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Eccleston Law Blog

FINRA Takes Action Against Advisor for Violating Regulation Best Interest

April 9th, 2024 at 3:46 PM
The Financial Industry Regulatory Authority (FINRA) has sanctioned a former advisor at Network 1 Financial Securities for breaching Regulation Best Interest (Reg BI) through excessive trading in a client's account.
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FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Rule Violations

April 9th, 2024 at 8:57 AM
The Financial Industry Regulatory Authority (FINRA) has imposed a $1.6 million fine on Morgan Stanley for repeated violations of rules established by the Municipal Securities Rulemaking Board (MSRB) concerning the processing and settlement of municipal securities transactions.
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Former Edward Jones Advisor opts for Industry Bar Amid FINRA Investigation

April 5th, 2024 at 1:27 PM
Reuben L. Brown, a former advisor at Edward D. Jones & Co. in Southlake, Dallas, has chosen an industry bar over cooperating with a Financial Industry Regulatory Authority (FINRA) investigation related to his termination from the firm, according to an Acceptance, Waiver and Consent (“AWC”).
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FINRA Issues Wells Notice to Advisor Austin Dutton

April 4th, 2024 at 1:14 PM
Austin Dutton, a seasoned Philadelphia-area advisor, received a Wells Notice from the Financial Industry Regulatory Authority Inc. (FINRA).
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Former Advisor Awarded $147,000 in Morgan Stanley Dispute Over Congressional Run

April 3rd, 2024 at 3:18 PM
In a recent arbitration decision, FINRA ordered Morgan Stanley to pay $147,000 in damages to Deborah Adeimy, a former advisor from Florida.
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FINRA Charges Multiple Firms for Communication Failures

April 2nd, 2024 at 10:04 AM
FINRA has penalized several broker-dealers and investment advisors for widespread and longstanding failures to maintain and preserve electronic communications, including WhatsApp messages and texts.
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FINRA Charges Advisor for Illicit Commissions Linked to Unregistered Advisor

April 1st, 2024 at 9:53 AM
The Financial Industry Regulatory Authority Inc. (FINRA) has taken action against a California broker, Daniel Beech, allegedly for funneling $900,000 in commissions to an unregistered financial advisor.
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FINRA Sanctions Advisor for Unapproved Fundraising Activities Following Approved OBA

March 28th, 2024 at 1:07 PM
The Financial Industry Regulatory Authority (FINRA) has levied a $15,000 fine and a 21-month suspension against a former advisor, Jeffrey W. Davidson, based in Austin, Texas. Davidson engaged in fundraising activities that raised over $10 million for a fitness company owned by him and his wife.
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FINRA Sanctions Advisor for Signature Falsifications

March 27th, 2024 at 2:10 PM
A 46-year industry veteran from Braintree, Massachusetts, Timothy W. Leveroni, has settled a disciplinary matter by the Financial Industry Regulatory Authority (FINRA) for falsifying signatures, per a settlement agreement known as an Acceptance Waiver and Consent (“AWC”).
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SEC Accuses Former Morgan Stanley Advisor of Defrauding Clients

March 26th, 2024 at 4:32 PM
The Securities and Exchange Commission (SEC) has filed fraud charges against Jesus Rodriguez, accusing him of misappropriating nearly $3.5 million from at least 10 brokerage account holders and advisory clients.
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