to Grace Capital Management’s offices for a routine examination in December, 2015 but found it closed. They then left voice messages with Grace Capital Management, and sent certified letters, but received no response.