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Eccleston Law Blog

Court Grants Former Advisor Temporary Protection in Legal Battle Against Hightower Holdings

May 3rd, 2024 at 11:24 AM
In a legal battle between a former advisor and Hightower Holdings, a Washington state court has issued a temporary restraining order (TRO) against the Chicago-based firm.
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FINRA Bars Former E-Trade Broker for Refusal to Cooperate in Investigation

May 2nd, 2024 at 10:33 AM
Matthew J. Chimento, a former broker at E-Trade Securities in Alpharetta, Georgia, has been barred by FINRA for failing to provide information and documents related to allegations of unauthorized fund transfers from a client's account.
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FINRA Arbitration Awards Wells Fargo Over $3 Million in Dispute with Ohio RIA Founders

May 1st, 2024 at 10:29 AM
A recent FINRA arbitration decision has ordered a Cincinnati-based registered investment advisor firm and two of its founders to pay Wells Fargo more than $3 million in combined damages.
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Commonwealth Financial Network Ordered to Pay $93.3 Million Over Conflicts of Interest

April 30th, 2024 at 1:35 PM
Commonwealth Financial Network has been directed to pay $93.3 million due to its failure to disclose conflicts of interest linked to a revenue-sharing program with aFidelity Investments unit.
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FINRA Regulatory Report Highlights Key Challenges

April 29th, 2024 at 1:41 PM
FINRA's recently released 2024 regulatory oversight report sheds light on evolving trends and challenges in the financial industry.
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Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients

April 26th, 2024 at 9:14 AM
Morgan Stanley has taken legal action against Gregory T. Chevrier to prevent him from contacting his former clients.
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B. Riley Financial Clears Air Amid Allegations, Stock Surges

April 25th, 2024 at 11:57 AM
Amidst swirling speculation regarding its connections with a client linked to the Prophecy Asset Management collapse, B. Riley Financial Inc. has conducted an internalreview, concluding no affiliations with the defunct hedge fund.
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RIA Insurance Claims Skyrocket

April 24th, 2024 at 11:56 AM
A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)insurers.
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Surge Predicted in Regulation Best Interest Cases

April 23rd, 2024 at 1:13 PM
According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
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FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses

April 22nd, 2024 at 11:31 AM
The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.
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