Eccleston Law Blog

Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

November 8th, 2024 at 11:50 AM
Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed indexed universal life (IUL) insurance program. 
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Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

November 7th, 2024 at 3:26 PM
According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal data such as Social Security numbers and driver’s license information.
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SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

November 6th, 2024 at 1:33 PM
The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.
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LPL Financial Prepares for AML-Related SEC Settlement

November 5th, 2024 at 11:57 AM
LPL Financial has set aside $18 million in anticipation of settling an ongoing Securities and Exchange Commission (SEC) investigation into its anti-money laundering (AML) compliance program.
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Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

November 4th, 2024 at 11:57 AM
Pershing has been fined $1.4 million by FINRA for disseminating account documents with inaccurate interest rate information.
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Former Advisor Barred by FINRA for Failing to Respond to Investigation

November 1st, 2024 at 8:51 AM
FINRA has permanently barred financial advisor Michael Charles Grande from working with any registered investment or advisory firms after he failed to cooperate with an investigation into his mutual fund recommendations. 
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FINRA Fines Osaic Wealth and Securities America for Cybersecurity Failures

October 30th, 2024 at 11:01 AM
The Financial Industry Regulatory Authority (FINRA) has fined and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity lapses that exposed the private information of over 32,000 customers.
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Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

October 29th, 2024 at 10:42 AM
A Massachusetts court has granted Glenn Frank, a 69-year-old advisor suing Hightower for age discrimination, a preliminary victory by temporarily blocking Hightower from enforcing its non-solicitation covenants against him.
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Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

October 28th, 2024 at 2:26 PM
A FINRA arbitration panel has ordered Wells Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida.
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SEC Fines Thrivent Investment Management for Red BI Violations

October 25th, 2024 at 1:27 PM
The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) in its investment recommendations to retail brokerage clients.
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LATEST NEWS AND ARTICLES

November 8, 2024
Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed indexed universal life (IUL) insurance program. 

November 7, 2024
Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal data such as Social Security numbers and driver’s license information.

November 6, 2024
SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.