Eccleston Law Blog

FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

May 9th, 2025 at 1:36 PM
FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.
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All 50 States Now Aligned on Annuity Sales Standards

May 8th, 2025 at 1:57 PM
The annuity industry officially has secured uniformity in sales regulations across all 50 states.
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Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

May 7th, 2025 at 3:31 PM
A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.
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SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

May 6th, 2025 at 11:42 AM
The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.
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FINRA Suspends Former TD Securities Representative for Improper Expense Charges

May 5th, 2025 at 12:12 PM
FINRA has suspended former TD Securities representative Kate Yumi Lam for 12 months and fined her $10,000 for improperly charging personal commuting and meal expenses to the firm's account.
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Former Edward Jones Broker Indicted for Defrauding Elderly Widow

May 2nd, 2025 at 3:00 PM
Federal prosecutors have indicted a former Edward Jones financial advisor on charges of wire fraud, mail fraud, money laundering, and tax violations after he allegedly stole more than $920,000 from a 77-year-old widowed client.
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FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

May 1st, 2025 at 12:49 PM
FINRA has fined and censured independent broker-dealer Sanctuary Wealth Management $150,000 for failing to establish an adequate anti-money laundering (AML) program to detect and report suspicious transactions.
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Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

April 30th, 2025 at 11:37 AM
Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.
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Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

April 29th, 2025 at 11:36 AM
Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructed by management, according to his Central Registration Depository (CRD) record.
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Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

April 28th, 2025 at 4:00 PM
Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, and Consent letter (“AWC”).
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LATEST NEWS AND ARTICLES

May 9, 2025
FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.

May 8, 2025
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

May 7, 2025
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.