Eccleston Law Blog

FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

September 17th, 2025 at 2:02 PM
FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.
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Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

September 16th, 2025 at 11:35 AM
Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
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California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

September 15th, 2025 at 2:59 PM
Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.
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LPL Broker Fined and Suspended for Recommending Risky Investments to Elderly Client

September 12th, 2025 at 10:11 AM
An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommending unsuitable investments to an elderly customer.  
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Montana Federal Judge Allows Family's Premium Financing Claims to Proceed

September 11th, 2025 at 11:57 AM
A federal judge in Montana has allowed a family to move forward with negligence, fraud, and unjust enrichment claims tied to a premium-financed life insurance arrangement valued at $67.5 million.
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Arizona Man Sentenced to 30 Years for Multi-Million Dollar Ponzi-Style Fraud

September 10th, 2025 at 11:25 AM
An Arizona man has been sentenced to 30 years in prison for running a Ponzi-style investment scheme that defrauded more than 100 victims out of millions of dollars, according to the U.S. Attorney’s Office for the District of New Mexico.
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Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits

September 9th, 2025 at 11:54 AM
The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has suffered a dramatic collapse, losing nearly half its value in June and now trading at a net asset value (NAV) of $2.95 per share.
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SEC Fines New York RIA $50,000 for Custody Rule Violations

September 8th, 2025 at 1:32 PM
The Securities and Exchange Commission (SEC) has fined Munakata Associates, a New York-based registered investment adviser, $50,000 for failing to comply with the agency’s custody rule requirements.
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Merrill Lynch Advisor Faces FINRA Disciplinary Action for Refusing to Cooperate with Investigation

September 5th, 2025 at 2:07 PM
The Financial Industry Regulatory Authority (FINRA) has initiated disciplinary proceedings against former Merrill Lynch broker Ali F. Chehab of Portland, Oregon. According to ThinkAdvisor, FINRA alleges that he refused to cooperate in an investigation into potential misconduct, including unauthorized trading and material misrepresentations to clients.
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Wells Fargo Ties $2,000 Bonus to Non-Solicitation Clause, Raising Advisor Concerns

September 4th, 2025 at 11:45 AM
Wells Fargo & Co. recently issued a $2,000 bank-wide award to its 215,000 employees, following the Federal Reserve’s June decision to lift its asset growth restrictions.
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LATEST NEWS AND ARTICLES

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.

September 15, 2025
California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.