Eccleston Law Blog

FINRA Seeks Public Input on Rule Modernization

April 3rd, 2025 at 2:26 PM
The Financial Industry Regulatory Authority (FINRA) is conducting a comprehensive review of its rules and is soliciting feedback from industry participants. According to ThinkAdvisor, the review aims to modernize regulations, particularly concerning remote work and branch office requirements.
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Bybit Suffers Massive $1.5 Billion Crypto Hack Amid Security Concerns

April 2nd, 2025 at 3:04 PM
Bybit, a major cryptocurrency exchange, has fallen victim to a devastating security breach, resulting in the theft of approximately $1.5 billion in Ethereum.
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CFP Board Releases AI Ethics Guide for Its Certificants

April 1st, 2025 at 3:43 PM
The CFP Board has released a "Generative AI Ethics Guide" to address the growing use of artificial intelligence in financial advising.
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Margin Debt Hits Record Highs

March 31st, 2025 at 12:24 PM
Investors' use of margin trading has surged to unprecedented levels, with debit balances in margin accounts reaching a record $937 billion as of January 2025, according to FINRA.
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FINRA Arbitration Orders Stifel to Pay $133 Million Over Broker's Structured Note Strategy

March 28th, 2025 at 12:11 PM
A FINRA arbitration panel has ordered Stifel Financial’s retail broker-dealer to pay nearly $133 million in damages related to a structured note investment strategy promoted by Miami-based broker Chuck A. Roberts.
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FINRA Fines Robinhood $26 Million for Compliance Failures

March 27th, 2025 at 11:21 AM
According to Barron’s, FINRA has fined Robinhood Financial and Robinhood Securities $26 million for multiple rule violations, including failures in anti-money laundering compliance, inadequate supervision of trading technology, and misleading customer communications.
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Former Edward Jones Advisor Barred After Refusing to Cooperate with FINRA Investigation

March 26th, 2025 at 2:11 PM
A former Edward Jones advisor, James A. Bowman, has accepted an industry bar rather than cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into allegations that he reimbursed clients for losses in their accounts.
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Pennsylvania Investor Sues Captrust Over $360,000 Phishing Scam Loss

March 25th, 2025 at 1:00 PM
A Pennsylvania investor has filed suit against Captrust Financial Advisors, alleging the firm failed to act swiftly in stopping a scam that drained her retirement savings.
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Merrill Lynch Advisor Sanctioned for Unauthorized Trading

March 24th, 2025 at 2:58 PM
FINRA has fined a former Merrill Lynch advisor $5,000 and suspended the advisor for 30 days for executing unauthorized trades in client accounts.
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SEC Updates Marketing Rule Guidance to Clarify Extracted Performance and Portfolio Metrics

March 21st, 2025 at 2:20 PM
The Securities and Exchange Commission (SEC) has issued updated guidance on its marketing rule, addressing industry concerns regarding net performance requirements, extracted performance, and portfolio characteristics.
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LATEST NEWS AND ARTICLES

August 14, 2025
Florida Investment Advisor Accused of Orchestrating $94 Million Fraud Targeting International Clients

Federal prosecutors have charged Andrew Hamilton Jacobus, a former investment adviser based in Fort Lauderdale, Florida, with defrauding international investors of over $94 million over 20 years.

August 13, 2025
FINRA Suspends Financial Advisor for Outsourcing Continuing Education Requirements

The Financial Industry Regulatory Authority (FINRA) has suspended advisor Francis G. Smith for one month and fined him $5,000 after finding he had someone else complete required continuing education (CE) coursework on his behalf.

August 12, 2025
Margin Debt Hits $1 Trillion as Investor Risk Appetite Surges

According to Barron’s, investors are borrowing against their portfolios at record levels.