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Eccleston Law Blog

Morgan Stanley Fines Some Advisors $1 Million Over Messaging Lapses

February 8th, 2023 at 1:52 PM
Morgan Stanley has fined some of its own financial advisors more than $1 million each for communicating with clients on WhatsApp and other messaging platforms. 
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SEC Charges Pennsylvania Investment Advisor With Operating Fraudulent Scheme

February 7th, 2023 at 1:48 PM
The Securities and Exchange Commission (SEC) has charged a former investment advisor, Joshua Coleman, with allegedly operating a fraudulent scheme that generated nearly $200 million in ill-gained proceeds. 
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Morgan Stanley Expected To Soon Resolve Due Diligence Backlog

February 6th, 2023 at 12:44 PM
Morgan Stanley is expected to resolve an issue pertaining to financial advisors whose client accounts have been recently entangled in a due diligence backlog. 
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SEC Charges Wisconsin Financial Advisor For Allegedly Defrauding Senior Investors

February 3rd, 2023 at 2:00 PM
The Securities and Exchange Commission (SEC) has charged a Wisconsin-based financial advisor, Anthony Liddle, with misappropriating $1.9 million from at least 13 investors.
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Clients Increase Their Demands to Cash Out of REITs Amidst Potential Recession

February 2nd, 2023 at 1:50 PM
Investors collectively have rushed to cash out of some non-traded real estate investment trusts (REITs) during the fourth quarter, which has boosted the demand to redeem shares of net asset value REITs by $1 billion, according to investment bank Robert A. Stanger & Co. 
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Crypto Lender Genesis Files For Bankruptcy

February 1st, 2023 at 12:56 PM
Cryptocurrency lender Genesis Global LLC has filed for bankruptcy as the crypto crisis spreads following FTX’s recent meltdown. 
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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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