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Eccleston Law Blog

SEC Approves Eased Oversight Guidelines for Remote Advisors

January 5th, 2024 at 1:34 PM
Advisors opting for home offices received a nod from the Securities and Exchange Commission (SEC) as it greenlit rules permitting remote inspections of advisors' offices.
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Alternative Liquidity Capital Proposes Tender Offer for Shares of Closed Wildermuth Fund

January 4th, 2024 at 2:39 PM
Liquidity Index LP, an affiliated Delaware limited partnership of Alternative Liquidity Capital, has offered to acquire up to 238,000 Class I shares of The Wildermuth Fund.
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SEC Imposes Fines on Advisors for Regulation best Interest (Reg BI) Violations

January 3rd, 2024 at 11:52 AM
The Securities and Exchange Commission (SEC) has sanctioned two Laidlaw advisors, Richard Michalski and Michael Murray, for violating Regulation Best Interest's care obligation by making recommendations to four retail customers without a reasonable basis.
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Morgan Stanley Agrees to Fine for Failure to Provide Fund Disclosures

January 2nd, 2024 at 1:16 PM
Morgan Stanley has agreed to a censure and a $400,000 fine following a Financial Industry Regulatory Authority (FINRA) investigation, which revealed the failure to deliver prospectuses to approximately 44,000 accounts invested in specific exchange-traded funds (ETFs).
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SEC Unmasks Connecticut-Based Adviser's $5.9 Million Fraud Scheme

January 2nd, 2024 at 11:45 AM
The Securities and Exchange Commission (SEC) has unveiled a case of alleged fraud involving Connecticut-based unregistered investment adviser John A. Masanotti, Jr., and his company, Middlesex Mortgage Group LLC.
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Former Morgan Stanley Advisor Agrees to Settle with FINRA for Unapproved Investments

December 22nd, 2023 at 10:39 AM
Former Morgan Stanley advisor Sara Y. Qazi has agreed to a $15,000 fine and a three-month suspension after the Financial Industry Regulatory Authority (FINRA) had alleged that she aided a client in an unauthorized private investment.
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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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LATEST NEWS AND ARTICLES

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June 26, 2026
FINRA Seeks to Make Remote Inspection Program Permanent

The Financial Industry Regulatory Authority (FINRA) is seeking approval from the Securities and Exchange Commission (SEC) to make its pandemic-era remote inspections program permanent before the current pilot is scheduled to expire in June 2027, according to AdvisorHub and FINRA's summary of its recent Board of Governors meeting.

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June 25, 2026
SEC Alleges Illinois Investment Adviser Misappropriated Investor Funds and Concealed Losses

According to a litigation release published on SEC.gov, the Securities and Exchange Commission (SEC) has charged John Sterling Myers and his firms, Sterling Capital, LLC and Sterling Capital Management, LLC, with orchestrating a multi-year fraud involving investor funds held in a pooled investment vehicle.

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June 24, 2026
FINRA Suspends Former Broker Over Undisclosed Business Activities, Annuity Recommendation, and Customer Data Violations

The Financial Industry Regulatory Authority (FINRA) has suspended former registered representative Clayton K.