Eccleston Law Blog

UBS Seeks Injunction Against $8 Million Indiana RBC Team

November 18th, 2022 at 1:14 PM
UBS Wealth Management has asked a federal court to issue a temporary restraining order (TRO) against an $8 million team that departed to RBC Wealth Management in Indianapolis, Indiana. 
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CFP Board Suspends Oklahoma Planner Gregory Womack

November 17th, 2022 at 1:20 PM
The Certified Financial Planner Board of Standards (CFP Board) has issued an interim suspension to Gregory Womack, who operates Womack Investment Advisors in Edmond, Oklahoma.
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SEC Charges Creator of Global Crypto Ponzi Scheme and Three U.S. Promoters Over $295 Million Fraud

November 16th, 2022 at 2:51 PM
The Securities and Exchange Commission has charged Douver Braga, Joff Paradise, Keleionalani Taylor, and Jonathan Tetrault for their roles in Trade Coin Club, which was a fraudulent Ponzi scheme that raised nearly $295 million from over 100,000 investors worldwide. 
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FINRA Releases Regulatory Notice Urging Advisors To Prepare Succession Plans

November 15th, 2022 at 1:12 PM
The Financial Industry Regulatory Authority (FINRA) is urging financial advisors to establish a succession plan incase of unexpected life events as an increased number of advisors near retirement.
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Former Advisor Receives 20-Year Prison Sentence Over Ponzi Scheme Involving Purchase of Advisors’ Books of Business

November 14th, 2022 at 1:04 PM
A former financial advisor who was sentenced earlier this year to 17.5 years in prison for his role in operating a Ponzi scheme now has received a 20-year prison sentence for mail fraud related to the same scheme, according to court documents.
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FINRA Seeks to Extend Remote Inspections Through 2023

November 11th, 2022 at 12:55 PM
The Financial Industry Regulatory Authority (FINRA) is once again seeking to extend a temporary rule permitting financial advisory firms to remotely examine branch offices. 
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FINRA Suspends Former LPL Advisor Who Promised Client “Plenty of Money”

November 10th, 2022 at 2:11 PM
The Financial Industry Regulatory Authority (FINRA) has issued a three-month suspension and $10,000 fine to a former LPL advisor who allegedly promised to double a client’s investment by improperly texting the client from a personal phone.
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Hartman Short Term Income Properties Hires Raymond James to Consider Strategic Alternatives

November 9th, 2022 at 2:55 PM
A publicly registered non-traded real estate investment trust, Hartman Short Term Income Properties, has announced that its board of directors has hired Raymond James to help the business pursue strategic alternatives. 
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Former Securities America Advisor Charged with Misappropriating $260,000

November 8th, 2022 at 1:20 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former Securities America advisor who allegedly misappropriated $260,000 from clients.
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Merrill to Discontinue 3% Withholding on Financial Advisor Pay

November 7th, 2022 at 1:16 PM
Merrill Lynch has announced plans to discontinue a 2019 pay cut program in a rare concession to its sales force amidst a period of elevated attrition, according to AdvisorHub sources.
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LATEST NEWS AND ARTICLES

December 19, 2025
Industry Groups Press Senate at Advance Financial Exploitation Prevention Act

Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.

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A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.

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Audit Failures, Whistleblower Claims, and Renewed Scrutiny of the Big Four

A series of lawsuits, congressional findings, and high-profile corporate collapses has reignited long-standing concerns about the audit industry’s ability to confront fraud, as reported by Bloomberg Law.