Eccleston Law Blog

FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

November 15th, 2024 at 2:20 PM
FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims. 
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SIFMA Challenges CFP Board

November 14th, 2024 at 10:46 AM
According to InvestmentNews, the Securities Industry and Financial Markets Association (SIFMA) released a whitepaper criticizing the Certified Financial Planner (CFP) Board’s standards enforcement, asserting it operates as a “de facto, privateregulator.” 
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FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

November 13th, 2024 at 10:23 AM
The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance violations involving his relationship with an elderly client.
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Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

November 12th, 2024 at 2:25 PM
A Kentucky-based financial advisor accepted a $5,000 fine and a two-month suspension for operating a bourbon-tasting business without notifying his employer, Edward Jones, as required by FINRA rules.
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Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

November 11th, 2024 at 2:45 PM
Charles Schwab and its affiliates are under scrutiny after recent lawsuits allege the firm failed to prevent scammers from defrauding elderly clients.
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Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

November 8th, 2024 at 11:50 AM
Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed indexed universal life (IUL) insurance program. 
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Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

November 7th, 2024 at 3:26 PM
According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal data such as Social Security numbers and driver’s license information.
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SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

November 6th, 2024 at 1:33 PM
The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.
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LPL Financial Prepares for AML-Related SEC Settlement

November 5th, 2024 at 11:57 AM
LPL Financial has set aside $18 million in anticipation of settling an ongoing Securities and Exchange Commission (SEC) investigation into its anti-money laundering (AML) compliance program.
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Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

November 4th, 2024 at 11:57 AM
Pershing has been fined $1.4 million by FINRA for disseminating account documents with inaccurate interest rate information.
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LATEST NEWS AND ARTICLES

March 4, 2026
Modern Fraud Schemes Escalate in Scale and Sophistication

A recent panel discussion at the Financial Services Institute OneVoice conference in San Diego highlighted how rapidly evolving fraud schemes continue to victimize both retail and wealthy investors.

March 3, 2026
FINRA Suspends Former Stifel Broker Over Costly Account Switching Trades

The Financial Industry Regulatory Authority (FINRA) suspended a former Stifel, Nicolaus & Co.

March 2, 2026
FINRA Suspends Cetera Broker for Accepting $50,000 Client Bequest Without Firm Approval

The Financial Industry Regulatory Authority (FINRA) imposed a $10,000 fine and a seven-month suspension on an independent broker for accepting a $50,000 bequest from a client without obtaining prior firm approval.