Eccleston Law Blog

SEC Charges California Advisory Firm with Operating a Ponzi-Style Scheme

October 20th, 2022 at 12:49 PM
The Securities and Exchange Commission (SEC) has charged JMJ Capital Group and its president, Richard Ramirez, with fraudulently raising millions of dollars from California-based investors. 
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SEC Charges Former Chicago LPL Advisor For Stealing $1.3 Million From Elderly Client

October 19th, 2022 at 3:09 PM
The Securities and Exchange Commission (SEC) has charged a former LPL financial advisor for stealing nearly $1.3 million from an elderly client, who suffers from dementia, and utilizing the funds to cover personal and business expenses. 
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FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap

October 18th, 2022 at 2:19 PM
The Financial Industry Regulatory Authority (FINRA) has updated its sanction guidelines used to determine the level of fines or penalties to impose on firms and their financial advisors. 
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SEC Charges 16 Financial Advisory Firms Over Recordkeeping Failures

October 17th, 2022 at 1:20 PM
The Securities and Exchange Commission (SEC) has charged 16 financial advisory firms over widespread failures by the firms and their employees to preserve electronic communications. 
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FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trading and Texting

October 14th, 2022 at 1:05 PM
The Financial Industry Regulatory Authority (FINRA) has issued a two-month suspension and a $10,000 fine to a former Morgan Stanley advisor to settle claims pertaining to unauthorized trading and improper use of a personal phone to text clients. 
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SEC Charges Real Estate Developer with Fraud

October 13th, 2022 at 12:57 PM
The Securities and Exchange Commission (SEC) has charged a Texas-based real estate developer and two other individuals for operating a fraudulent real estate investment offering that generated at least $26 million from nearly 100 investors. 
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SEC Bars Merrill Manager For Defrauding Client

October 12th, 2022 at 3:46 PM
The Securities and Exchange Commission (SEC) has barred an Annapolis, Maryland-based Merrill Lynch managed for defrauding a client from 2016 to 2020. 
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SEC Fines Raymond James $500,000 Over Supervisory Failures

October 11th, 2022 at 2:04 PM
The Securities and Exchange Commission (SEC) has imposed a $500,000 fine on Raymond James over its alleged supervisory failures related to a former Tennessee-based advisor. 
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SEC Charges Former Business News Commentator with Misappropriation of Client Funds

October 10th, 2022 at 2:59 PM
The Securities and Exchange Commission (SEC) has charged James McDonald and his financial advisory firm, Hercules Investments, in connection with two fraudulent securities offerings. 
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SEC Charges Chicago Advisor Who Allegedly Misappropriated $683,000 of Investor Funds

October 7th, 2022 at 1:08 PM
The Securities and Exchange Commission (SEC) has charged a Chicago-based advisor who allegedly misappropriated $683,000 of investor funds. 
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LATEST NEWS AND ARTICLES

September 19, 2025
Financial Advisors Split on AI Adoption

Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that financial advisors remain divided on its role and value.

September 18, 2025
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The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.