Tr?id=566623520170033&ev=PageView&noscript=1

Eccleston Law Blog

FINRA Struggles to Revise Outside Business Rules

June 13th, 2024 at 1:31 PM
The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, according to Robert Colby, FINRA's chief legal officer.
Read More

Tax Court Denies Madoff Victims $8.2 Million Deduction

June 12th, 2024 at 2:46 PM
Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insurance premiums.
Read More

Merrill Lynch Fined for Supervisory Failures

June 11th, 2024 at 11:17 AM
Merrill Lynch has reached an $825,000 settlement with FINRA over allegations of inadequate supervision concerning retail orders and recordkeeping practices dating back to 2017.
Read More

SEC Issues Risk Alert to Broker-Dealers Regarding Examination Criteria

June 10th, 2024 at 1:27 PM
The Securities and Exchange Commission (SEC) has issued a new Risk Alert, advising broker-dealers that their prior disciplinary history, financial stress indicators, and media reports could make them likely candidates for an examination.
Read More

Oppenheimer & Co. Fined $500,000 by FINRA for Supervisory Lapses

June 7th, 2024 at 11:27 AM
Oppenheimer & Co. has agreed to a $500,000 fine to settle allegations made by FINRA regarding inadequate supervision of certain trades conducted by its advisors directly with fund companies on behalf of customers.
Read More

Regulatory Probes Target Morgan Stanley's Wealth Management Arm

June 6th, 2024 at 1:20 PM
Multiple regulatory agencies, including the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), are conducting investigations into Morgan Stanley's wealth management division, as reported by the Wall Street Journal.
Read More

FINRA Arbitration Awards $100,000 to Investor Over Unsuitable GWG L Bonds

June 5th, 2024 at 10:57 AM
In a recent FINRA arbitration, an investor was awarded close to $100,000 due to unsuitable investments in GWG L bonds purchased in 2018 and 2020.
Read More

SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

June 4th, 2024 at 1:13 PM
The U.S. Securities and Exchange Commission (SEC) has taken legal action against Robert M. Thompson and Financial Freedom Foundation (F3 Mastermind), a private entity under his control, for allegedly defrauding investors through three securities offerings.
Read More

Bank Sues Founders of Precedent Wealth

June 3rd, 2024 at 4:08 PM
Cadence Bank has filed a lawsuit against the founders of Precedent Wealth, a San Antonio RIA, accusing them of stealing confidential information and trade secrets in an effort to poach clients from their former firm.
Read More

Advisor Ordered to Pay $2.6 Million in Damages for Breaching Asset Purchase Agreement

May 31st, 2024 at 2:13 PM
A FINRA arbitration panel has ordered Nicole E. Sennett to pay $2,557,000 in compensatory damages to Monocacy Wealth Partners and its founders, Scott A. Brantingson and his son, Scott M. Brantingson.
Read More

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1785249991 Law
July 28, 2026
Merrill Lynch Fined by FINRA for Failing to Report More Than 1,600 Customer Complaints

Merrill Lynch has agreed to pay a $225,000 fine and accept a censure to resolve allegations that it failed to properly identify and report more than 1,600 customer complaints submitted through post-call surveys, according to a Financial Industry Regulatory Authority (FINRA) Acceptance, Waiver and Consent letter ("AWC").

1784905692 Law
July 24, 2026
Independent Review Recommends Sweeping Changes to FINRA's Enforcement Program

An independent review commissioned by the Financial Industry Regulatory Authority (FINRA) recommends significant changes to the regulator's enforcement program, including adopting a statute of limitations, expanding due process protections, and providing greater credit to firms that cooperate during investigations, according to AdvisorHub.

1784829196 Law
July 23, 2026
Cresset Sues Former Advisor Over Alleged Client Solicitation and Competing RIA Launch

Cresset Capital Management has filed a lawsuit in Illinois state court against a former advisor, alleging that he began building a competing registered investment advisory firm and soliciting clients while still employed by the Chicago-based wealth management firm.