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Eccleston Law Blog

Industry Advocates Criticize NASAA's Proposed Amendments to Business Practices Rule as Overreach

December 21st, 2023 at 2:30 PM
The North American Securities Administrators Association (NASAA) is facing criticism from the Institute for Portfolio Alternatives (IPA) and the Financial Services Institute (FSI) regarding its proposed updates to the "Dishonest or Unethical Business Practices of Broker-Dealers and Agents”, commonly known as the "Business Practices Rule."
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Cybercrime Vulnerability Among Older Population, $3.1 Billion Loss in 2022

December 20th, 2023 at 1:57 PM
A recent report highlights the vulnerability of the older population in the United States to cybercrimes, leading to a staggering loss of $3.1 billion in 2022.
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SEC Targets Fund Adviser Jonathan Larmore in $35 Million Case

December 19th, 2023 at 1:35 PM
The Securities and Exchange Commission (SEC) has filed fraud charges against ArciTerra Companies LLC, a real estate investment firm based in Phoenix, and its CEO, Jonathan M. Larmore.
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SEC Reports Unprecedented Enforcement Success in 2023

December 18th, 2023 at 1:23 PM
In its report on fiscal year 2023, the Securities and Exchange Commission (SEC) revealed a substantial increase in its enforcement efforts to protect investors and uphold market integrity.
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Mariner Wealth Advisors Request Temporary Halt to Edelman's Poaching and Defamation Lawsuit

December 15th, 2023 at 2:23 PM
Mariner Wealth Advisors has sought a court order to temporarily halt a lawsuit filed by Edelman Financial Engines, alleging that Mariner poached advisors and misappropriated trade secrets.
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Edelman Financial Files Lawsuit Against Mariner Alleging Client Poaching and Defamation

December 14th, 2023 at 11:54 AM
Edelman Financial Engines initiated legal action against Mariner Wealth Advisors, alleging that the Registered Investment Advisor (RIA) engaged in the wrongful recruitment of Edelman's financial advisors.
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Goldman Sachs Profit Drops by 33%

December 13th, 2023 at 1:24 PM
Goldman Sachs Group Inc. experienced its second consecutive quarter of real estate writedowns and a continued dealmaking slump, reducing its profitability to approximately half of its targeted level.
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CFP Board Advances Measures for Heightened Accountability and Transparent Public Sanctions

December 12th, 2023 at 3:33 PM
The CFP Board has revealed that it will release the Disciplinary and Ethics Commission (DEC) orders imposing sanctions alongside the public sanction news releases that it already publicizes. 
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TD Bank Brokerage Unit Settles FINRA Case Alleging Oversight Gaps in Email Monitoring

December 11th, 2023 at 10:57 AM
TD Private Client Wealth (TDPCW), a broker-dealer subsidiary of TD Bank, has agreed to pay a $600,000 fine and be censured following an investigation by the Financial Industry Regulatory Authority (FINRA).
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Former Advisor Receives Decade Long Prison Sentence for Fraudulent Activities

December 8th, 2023 at 1:23 PM
Former First American Securities Inc. president Thomas Brenner has been sentenced to over ten years in prison by a federal judge in Ohio.
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