Eccleston Law Blog

Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

September 19th, 2023 at 10:26 AM
The Financial Industry Regulatory Authority (FINRA) has fined and censured broker-dealer Network 1 Financial Securities and its chief compliance officer for violating Regulation Best Interest (Reg BI).
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Troubles at an Arizona Park Funded by Municipal Bonds Are a Warning to Investors

September 18th, 2023 at 2:20 PM
The recent financial troubles at a sports arena in Mesa, Arizona, demonstrate that not all municipal bonds are equally safe.
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Goldman Sachs and JPMorgan Join $500 Million Lawsuit Settlement

September 15th, 2023 at 1:35 PM
Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., and UBS AG have agreed to settle an antitrust class action by pension funds over their control of the market for stock loans for hedging and short selling, according to Bloomberg Law.
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SEC's Examination of RIAs Focuses on Leadership Changes

September 14th, 2023 at 10:09 AM
The Securities and Exchange Commission’s Division of Examinations issued a risk alert announcing its new focus.
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SEC Introduces Stricter Fee Disclosure Rules for Hedge Funds and Private Equity Firms

September 13th, 2023 at 1:16 PM
The US Securities and Exchange Commission (SEC) has adopted new rules that will compel hedge funds and private equity firms to provide more transparent information about their fees and impose restrictions on granting special privileges to investors.
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Massachusetts Supreme Court Affirms Fiduciary Duty Rule for Brokers

September 12th, 2023 at 11:36 AM
The Massachusetts Supreme Judicial Court ruled that William Galvin, the state's top securities regulator, acted within his authority in September 2020 when he established the state's investment advice rule, which imposed a fiduciary duty rule on financial advisors.
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Unregistered Broker Faces SEC Charges for Illegally Selling Securities

September 11th, 2023 at 11:31 AM
The Securities and Exchange Commission (SEC) has charged Blake Cathey with unlawfully selling securities of Florida-based Accanito Equity LLC, Accanito Equity II LLC, Accanito Equity III LLC, and Accanito Equity IV LLC to retail investors.
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Morgan Stanley Ordered to Pay $1.8 Million to Investor

September 7th, 2023 at 4:08 PM
In a recent decision, three arbitrators from the Financial Industry Regulatory Authority (FINRA) ordered Morgan Stanley to pay $1.8 million in damages to a former customer.
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Pennsylvania Financial Advisor Terminated Following Lawsuit

September 6th, 2023 at 3:42 PM
LPL Financial has terminated John A. Dougherty following his being sued for allegedly over-leveraging an investor's account using a $5 million securities-based loan and assisting him in an external investment.
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Wells Fargo Resolves SEC Dispute Over Advisory Fees

September 5th, 2023 at 1:18 PM
The Securities and Exchange Commission (SEC) announced charges against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively, “Wells Fargo”).
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LATEST NEWS AND ARTICLES

January 15, 2026
FINRA Flags Risks of Early Withdrawals and Exchanges in Registered Index-Linked Annuities

The Financial Industry Regulatory Authority (FINRA) has issued a renewed warning to the industry about the risks consumers face when they exit registered index-linked annuities (RILAs) before the end of the contract term.

January 14, 2026
FINRA Fines and Suspends Wells Fargo Advisor Over Fictitious Expense Claims

The Financial Industry Regulatory Authority (FINRA) fined and suspended a Wells Fargo Advisors representative in Waco, Texas, after finding that he submitted fictitious business expense claims, according to a FINRA Acceptance, Waiver and Consent (AWC) letter.

January 12, 2026
Florida Man Indicted in $36 Million Investment Fraud Scheme

According to news sources, federal prosecutors allege that a Florida man orchestrated a multimillion-dollar Ponzi scheme that funded a luxury lifestyle built on stolen investor money, according to the U.S. Department of Justice.