Eccleston Law Blog

State Regulators Fine Five Major Broker-Dealers Nearly $10 Million for Excessive Commission Charges

July 1st, 2025 at 3:01 PM
A coalition of state securities regulators has ordered five broker-dealers — including Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade — to pay almost $9.9 million in penalties for overcharging customers on small-value trades.
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SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches

June 30th, 2025 at 2:46 PM
The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through deceptive fee disclosures and undisclosed conflicts of interest.  
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FINRA Sanctions Advisor for Accepting $1 Million Inheritance from Client Without Firm Approval

June 27th, 2025 at 12:18 PM
FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm approval.
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SEC Charges Marine Veteran in $2.5 Million Ponzi Scheme

June 26th, 2025 at 12:11 PM
The Securities and Exchange Commission (“SEC”) has charged Marine Corps veteran Christopher Aubin with fraud, accusing him of running a $2.5 million Ponzi scheme that defrauded dozens of investors, including several of his former military colleagues.
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FINRA Fines and Suspends Advisor for Selling Away and Receiving Client Loans

June 25th, 2025 at 11:26 AM
The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Jose Antonio “Tony” Navarro for selling unapproved investments and borrowing funds from clients.
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Dr. Cash Sentenced for Defrauding Retirees

June 24th, 2025 at 10:05 AM
Terrence Chalk, an unregistered investment advisor who operated under the alias “Dr. Cash,” has been sentenced to three years in prison for orchestrating a fraudulent investment scheme that defrauded millions from unsuspecting victims.
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FINRA Fines AAG Capital for RILA Exchange Violations

June 23rd, 2025 at 1:47 PM
The Financial Industry Regulatory Authority (“FINRA”) has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution after finding it violated Regulation Best Interest (“Reg BI”) by recommending costly registered index-linked annuities (“RILAs") to retail clients in unsuitable product exchanges.
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SEC Charges Former Real Estate CEO in $46 Million Investment Fraud Scheme

June 19th, 2025 at 11:21 AM
The Securities and Exchange Commission (“SEC”) has charged Kenneth Mattson, former CEO of LeFever Mattson, with orchestrating a $46 million investment fraud scheme that targeted approximately 200 investors, many of them retired senior citizensfrom his church community in California.
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Audit Firms Agree to $46 Million Settlement in GPB Capital Fraud Case

June 18th, 2025 at 2:09 PM
In a significant development in the GPB Capital fraud litigation, several audit firms have agreed to pay a combined $46 million to settle claims tied to their alleged involvement in the $1.8 billion scheme that impacted roughly 15,000 investors, as reported by DI Wire.
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FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges

June 17th, 2025 at 11:40 AM
The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendations that resulted in customers paying higher fees.
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LATEST NEWS AND ARTICLES

October 10, 2025
Former Two Sigma Quant Researcher Faces Fraud Charges Over Manipulated Models

Federal prosecutors and the Securities and Exchange Commission (SEC) have filed parallel actions against Jian Wu, a former quantitative researcher at Two Sigma Investments, alleging he secretly manipulated algorithmic trading models to boost his own compensation by millions of dollars.

October 9, 2025
Former Merrill Lynch Advisors Fight Allegations of Corporate Raid

A dozen former Merrill Lynch advisors who launched their own firm, OpenArc Corporate Advisory, in Atlanta are pushing back against accusations that they orchestrated a “pre-meditated corporate raid.”

October 8, 2025
Northern Trust Sues Former Advisor for Alleged Fraud and Breach of Fiduciary Duty

According to ThinkAdvisor, Northern Trust Company has filed suit against former wealth management relationship advisor Christopher Walters, alleging that he engaged in “blatant fraud” and breached his fiduciary duty to both the firm and a longtime client.