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Eccleston Law Blog

SEC Struggles with RIA Arbitration Statistics

July 6th, 2023 at 8:43 AM
A recent report reveals that the Securities and Exchange Commission (SEC) lacks the means to monitor the count of registered investment advisor (RIA) arbitrations or keep track of unpaid arbitration awards.
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SEC Report Highlights Concerns Over Mandatory Arbitration Clauses In RIA Practices

June 30th, 2023 at 1:05 PM
A recent report from the Securities and Exchange Commission (SEC) to Congress has expressed concerns regarding using mandatory arbitration clauses in retail customer agreements by registered investment advisory (RIA) firms.   
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Investment Adviser Numbers Reach Unprecedented Heights

June 29th, 2023 at 1:22 PM
According to the Investment Adviser Association's (IAA) recent industry study, the number of investment advisers reached a record high in 2022, along with an increase in total employment in the sector.
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Fidelity Study Finds Rise in RIA Valuations Reaches Plateau

June 28th, 2023 at 3:43 PM
According to a recent study conducted by Fidelity Investments, the financial industry expects a continued rise in registered investment advisor (RIA) dealmaking over the next five years, despite the increasing cost of acquiring RIA firms.
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Epicenters of Investment Fraud Revealed in New Study

June 27th, 2023 at 1:15 PM
2022 witnessed a staggering surge in investment fraud, surpassing all other types of fraud in terms of monetary losses among Americans.
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Attorneys Believe James Gorman's "New Blood" Remarks Could Strengthen Ageism Lawsuits

June 26th, 2023 at 11:02 AM
James Gorman, CEO of Morgan Stanley, has faced criticism for his recent comments regarding the company's termination of around 3,500 employees since April.
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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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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.