Eccleston Law Blog

SEC Proposes Reforms for Internet-Exclusive Investment Advisers

August 1st, 2023 at 10:51 AM
The Securities and Exchange Commission (SEC) introduced proposed amendments to the rule that allows specific investment advisers offering their services online to register with the Commission.
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FINRA Fines LPL Over Failure to Detect Harmful Wire Transfers to Clients

July 31st, 2023 at 1:13 PM
The Financial Industry Regulatory Authority Inc. (FINRA) imposed a $3 million fine on LPL Financial for failing to oversee two financial advisors adequately.
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PIABA Urges SEC to Limit RIAs' Mandatory Arbitration and Mandate Disclosure of Client Claims

July 28th, 2023 at 11:02 AM
The Public Investors Advocate Bar Association (PIABA), a trade group representing plaintiffs' lawyers, has urged the Securities and Exchange Commission (SEC) to take action against the "broken" arbitration system used by investors bringing claims against registered investment advisers (RIAs).
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FINRA Suspends Former LPL Advisor for Unreported Moonlighting as College Professor and Hedge Fund Advisor

July 27th, 2023 at 1:48 PM
The Financial Industry Regulatory Authority (FINRA) finalized a letter of settlement, formally known as an Acceptance, Waiver and Consent (“AWC”), suspending a former LPL Financial advisor, Gregory E. Collins, for six months and imposing a $12,500 fine.
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Potential Downturn Predicted for RIA Mergers and Acquisitions

July 26th, 2023 at 9:44 AM
According to DeVoe & Company's second-quarter RIA Deal Book report, RIA mergers and acquisitions (M&A) are experiencing a decline.
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SEC Proposes Enhanced Examination Resources For RIAs in Light of Industry Growth

July 25th, 2023 at 8:42 AM
The Securities and Exchange Commission's (SEC) Chair, Gary Gensler, has presented a solution to address the challenge of overseeing the growing number of registered investment advisors (RIA) within the Division of Examinations.
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Digital World SPAC Settles SEC Charges for Material Misrepresentations to Investors

July 24th, 2023 at 3:17 PM
Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), settled fraud charges for making material misrepresentations in forms filed with the SEC as part of DWAC’s initial public offering and proposed merger with Trump Media & Technology Group Corp. (TMTG).
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SEC Wants to Add 83 Examiners

July 21st, 2023 at 1:22 PM
The Appropriations Committee appropriated $2.4 billion to the Securities and Exchange Commission (SEC), $194 million more than the fiscal year 2023 enacted level and close to $73 million less than the budget request.
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Oklahoma Adopts Best Interest Annuity Rule

July 20th, 2023 at 1:14 PM
Oklahoma joins 39 other states including Illinois, Georgia, Washington, Florida, Tennessee, Kansas, Oregon, and Wyoming by finalizing a best-interest rule for annuities.
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Silver Star Properties REIT Investigated by SEC

July 19th, 2023 at 1:15 PM
Silver Star Properties REIT Inc. received notice of an investigation by the Securities and Exchange Commission.
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LATEST NEWS AND ARTICLES

September 18, 2025
Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.