Eccleston Law Blog

These Two State Regulators Serve as Financial Markets’ Primary First Responders

April 26th, 2023 at 1:35 PM
Two state securities regulators frequently stand out as “First Responders.”
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SEC Charges Betterment For Misstatements Regarding Tax Loss Harvesting Service

April 25th, 2023 at 1:20 PM
The Securities and Exchange Commission (SEC) has charged Betterment LLC for material misstatements and omissions regarding its automated tax loss harvesting services (TLH). 
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FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock

April 25th, 2023 at 8:52 AM
The Financial Industry Regulatory Authority (FINRA) has ordered RBC Wealth Management to pay $1.1 million after the firm allegedly failed to adequately supervise numerous advisors’ sales of syndicate preferred stock.
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FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock

April 24th, 2023 at 1:53 PM
The Financial Industry Regulatory Authority (FINRA) has ordered RBC Wealth Management to pay $1.1 million after the firm allegedly failed to adequately supervise numerous advisors’ sales of syndicate preferred stock.
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SEC Charges Corvex Management For Failing to Disclose Conflicts of Interest

April 21st, 2023 at 1:14 PM
The Securities and Exchange Commission (SEC) has charged Corvex Management for failing to disclose conflicts of interest related to its personnel’s ownership of sponsors of special purpose acquisition companies (SPACs).
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Ohio-Based Financial Advisors Indicted Over Massive $72 Million Ponzi Scheme

April 20th, 2023 at 1:10 PM
Ohio Attorney General Dave Yost and Ohio Department of Commerce Director Sherry Maxfield have announced multiple felony charges against a group of financial advisors who allegedly misappropriated $72 million from at least 200 clients during the past decade.
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SEC Approves FINRA’s More Restrictive CRD Expungement Rules

April 19th, 2023 at 1:07 PM
The Securities and Exchange Commission (SEC) has approved a new Financial Industry Regulatory Authority (FINRA) rule that makes it more difficult for financial advisors to expunge disputes and misconduct from their records.
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FINRA Re-Files Remote Inspection Pilot Proposal With SEC

April 18th, 2023 at 1:20 PM
The Financial Industry Regulatory Authority (FINRA) has resubmitted a proposal to the Securities and Exchange Commission (SEC) in order to permit firms to conduct remote inspections as part of a pilot program.
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FINRA Arbitration Panel Awards Double Damages to Florida Investor Over Advisor’s “Egregious” Lies

April 17th, 2023 at 4:11 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has doubled the damages a former advisor must pay to a Florida-based investor due to the “particularly egregious” lies the advisor told to convince the client to invest in a fraud.
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FINRA Arbitration Panel Orders Wells Fargo To Pay Client $500,000 For Mismanagement of McDonald’s Stock Options

April 14th, 2023 at 2:03 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay a former McDonald’s franchise owner $500,000 for allegedly mishandling stock options he owned in the company.
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TESTIMONIALS

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I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

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