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Eccleston Law Blog

The Growing Compliance Risks of Neglecting Life Settlement Discussions

June 23rd, 2023 at 1:58 PM
According to a recent article in Wealth Solutions Report, broker-dealers should consider enhanced oversight pertaining to suitability, recommendations, and the use of funds obtained from life settlement transactions.
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Surge in Elderly-Targeted Cryptocurrency Scams

June 22nd, 2023 at 11:26 AM
According to U.S. Department of Justice research, over 3,000 senior citizens were victims of investment cryptocurrency scams. 
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SEC Files Charges Against Florida Resident Cedric Griffin for $5.9 Million Ponzi Scheme Targeting African American Community

June 21st, 2023 at 1:36 PM
Cedric Dewayne Griffin has been charged by the Securities and Exchange Commission (SEC) for running a Ponzi scheme targeting the African American community in Jacksonville, Florida, and in other regions.
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FINRA Bars LPL Advisor for Non-Cooperation in Overdraft Investigation

June 20th, 2023 at 1:19 PM
The Financial Industry Regulatory Authority (FINRA) has banned a former advisor from LPL Financial due to his refusal to cooperate with an investigation.
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Five Major Rules The SEC Plans To Finalize By Year-End

June 19th, 2023 at 8:57 AM
According to the Securities and Exchange Commission’s (SEC) Spring 2023 regulatory flexibility agenda, the SEC plans to finalize several controversial rules by the end of the year.
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Former LPL Advisor Created Fraudulent Bank Account To Steal $1.3 Million From Customer

June 15th, 2023 at 11:01 AM
The Securities and Exchange Commission (SEC) filed a complaint accusing Patrick N. Thayer of stealing $1.3 million from a customer.
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Silver Star Properties REIT Raises Concerns about Future Viability in SEC Filing

June 15th, 2023 at 8:59 AM
Silver Star Properties REIT Inc., previously known as Hartman Short Term Income Properties XX Inc., has raised concerns about its ability to sustain operations in its latest quarterly report filed with the Securities and Exchange Commission (SEC).
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SEC Announces Expanded Scope of Marketing Rule Compliance Exams for Investment Advisers

June 13th, 2023 at 2:08 PM
The Securities and Exchange Commission (SEC) recently released a risk alert announcing that examiners now will broaden their focus when reviewing firms' compliance with a marketing rule that took effect in November.
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Morgan Stanley Wealth Management Initiates Management Restructuring in Southern New Jersey and New York City

June 12th, 2023 at 1:14 PM
In an internal announcement this week, Morgan Stanley unveiled what it portrays as a strategic reorganization in Southern New Jersey and New York City, with the net result being that Christopher W. Shaw, a Morgan Stanley veteran, and manager in SouthernNew Jersey, will step down.
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Retrospective Review Deadline Approaching

June 9th, 2023 at 2:11 PM
The deadline for completing the initial retrospective review required by the Department of Labor (DOL) is quickly approaching.
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