Eccleston Law Blog

FINRA and SEC Officials Reveal Common Pitfalls in Reg BI Exam Sweeps

May 31st, 2022 at 8:50 AM
Regulators have announced their intention to increase the frequency of examinations as they continue to discover spotty compliance even after Regulation Best Interest (“Reg. BI”) became effective two years ago.    
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Large GPB Fund Posts Revenue and Income Growth

May 26th, 2022 at 10:42 AM
After considerable delay, GPB Capital Holdings finally has released financial statements to its investors regarding one of its largest funds.    
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Allianz Pleads Guilty to Fraud and Agrees to Pay $5.8 Billion

May 25th, 2022 at 10:41 AM
A unit of Allianz SE has agreed to plead guilty to securities fraud and pay $5.8 billion in fines and restitution following the collapse of a relatively low-risk pool of investment funds amidst pandemic volatility.    
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Edward Jones Files Motion to Dismiss $15 Million Book of Business Lawsuit

May 24th, 2022 at 12:13 PM
A former Edward Jones advisor has filed suit against Edward Jones over a $15 million book of business.    
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FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

May 23rd, 2022 at 3:09 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Morgan Stanley advisor for allegedly misleading investors regarding a private placement sold by the firm.        
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SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client

May 23rd, 2022 at 8:33 AM
The Securities and Exchange Commission has barred an advisor who allegedly misappropriated nearly $305,000 from an elderly client and additionally overcharged the client at least $9,000 in advisory fees.    
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UBS Advisor Joins U.S. Capital After Contentious Compliance Review

May 19th, 2022 at 1:48 PM
A UBS Wealth Management advisor who generated $3 million in annual revenue has joined U.S. Capital Wealth Advisors, which is a regional Texas-based firm run by a former UBS manager.    
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Some Advisors Chose Inopportune Time To Boost Bet On GWG Bonds

May 18th, 2022 at 2:31 PM
Financial advisors who chose to double down on GWG are having second thoughts.    
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Focus Financial Board Member Sues J.P. Morgan Over $7 Million In Pandemic Losses

May 17th, 2022 at 1:57 PM
A California dermatologist, who also is a Focus Financial Partners board member, has filed a $7 million arbitration claim against J.P. Morgan over pandemic-related losses in a managed account.    
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UBS Alleges Former Texas Advisor Stole $17 Million From Clients

May 17th, 2022 at 8:46 AM
UBS Wealth Management alleges that one of its former Texas-based advisors stole nearly $17 million from clients as part of a scheme that ran almost 25 years.    
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LATEST NEWS AND ARTICLES

December 22, 2025
FINRA Overhauls Arbitration Rules to Rebalance Arbitrator Selection and Codify Forum Practices

The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.

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.

December 18, 2025
UBS Warns of Rising Default Risk in Private Credit

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