Eccleston Law Blog

Former LPL Advisor Charged With Fraud Faces 37-Year Prison Sentence

February 11th, 2022 at 1:24 PM
An ex-LPL Financial advisor has been indicted for allegedly defrauding at least 15 former clients after the Financial Industry Regulatory Authority (FINRA) barred him from the industry.       
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J.P. Morgan Settles With Cresset Over ‘Raid’ Of Private Bankers

February 10th, 2022 at 2:20 PM
J.P. Morgan settled a lawsuit with Chicago-based advisory firm Cresset Asset Management pertaining to its alleged raid of at least 10 J.P. Morgan private bankers.
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SEC to Advocate For More Transparent Fee Disclosures from Private Equity Firms

February 9th, 2022 at 1:09 PM
  The Securities and Exchange Commission (SEC) plans to consider and potentially implement rules requiring more expansive disclosures surrounding fees imposed by private equity firms.      
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Judge Vacates Arbitration Award, Condemning Wells Fargo, Attorney and FINRA

February 8th, 2022 at 2:42 PM
A Georgia Superior Court judge has vacated an arbitration award that Wells Fargo had obtained nearly 3 years ago involving a client who sued the firm for mismanaging his account and, in doing so, has rocked the industry with sweeping, serious allegations of misconduct and conspiracy.
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Former Morgan Stanley Advisor Settles FINRA Charge Over Inherited Account Coding

February 7th, 2022 at 11:22 AM
The Financial Industry Regulatory Authority (FINRA) has issued a 10-day suspension and a $2,500 fine against another former Morgan Stanley advisor over an alleged miscoding of trades on inherited accounts.
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Stephens Wins $18.2 Million In Raiding Claim Against Ben Edwards

February 4th, 2022 at 12:48 PM
Stephens, Inc. has won nearly $18.2 million in an arbitration claim against Benjamin Edwards & Company over the raiding of an Arkansas branch.
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FINRA Bars Former Bank of America Advisor For Allegedly Misappropriating Client Funds

February 3rd, 2022 at 11:44 AM
The Financial Industry Regulatory Authority (FINRA) has barred a former Bank of America advisor after he allegedly forged a client’s signature and misappropriated $58,000 of client funds.
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Advisors Face Scrutiny After Selling $2 Billion In GWG Junk Bonds

February 2nd, 2022 at 3:15 PM
An alternative asset manager that had issued a collection of high-yield bonds known as L Bonds, GWG Holdings Inc., has struggled to cover its interest payments.
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Supreme Court Rules On Landmark 401(K) Fee Suit

February 1st, 2022 at 1:01 PM
The U.S. Supreme Court has reversed an appellate court’s decision involving Northwestern University, which may impact numerous other pending lawsuits that target retirement plans with underperforming investments and excessive fees.
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Former Edward Jones Advisor Suspended For Illegally Borrowing $150K From Client

January 31st, 2022 at 12:20 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Edward Jones advisor who allegedly borrowed $150,000 from a client to cover debts incurred by an unprofitable golf-cart business operated by he and his wife.
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LATEST NEWS AND ARTICLES

March 11, 2026
SEC and Commonwealth Financial Network Move Toward Settlement in Revenue Sharing Disclosure Case

The Securities and Exchange Commission (SEC) and Commonwealth Financial Network notified a federal court that they are attempting to resolve a long running enforcement dispute involving alleged disclosure failures tied to revenue sharing payments, according to ThinkAdvisor.

March 10, 2026
Northern Trust Faces $35 Million Elder Abuse Lawsuit Over Alleged Trust Theft

Northern Trust faces a lawsuit seeking at least $35 million in damages over allegations that its former vice president stole millions from a $20 million legacy trust belonging to an elderly beneficiary, according to ThinkAdvisor.

March 9, 2026
SEC Alerts Investors as to the Relationship Investment Scam

The Securities and Exchange Commission (SEC) has alerted investors that fraudsters increasingly rely on relationship-based investment schemes to steal money.