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Eccleston Law Blog

FINRA Bars Former Edward Jones Advisor Who Refused to Repay $893K

April 20th, 2022 at 2:58 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former Edward Jones advisor who failed to cooperate with a probe into allegations that he refused to return $893,289 to one of his clients.    
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FINRA Suspends Former Morgan Stanley Advisor Who Circumvented Sales Limits

April 19th, 2022 at 1:36 PM
The Financial Industry Regulatory Authority (FINRA) has imposed a $15,000 fine and 20-month suspension on a former Morgan Stanley advisor who allegedly falsified client information in order to circumvent sales restrictions on volatile fixed income investments.      
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GPB Capital Announces Sale of Land in New Jersey

April 19th, 2022 at 8:31 AM
GPB Capital Holdings announced that it has sold land in New Jersey that was previously owned by one of its private placement funds.    
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SEC Charges Four Individuals Involved In Fraudulent Scheme Targeting Retirees

April 15th, 2022 at 1:13 PM
The Securities and Exchange Commission (SEC) has charged Julie Minuskin, Dennis DiRicco, Tom Casey and Golden Genesis, Inc. with defrauding investors with their sales of high-yield promissory notes primarily to retirees.    
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FINRA Fines National Securities $663,000 Over Private Placement Offering

April 14th, 2022 at 1:15 PM
The Financial Industry Regulatory Authority (FINRA) has imposed a $663,000 fine on National Securities for allegedly deceiving investors about the price of shares included in a private placement offering.    
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FINRA Bars Former Cetera Advisor Who Converted Client Funds

April 13th, 2022 at 1:31 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former Cetera Financial advisor for allegedly converting $40,000 from her client accounts in order to purchase mutual fund shares for her son.    
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Wells Fargo Agrees To $32.5 Million Settlement In 401(k) Lawsuit

April 12th, 2022 at 12:20 PM
Wells Fargo has agreed to pay $32.5 million to settle a class-action lawsuit that alleged the firm violated provisions of the Employee Retirement Income Security Act (ERISA).      
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Three Morgan Stanley Advisors Clear Records of Back-Office Mistake

April 11th, 2022 at 1:08 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has expunged the records of three advisors who are part of a large Morgan Stanley team. The disclosure had related to their purported liability for a customer complaint pertaining to a back-office mistake over a misvalued stock certificate.    
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Supreme Court Rules in Favor of Former Ameriprise Advisor

April 8th, 2022 at 12:09 PM
The U.S. Supreme Court has ruled in favor of a former Ameriprise Financial advisor in a landmark decision that could provide advisors with more leeway when disputing arbitration awards.    
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FINRA Suspends Former Wells Fargo Advisor Over Dead-Man-Trading Violation

April 7th, 2022 at 2:16 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Wells Fargo advisor for allegedly completing several trades on behalf of a client without obtaining consent.    
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