Eccleston Law Blog

FINRA Submits Further Revisions To Remote Supervision Proposal

April 6th, 2023 at 3:05 PM
The Financial Industry Regulatory Authority (FINRA) has submitted to the Securities and Exchange Commission (SEC) another revision to one of its two remote supervision proposals. 
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FINRA Warns Firms Regarding Fraudulent Account Transfers

April 5th, 2023 at 1:54 PM
The Financial Industry Regulatory Authority (FINRA) is warning financial advisory firms about a recent increase in fraudulent transfers of client accounts via the Automated Customer Account Transfer Service (ACATS).
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Morgan Stanley Ordered to Pay $782,000 Over Mismanagement of Client’s Estate

April 4th, 2023 at 1:05 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $782,000 to a client’s estate after the firm allegedly ignored court-ordered limits when permitting a conservator to withdraw from the account.
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Non-Traded REIT Redemptions Exceed 350% of Fundraising in February

April 3rd, 2023 at 1:31 PM
Fundraising among non-traded real estate investment trusts has dipped to $489 million in February 2023, which constitutes the lowest point since August 2020.
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SEC Charges Financial Advisor With Misappropriating Funds From NBA Players

March 31st, 2023 at 1:18 PM
The Securities and Exchange Commission (SEC) has charged a former Morgan Stanley advisor, Darryl Cohen, with misappropriating nearly $1 million from three current and former NBA players over a two-and-a-half-year period.
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Coinbase Receives SEC Wells Notice Regarding Intent to File Suit Over Crypto Offerings

March 30th, 2023 at 1:20 PM
Coinbase Global announced that it has received a Wells Notice from the Securities and Exchange Commission (SEC) declaring the regulator’s intent to file an enforcement action against the cryptocurrency exchange.
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FINRA Suspends Long Island Advisor Over Inaccurate Client Contact Notes

March 29th, 2023 at 2:31 PM
The Financial Industry Regulatory Authority (FINRA) has issued a two-month suspension to a Long Island-based advisor, Derek Rehill, for allegedly recording inaccurate notes related to four phone calls with clients.
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SEC Charges Financial Advisor and Firm for Defrauding Clients with Annuity Sales

March 28th, 2023 at 3:04 PM
The Securities and Exchange Commission (SEC) has charged a Massachusetts-based financial advisor, Jeffrey Cutter, and his firm, Cutter Financial Group, for failing to disclose conflicts of interest in connection with annuity sales. 
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Heartland Bank & Trust Co. Agrees to $9 Million Settlement For Allegedly Aiding and Abetting a Ponzi Scheme

March 24th, 2023 at 2:11 PM
The Securities and Exchange Commission (SEC) has agreed to a $9 million settlementwith Heartland Bank & Trust Co. over the bank’s alleged role in aiding and abetting a $75million Ponzi scheme.
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Morgan Stanley Obtains TRO Against Pennsylvania LPL Advisor Over Inherited Accounts and Misrepresentations

March 23rd, 2023 at 1:13 PM
A federal judge has awarded Morgan Stanley a temporary restraining order (TRO)against a Pennsylvania-based advisor who recently departed for LPL Financial.
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LATEST NEWS AND ARTICLES

January 16, 2026
SEC Signals Sweeping IPO Rule Changes to Ease Path for Smaller Companies

The Securities and Exchange Commission (SEC) plans to overhaul its public offering framework to make it easier for smaller companies to access the public markets, according to remarks SEC Chairman Paul Atkins delivered at the New York Stock Exchange, as reported by Bloomberg Law.

January 15, 2026
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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.