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Eccleston Law Blog

Former LPL Advisor Receives 8-Year Prison Sentence For Misappropriation of Client Funds

January 31st, 2023 at 1:30 PM
A former LPL financial advisor recently was sentenced to more than eight years in prison, or 100 months, for his role in a scheme that misappropriated $2.8 million from six clients. 
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Silvergate Shares Skyrocket Amidst FTX Meltdown

January 30th, 2023 at 12:54 PM
Silvergate Capital share prices increased after the company announced its fourth-quarter results, even after FTX’s collapse, which forced Silvergate to fire staff and sell assets.
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SEC Files Suit Against Gemini and Genesis Over Crypto “Earn” Program

January 27th, 2023 at 1:46 PM
The Securities and Exchange Commission (SEC) has filed suit against two crypto brokerages, Genesis Global Capital and Gemini Trust Co., for breaching federal securities laws. 
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FINRA Releases 2023 Report on Its Examination and Risk Monitoring Program

January 26th, 2023 at 3:39 PM
The Financial Industry Regulatory Authority (FINRA) recently released its 2023 Report on FINRA’s Examination and Risk Monitoring Program.
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J.P. Morgan Accuses Advisor Of Improperly Transferring Clients to Morgan Stanley in His Transition

January 25th, 2023 at 2:10 PM
J.P. Morgan has asked a court for a temporary injunction to stop a former advisor from transferring clients during his transition to his new firm, Morgan Stanley. 
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SEC Charges Samuel Bankman-Fried With Using FTX To Defraud Crypto Investors

January 24th, 2023 at 2:57 PM
The Securities and Exchange Commission (SEC) has charged Samuel Bankman-Fried with operating a scheme to defraud equity investors in FTX Trading Ltd. 
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FINRA Expands Enforcement Priorities For 2023

January 23rd, 2023 at 1:08 PM
The Financial Industry Regulatory Authority (FINRA) has announced a plan to expand its enforcement priorities in 2023 to include new areas of focus. 
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New CFP Board Chair Plans to Release New Sanction Guidelines by Midyear

January 20th, 2023 at 2:04 PM
The new Certified Financial Planner Board of Standards (CFP Board) chair, Daniel Moisand, has announced a plan to release revised sanction guidelines for public comment by midyear. 
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Genesis Global Capital Prepares to File for Bankruptcy

January 19th, 2023 at 2:04 PM
Genesis Global Capital is preparing to file for bankruptcy as soon as this week, according to sources interviewed by Bloomberg News. 
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Proposal to Prohibit Non-Compete Clauses May Impact Mergers and Acquisitions of RIAs

January 18th, 2023 at 3:06 PM
A federal prohibition on noncompete clauses may impact future mergers and acquisitions of investment advisory firms as well as how financial advisors transfer to new firms. 
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