Eccleston Law Blog

FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

November 4th, 2025 at 9:23 AM
The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.
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Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

November 3rd, 2025 at 9:53 AM
Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam and a separate scheme involving over $4.75 million in fraudulent Paycheck Protection Program (PPP) loans, according to U.S. Attorney Gregory W. Kehoe for the Middle District of Florida.
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Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

October 31st, 2025 at 10:13 AM
Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was unduly influenced when it issued an advisory opinion that sought to undermine their deferred compensation claims.
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SEC Sues Former Franchise Group CEO Over $350 Million Hedge Fund Fraud

October 30th, 2025 at 2:32 PM
The Securities and Exchange Commission (SEC) filed a lawsuit against Brian Kahn, former CEO of Franchise Group Inc., alleging he defrauded investors of more than $350 million in a multi-year investment adviser fraud tied to the collapse of Prophecy Asset Management (Prophecy).
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FINRA Foundation Study Reveals Alarming Investor Susceptibility to Fraudulent Offers

October 29th, 2025 at 1:58 PM
The FINRA Investor Education Foundation (FINRA Foundation) has released preliminary findings from its upcoming report, Investors in the United States: A Report of the National Financial Capability Study.
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UBS Seeks Court Order Against $1.4 Billion Florida Advisory Team Over Client Solicitation Allegations

October 28th, 2025 at 2:29 PM
UBS Wealth Management USA has filed a lawsuit and requested a temporary restraining order (TRO) against a $1.4 billion advisory team that recently departed to join Elevation Point, a West Palm Beach-based registered investment advisor launched just 15 months ago.
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FINRA Panel Orders Charles Schwab to Pay Damages Over Structured Product Losses Sold by Vora Wealth Management

October 27th, 2025 at 11:46 AM
A three-person FINRA arbitration panel ordered Charles Schwab & Co. to pay $165,440 in compensatory damages to a former client of Vora Wealth Management, after losses tied to complex structured products.
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Arizona Securities Division Issues Cease-and-Desist Order Against Former LPL Broker Over Crypto Fund Sales

October 24th, 2025 at 9:39 AM
The Arizona Securities Division issued a cease-and-desist order against former LPL Financial advisor Lisa Boisselle and her firm, Wealthwise, alleging violations of state securities laws connected to nearly $1.4 million in cryptocurrency fund sales.
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Retail Access to Private Markets Raises Investor Protection and Regulatory Concerns

October 23rd, 2025 at 2:11 PM
Robinhood Markets recently registered its first alternative investment vehicle, Robinhood Ventures Fund I, with the Securities and Exchange Commission (SEC).
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Judge Denies Merrill Lynch's TRO in Advisor Transition

October 21st, 2025 at 2:31 PM
A federal judge has rejected Merrill Lynch’s request for a temporary restraining order (TRO) against a group of former financial advisors who left the firm to launch their own independent practice, OpenArc Corporate Advisory, under Dynasty Financial Partners’ platform with custody at Charles Schwab.
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LATEST NEWS AND ARTICLES

January 30, 2026
FINRA Arbitration Panel Orders J.P. Morgan to Amend Form U-5, Flags Potential Pattern of Conduct

A Financial Industry Regulatory Authority (FINRA) arbitration panel recently issued an unusually detailed decision in a dispute between J.P. Morgan Securities and former advisor Joshua David Sappi Biering, shedding rare light on how a firm may deploy - and sometimes abuse - the Form U-5 during advisor departures.

January 29, 2026
OFAC Targets Individual Trustee, Sending a Clear Warning to Fiduciaries and Family Offices

In a rare move, the Office of Foreign Assets Control (OFAC) penalized a former U.S. government official, underscoring that professional gatekeepers can face personal liability for sanctions violations tied to trust administration.

January 28, 2026
FINRA Advances Overhaul of Outside Business Activity Rules to the SEC

FINRA formally has advanced its proposed overhaul of outside business activity (OBA) regulations to the Securities and Exchange Commission.