Eccleston Law Blog

FINRA Orders Osaic Unit to Pay Over $5 Million for Misleading Bank Deposit Program Disclosures

February 9th, 2026 at 3:07 PM
The Financial Regulatory Authority (FINRA) ordered independent broker-dealer Osaic and its acquired firm, American Portfolios Financial Services, to pay more than $5 million after finding that American Portfolios misled customers about how it calculated fees in its bank deposit program.
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Delaware Regulators Fine Kovack Advisors $985,000

February 6th, 2026 at 11:57 AM
Kovack Advisors Inc., the registered investment adviser affiliate of independent broker-dealer Kovack Securities Inc., agreed to pay a $985,000 fine to Delaware securities regulators.
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FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

February 5th, 2026 at 4:16 PM
The Financial Industry Regulatory Authority (FINRA) fined VSI Securities Inc., formerly known as Venecredit Securities Inc., $20,000 for failing to accurately disclose the firm’s disciplinary history in its customer relationship summary, known as Form CRS.
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Investor Redemptions Rise in Nontraded BDCs Amid Credit Concerns

February 4th, 2026 at 2:51 PM
Financial advisors and their clients have increased redemptions from nontraded business development companies (BDCs) following a series of high-profile corporate bankruptcies, according to InvestmentNews. The surge highlights growing investor concern about liquidity and credit exposure within these high-yield but often risky investment vehicles.
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FINRA Accuses Spartan Capital of Widespread Churning That Allegedly Harmed Customers

February 3rd, 2026 at 1:42 PM
The Financial Industry Regulatory Authority (FINRA) has brought a disciplinary complaint against Spartan Capital Securities and several senior leaders of the New York City–based broker-dealer, alleging that the firm facilitated excessive trading that generated millions of dollars in revenue while causing substantial losses to customers.
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California Investors Allege Unsuitable DST Recommendations in FINRA Arbitration

February 2nd, 2026 at 10:59 AM
Two investors from the San Francisco Bay Area have filed a FINRA arbitration claim against brokerage firm Realized Financial and its financial advisors.
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FINRA Arbitration Panel Orders J.P. Morgan to Amend Form U-5, Flags Potential Pattern of Conduct

January 30th, 2026 at 1:26 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel recently issued an unusually detailed decision in a dispute between J.P. Morgan Securities and former advisor Joshua David Sappi Biering, shedding rare light on how a firm may deploy - and sometimes abuse - the Form U-5 during advisor departures.
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OFAC Targets Individual Trustee, Sending a Clear Warning to Fiduciaries and Family Offices

January 29th, 2026 at 1:09 PM
In a rare move, the Office of Foreign Assets Control (OFAC) penalized a former U.S. government official, underscoring that professional gatekeepers can face personal liability for sanctions violations tied to trust administration.
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FINRA Advances Overhaul of Outside Business Activity Rules to the SEC

January 28th, 2026 at 2:22 PM
FINRA formally has advanced its proposed overhaul of outside business activity (OBA) regulations to the Securities and Exchange Commission.
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FINRA Sanctions, Criminal Cases, and Industry Bars in 2025

January 27th, 2026 at 3:31 PM
AdvisorHub has compiled a year-end review of enforcement actions and criminal proceedings.
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TESTIMONIALS

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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

February 9, 2026
FINRA Orders Osaic Unit to Pay Over $5 Million for Misleading Bank Deposit Program Disclosures

The Financial Regulatory Authority (FINRA) ordered independent broker-dealer Osaic and its acquired firm, American Portfolios Financial Services, to pay more than $5 million after finding that American Portfolios misled customers about how it calculated fees in its bank deposit program.

February 6, 2026
Delaware Regulators Fine Kovack Advisors $985,000

Kovack Advisors Inc., the registered investment adviser affiliate of independent broker-dealer Kovack Securities Inc., agreed to pay a $985,000 fine to Delaware securities regulators.

February 5, 2026
FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

The Financial Industry Regulatory Authority (FINRA) fined VSI Securities Inc., formerly known as Venecredit Securities Inc., $20,000 for failing to accurately disclose the firm’s disciplinary history in its customer relationship summary, known as Form CRS.