Eccleston Law Blog

SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

August 12th, 2022 at 1:28 PM
The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.
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FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

August 11th, 2022 at 2:13 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.
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UBS Wealth Group’s Legal Costs Skyrocket in Q2

August 10th, 2022 at 5:48 PM
UBS Wealth’s litigation expenses have substantially spiked in the second quarter as the firm has faced a host of investor complaints and regulatory probes into UBS’ volatile Yield Enhancement Strategy (YES).
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UBS Wealth Relying on Lending as Client Assets Dip

August 9th, 2022 at 3:24 PM
UBS Wealth Management is relying on loan growth and increasing interest rates amidst a quarter that the company has categorized as “one of the most challenging periods for investors in the last 10 years”, according to UBS CEO Ralph Hamers.
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SEC Files Suit Against Georgia Advisor Over Misappropriation of Client Funds

August 8th, 2022 at 2:25 PM
The Securities and Exchange Commission (SEC) is filing suit against a Georgia-based advisor, Christopher Burns, who allegedly misappropriated client funds.
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SEC Fines RIA $5.8 Million Over 12b-1 Fee Infractions Tied to Wrap Accounts

August 5th, 2022 at 1:24 PM
The Securities and Exchange Commission (SEC) has imposed a $5.8 million fine against Private Advisor Group over 12b-1 fee violations tied to its wrap fee program. 
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North Dakota Regulators Seek to Close Down Advisory Firm Selling Crypto and Weed Products

August 4th, 2022 at 2:33 PM
The North Dakota Securities Commissioner’s office is seeking to shut down a small West Fargo-based registered investment adviser (RIA) after its owner allegedly violated state securities laws and improperly took custody of $17.8 million in client funds beginning in 2017.
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J.P. Morgan Files Suit Against Former Advisor Over Alleged Client-Poaching

August 3rd, 2022 at 1:40 PM
J.P. Morgan has filed suit against a former advisory who allegedly poached clients after departing the firm to join Stifel, Nicolaus & Co.
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Equitable to Pay $50 Million Over Misleading Statements on Annuity Fees

August 2nd, 2022 at 2:15 PM
The Securities and Exchange Commission (SEC) has filed fraud charges against Equitable Financial Life Insurance Co. for furnishing account statements to nearly 1.4 million variable annuity investors containing materially misleading statements as well as omissions regarding investor fees.
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SEC Charges Four Unregistered Advisors For Selling Sky Group Securities

August 1st, 2022 at 2:22 PM
The Securities and Exchange Commission (SEC) has charged four individuals for improperly selling securities of Sky Group, a Miami-based payday loan company.
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LATEST NEWS AND ARTICLES

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.

August 11, 2022
FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.

August 10, 2022
UBS Wealth Group’s Legal Costs Skyrocket in Q2

UBS Wealth’s litigation expenses have substantially spiked in the second quarter as the firm has faced a host of investor complaints and regulatory probes into UBS’ volatile Yield Enhancement Strategy (YES).