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Eccleston Law Blog

Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

November 20th, 2024 at 3:58 PM
Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illinois was set to rule on the firm’s injunction request.
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Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

November 19th, 2024 at 1:39 PM
Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive and unsuitable options trading from June 2018 to August 2019.
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Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Rule Violations

November 18th, 2024 at 3:47 PM
The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC’s marketing rule.
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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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