Eccleston Law Blog

FINRA Settles With Kovack Over Failure to Supervise

September 9th, 2022 at 1:11 PM
Kovack Securities over the firm’s failure to supervise one of its unnamed advisors who improperly recommended short-term investments in mutual fund share classes. 
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FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

September 8th, 2022 at 1:48 PM
The Financial Industry Regulatory Authority (FINRA) has issued a 45-day suspension and a $5,000 fine on a former Merrill Lynch advisor who allegedly completed unauthorized trades in three separate client accounts. 
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Former Rockefeller Advisor Lands at Colorado RIA After Unauthorized Trading Allegations

September 7th, 2022 at 2:08 PM
A former Rockefeller Capital Management advisor, Brent Hablutzel, has joined an LPL Financial-affiliated firm after his termination in July over allegations that he completed several unauthorized trades on behalf of his clients. 
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SEC Charges Denver Real Estate Developer with Securities Fraud

September 6th, 2022 at 12:53 PM
The Securities and Exchange Commission (SEC) has charged a Denver real estate developer, WDC Holdings LLC, as well as its owner, Robert Watson, for allegedly misrepresenting their investments in securities offerings to fund ten distinct real estate projects. 
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California Advisor Terminated From Two Firms Over Undisclosed Outside Business

September 2nd, 2022 at 1:19 PM
A California-based financial advisor had his record tarnished on two occasions in a six-month period over related undisclosed outside business activity (OBA) allegations. 
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Massachusetts Initiates Sweep of Single-Stock ETFs

September 1st, 2022 at 3:24 PM
Massachusetts’ head securities regulator, William Galvin, has initiated a sweep of complex single-stock exchange-traded fund (ETF) offerings that were recently introduced to the public. 
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Former Advisor Pleads Guilty To Fraudulently Obtaining Paycheck Protection Program Loans

August 31st, 2022 at 1:57 PM
A former Florida-based advisor, Gregory Blotnick, has pleaded guilty to fraudulently obtaining at least $4.6 million in Paycheck Protection Program (PPP) loans administered by the Small Business Administration (SBA) during the pandemic. 
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SEC Charges 18 Defendants in International Scheme to Manipulate Stocks

August 30th, 2022 at 11:34 AM
The Securities and Exchange Commission (SEC) has charged eighteen individual and entity defendants for their roles in orchestrating a scheme in which numerous online retail brokerage accounts were hacked and fraudulently used to buy microcap equities in an effort to manipulate stock prices and trading volumes.
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CFP Board Suspends Three Advisors

August 29th, 2022 at 1:26 PM
The Certified Financial Planner (CFP) Board of Standards has suspended three advisors from utilizing the CFP mark after two were charged with felonies and one faces civil fraud charges filed by the Securities and Exchange Commission (SEC). 
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SEC Proposes Joint Amendments to Form PF

August 26th, 2022 at 2:00 PM
The Securities and Exchange Commission (SEC) is determining whether procced with joint amendments with the Commodity Futures Trading Commission (CFTC) to Form FP, a reporting tool utilized by the SEC to protect retails investors and oversee systemic risk.
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As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

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