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Eccleston Law Blog

SEC Obtains Final Judgement Against Indianapolis-Based Advisor Over Allegations Of Fraud

February 16th, 2022 at 12:04 PM
The U.S. District Court for the Southern District of Indiana has entered a final consent judgment against an Indianapolis-based advisor, George Blankenbaker, and three of his entities who previously were charged with defrauding at least 100 investors out of at least $8 million.        
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Smoothie-Throwing Advisor Suspended By CFP Board

February 15th, 2022 at 1:21 PM
A former Merrill Lynch advisor has been suspended by the CFP Board after he was arrested for threatening employees and using racial slurs at a smoothie shop in Connecticut.        
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FINRA Bars Former Morgan Stanley Advisor Facing Millions in Claims from Pro Athletes

February 14th, 2022 at 12:00 PM
A former Morgan Stanley advisor has been barred by the Financial Industry Regulatory Authority (FINRA) after receiving numerous complaints from his former professional athlete clients, including former basketball star Chandler Parsons.
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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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