Eccleston Law Blog

FINRA Arbitration Claims Decline

May 13th, 2022 at 12:20 PM
Fewer investors have been filing arbitration claims to recover their investment losses. However, industry experts anticipate that the case count may climb, if not skyrocket, later this year due to recent market volatility.    
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Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

May 12th, 2022 at 1:15 PM
A federal jury has convicted a Sarasota-based advisor, Michael DaCorta, for conducting an $80 million Ponzi scheme.      
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FINRA Reintroduces Expungement Proposal After Substantial Pushback

May 11th, 2022 at 1:29 PM
After the Financial Industry Regulatory Authority (FINRA) withdrew a broker expungement proposal, the regulator has reversed course and now is recommending a “two-track approach”, which approach will include the Securities and Exchange Commission’s processes to adopt the rule.      
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FINRA Expected to Address Retail Investor Exposure to Complex ETFs

May 10th, 2022 at 1:21 PM
The Financial Industry Regulatory Authority (FINRA) recently requested comments on whether stricter measures ought to be implemented to curb retail investor access to complex ETFs.    
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Morgan Stanley Seeks to Stop Two Departing Advisors from Transferring Inherited Accounts

May 9th, 2022 at 2:59 PM
Morgan Stanley is seeking a temporary restraining order (TRO) in an effort to block two of its former New-Jersey based advisors from soliciting clients whom they inherited via the firm’s Former Advisor Program (FAP).    
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SEC Doubles Size of Crypto Assets and Cyber Enforcement Unit

May 6th, 2022 at 1:10 PM
The Securities and Exchange Commission (SEC) has added 20 new positions to the enforcement unit responsible for protecting investors in crypto markets and from cyber-related threats.     
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Amateur Investors Took a Billion-Dollar Loss Trading Options Amidst Covid-19

May 5th, 2022 at 2:19 PM
Amateur day traders lost nearly $1 billion during Covid-19, which climbs to $5 billion when including the costs of trading with market-makers, according to research from economists at the London Business School.    
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FINRA Cracks Down On UBS and Berthel Fisher

May 4th, 2022 at 1:35 PM
The Financial Industry Regulatory Authority (FINRA) has issued a $350,000 fine to UBS for failing to report trades in TRACE-eligible securities.    
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GWG Blames SEC Investigation Of Sales Practices For Its Collapse

May 3rd, 2022 at 1:39 PM
In its Chapter 11 bankruptcy filings, GWG has criticized the Securities and Exchange Commission’s (SEC’s) investigation of broker-dealers that sold at least $1.6 billion of its life-settlement backed bonds as a major reason for the firm’s collapse, including GWG’s defaulting on $13.6 million in payments to bondholders.    
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FINRA Bars Former Ameriprise Advisor Who “Falsified” Client Event Expenses

May 2nd, 2022 at 2:36 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former Ameriprise advisor who allegedly falsified $25,000 in reimbursement requests submitted to the firm for client events that she sponsored through wholesaler contributions.      
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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.