Eccleston Law Blog

FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

February 19th, 2024 at 1:54 PM
During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker-dealers' communications about cryptocurrencies.
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Major Investors Opt Out of Class Actions, Pursue Larger Recoveries

February 16th, 2024 at 1:59 PM
Large shareholders increasingly are choosing to opt out of class-action settlements, a trend that has gained momentum since a pivotal US Supreme Court ruling altered the landscape.
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New Jersey Advisor Faces Charges for Alleged $89 Million Investor Fraud Scheme

February 15th, 2024 at 2:42 PM
Raymond John Pirrello Jr., a barred New Jersey advisor, has been indicted on three counts, including securities fraud conspiracy and wire fraud conspiracy, for allegedly defrauding investors of nearly $89 million.
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FINRA Adopts New Rules for Remote Inspections and Home Offices

February 14th, 2024 at 11:50 AM
The Financial Industry Regulatory Authority (FINRA) has implemented new rules to enhance its remote inspections pilot program and address home offices as "residential supervisory locations."
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Robinhood Settles Regulatory Action and Agrees to Overhaul Gamification Practices

February 13th, 2024 at 1:44 PM
After a prolonged legal battle with the Massachusetts Securities Division, Robinhood has agreed to pay $7.5 million and revamp its digital engagement practices, according to Secretary of the Commonwealth William Galvin.
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FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades

February 12th, 2024 at 10:57 AM
A former Edward Jones financial advisor in San Francisco, Jilena Yuen-Han Mok, has been fined and suspended by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized trading.
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New "XXXX" Exchange-Traded Notes Draw Attention

February 9th, 2024 at 11:21 AM
A recently introduced investment strategy in the United States is gaining attention for its amplified stock leverage.
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FINRA Issues Warning Amid Surge in "Investment Group" Frauds on Social Media

February 8th, 2024 at 2:27 PM
The Financial Industry Regulatory Authority (FINRA) reports a surge in investor complaints related to fraudulent "investment groups" exploiting social media platforms.
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FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations

February 7th, 2024 at 3:10 PM
Malay Kumar, a former advisor affiliated with Cambridge Investment Research, recently agreed to settle a disciplinary matter brought by FINRA. The AWC (Acceptance, Waiver, and Consent) reflects a $10,000 fine and a 12-month suspension. The settlement revealed that Kumar recommended a series of variable annuity exchanges that violated Reg BI.
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RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Wealth Following FINRA Fine

February 6th, 2024 at 10:45 AM
EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percent stake to Sanctuary Wealth almost two years ago.
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LATEST NEWS AND ARTICLES

December 18, 2025
UBS Warns of Rising Default Risk in Private Credit

A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.

December 17, 2025
Audit Failures, Whistleblower Claims, and Renewed Scrutiny of the Big Four

A series of lawsuits, congressional findings, and high-profile corporate collapses has reignited long-standing concerns about the audit industry’s ability to confront fraud, as reported by Bloomberg Law.

December 16, 2025
Reminders for CFAs in Adhering to Compliance Standard, Client-Disclosure and Conflict Management Requirements

In 2023, the CFA Institute Board of Governors approved targeted revisions to the Standards of Professional Conduct, adding one new standard and updating two others.