Eccleston Law Blog

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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Oppenheimer Seeks Court Order to Block Former Financial Advisor from Soliciting $65 Million Client Book of Deceased Advisor

August 27th, 2024 at 11:35 AM
Oppenheimer & Co. has filed a lawsuit in federal court to restrain former advisor David Dodson from soliciting a $65 million client book that belonged to a deceased advisor.
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FINRA Bars Former Merrill Lynch Advisor

August 26th, 2024 at 10:39 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 customer.
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Q2 2024 Securities Filings and Settlements: Key Insights

August 23rd, 2024 at 1:50 PM
CRA Insights has prepared its update on Section 10(b) and Section 11 filings and settlements.
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Department of Labor's New Retirement Security Rule: What it Means for Financial Advisors

August 22nd, 2024 at 10:45 AM
The Department of Labor (DOL) unveiled its final Retirement Security Rule, addressing the fiduciary obligations of financial advisors handling retirement-related investments for plan sponsors and individuals.
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Brokerages Face Technical Meltdown Amid Market Turmoil

August 21st, 2024 at 11:42 AM
InvestmentNews recently reported that a severe technical glitch disrupted several major online brokerages as investors scrambled to trade amidst a sharp market downturn.
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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.