Eccleston Law Blog

Federal Judge Restrains Former UBS Advisors Amid Solicitation Dispute with Elevation Point

November 12th, 2025 at 9:28 AM
A federal judge in Florida has approved a stipulated order restricting a $1.4 billion advisory team that left UBS Wealth Management USA for RIA Elevation Point from contacting certain clients.
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FINRA Bars Advisor Over Misuse of Client Funds and Not Cooperating

November 11th, 2025 at 9:35 AM
The Financial Industry Regulatory Authority (FINRA) has barred former Raymond James financial advisor Jose A. Gamez after he failed to appear for testimony in connection with allegations that he used client funds for personal purposes.
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FINRA Suspends Former Wells Fargo Broker Over Unapproved Real Estate Venture

November 7th, 2025 at 1:49 PM
The Financial Industry Regulatory Authority (FINRA) suspended former Wells Fargo broker George J. Cairnes for four months and fined him $25,000 for engaging in unapproved real estate outside business activity, according to a settlement letter issued.
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Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

November 6th, 2025 at 3:23 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Eric A. Dupre to pay nearly $2.2 million in damages to his former firm and two customers following allegations of theft and elder exploitation.
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Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

November 5th, 2025 at 3:20 PM
The Financial Industry Regulatory Authority (FINRA) has suspended former Wells Fargo representative Eyan M. Townsend for one year and fined him $10,000 for using personal text messages to conduct business and attempting to obstruct an internal investigation by deleting those communications.
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FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

November 4th, 2025 at 9:23 AM
The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.
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Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

November 3rd, 2025 at 9:53 AM
Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam and a separate scheme involving over $4.75 million in fraudulent Paycheck Protection Program (PPP) loans, according to U.S. Attorney Gregory W. Kehoe for the Middle District of Florida.
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Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

October 31st, 2025 at 10:13 AM
Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was unduly influenced when it issued an advisory opinion that sought to undermine their deferred compensation claims.
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SEC Sues Former Franchise Group CEO Over $350 Million Hedge Fund Fraud

October 30th, 2025 at 2:32 PM
The Securities and Exchange Commission (SEC) filed a lawsuit against Brian Kahn, former CEO of Franchise Group Inc., alleging he defrauded investors of more than $350 million in a multi-year investment adviser fraud tied to the collapse of Prophecy Asset Management (Prophecy).
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FINRA Foundation Study Reveals Alarming Investor Susceptibility to Fraudulent Offers

October 29th, 2025 at 1:58 PM
The FINRA Investor Education Foundation (FINRA Foundation) has released preliminary findings from its upcoming report, Investors in the United States: A Report of the National Financial Capability Study.
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LATEST NEWS AND ARTICLES

November 26, 2025
Former GWG Chair Charged in Alleged $150 Million Fraud Scheme as Investor Losses Mount

Federal prosecutors have intensified scrutiny of the long-running collapse of GWG Holdings Inc., unveiling criminal charges against Bradley Heppner, the former chair of both GWG and Beneficient.

November 25, 2025
Financial Advisor Accepts FINRA Bar Amidst Investigation into Alleged Misappropriation

A financial advisor affiliated with a credit union connected to Raymond James Financial agreed to an industry bar after declining to cooperate with FINRA’s investigation into allegations that he misappropriated client funds.

November 24, 2025
Kyle Busch Alleges Considerable Losses in Indexed Universal Life (IUL) Scheme

Kyle Busch, a two-time NASCAR Cup Series champion, and his wife Samantha announced that they lost more than $8.6 million in what they describe as a “devastating financial scheme” involving an Indexed Universal Life (IUL) insurance policy.