Eccleston Law Blog

New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

September 11th, 2024 at 10:58 AM
The U.S. Treasury Department has finalized anti-money-laundering (AML) regulations targeting investment advisers registered with the U.S. Securities and Exchange Commission (SEC).
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FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest

September 10th, 2024 at 11:24 AM
The Financial Industry Regulatory Authority (FINRA) has barred Christopher Reynolds for forging customer signatures on annuity documents and violating Regulation Best Interest (Reg BI). 
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TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations

September 9th, 2024 at 3:57 PM
Toronto-Dominion Bank (TD Bank) has allocated $2.6 billion to cover anticipated fines related to failures in its anti-money laundering (AML) controls.
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Veteran Advisor Exits Industry Amid FINRA Probe into UIT Trading Practices

September 6th, 2024 at 10:00 AM
Gregory Alan Corrie, a 30-year industry veteran based in Boise, Idaho, has opted to leave the securities industry rather than cooperate with a FINRA investigation into allegations of improper trading of Unit Investment Trusts (UITs).
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SEC Freezes Assets of Wells Real Estate Investment and Leaders Amid $56 Million Fraud Allegations

September 5th, 2024 at 1:47 PM
The Securities and Exchange Commission (SEC) has taken emergency action against Wells Real Estate Investment, LLC, its CEO Janalie C. Bingham, and Jean Joseph, a previously convicted felon, for allegedly defrauding investors out of $56 million.
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UBS Fined $850,000 for Supervisory Failures Leading to Investor Losses

September 4th, 2024 at 11:29 AM
FINRA has fined UBS Wealth Management USA $850,000 for failing to supervise an advisor who recommended unauthorized outside investments for over a decade.
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Wisconsin Financial Advisor Suspended and Fined for Unauthorized Transactions

September 3rd, 2024 at 10:18 AM
FINRA has suspended and fined Wisconsin financial advisor John E. Pelletier after he executed 16 unauthorized transactions, allowing a client's ex-wife to nearly deplete his individual retirement account (IRA).
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Advisor Sues Hightower, Alleging Age Discrimination and Unfair Treatment

August 30th, 2024 at 9:01 AM
Glenn Frank, a Massachusetts-based financial advisor, has filed a lawsuit against Hightower Holdings and Lexington Wealth Management, alleging age discrimination and unfair treatment.
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Supreme Court Limits SEC's Use of In-House Tribunals in Securities Fraud Cases

August 29th, 2024 at 2:01 PM
As reported by InvestmentNews, the Supreme Court ruled in SEC v. Jarkesy that the SEC must bring actions seeking civil penalties for securities fraud in a court of law, where defendants are entitled to a trial by jury.
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FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account

August 28th, 2024 at 10:25 AM
As reported by AdvisorHub, the Financial Industry Regulatory Authority (FINRA) has fined a former UBS advisor Luis E. Nin $5,000 and suspended him for one month after he placed unauthorized trades in a deceased client’s account.
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TESTIMONIALS

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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

May 7, 2025
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.

May 6, 2025
SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.

May 5, 2025
FINRA Suspends Former TD Securities Representative for Improper Expense Charges

FINRA has suspended former TD Securities representative Kate Yumi Lam for 12 months and fined her $10,000 for improperly charging personal commuting and meal expenses to the firm's account.