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Eccleston Law Blog

SEC Charges Florida Man and French National with $40 Million Securities Fraud

October 24th, 2022 at 12:58 PM
The Securities and Exchange Commission (SEC) has charged a Florida-based real estate agent, Fernando Bastos, and a resident of France, Joao Fonseca, as well as four entities they owned for orchestrating an investment fraud.
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SEC Advised To Alter Plan Addressing Onerous RIA Arbitration Clauses and Other Senior Protection Issues

October 21st, 2022 at 1:21 PM
The Securities and Exchange Commission (SEC) has been urged by several organizations to address investment advisory firms’ use of mandatory arbitration to settle client disputes as well as threats to older investors in its regulatory agenda for the next four years.
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SEC Charges California Advisory Firm with Operating a Ponzi-Style Scheme

October 20th, 2022 at 12:49 PM
The Securities and Exchange Commission (SEC) has charged JMJ Capital Group and its president, Richard Ramirez, with fraudulently raising millions of dollars from California-based investors. 
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SEC Charges Former Chicago LPL Advisor For Stealing $1.3 Million From Elderly Client

October 19th, 2022 at 3:09 PM
The Securities and Exchange Commission (SEC) has charged a former LPL financial advisor for stealing nearly $1.3 million from an elderly client, who suffers from dementia, and utilizing the funds to cover personal and business expenses. 
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FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap

October 18th, 2022 at 2:19 PM
The Financial Industry Regulatory Authority (FINRA) has updated its sanction guidelines used to determine the level of fines or penalties to impose on firms and their financial advisors. 
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SEC Charges 16 Financial Advisory Firms Over Recordkeeping Failures

October 17th, 2022 at 1:20 PM
The Securities and Exchange Commission (SEC) has charged 16 financial advisory firms over widespread failures by the firms and their employees to preserve electronic communications. 
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FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trading and Texting

October 14th, 2022 at 1:05 PM
The Financial Industry Regulatory Authority (FINRA) has issued a two-month suspension and a $10,000 fine to a former Morgan Stanley advisor to settle claims pertaining to unauthorized trading and improper use of a personal phone to text clients. 
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SEC Charges Real Estate Developer with Fraud

October 13th, 2022 at 12:57 PM
The Securities and Exchange Commission (SEC) has charged a Texas-based real estate developer and two other individuals for operating a fraudulent real estate investment offering that generated at least $26 million from nearly 100 investors. 
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SEC Bars Merrill Manager For Defrauding Client

October 12th, 2022 at 3:46 PM
The Securities and Exchange Commission (SEC) has barred an Annapolis, Maryland-based Merrill Lynch managed for defrauding a client from 2016 to 2020. 
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SEC Fines Raymond James $500,000 Over Supervisory Failures

October 11th, 2022 at 2:04 PM
The Securities and Exchange Commission (SEC) has imposed a $500,000 fine on Raymond James over its alleged supervisory failures related to a former Tennessee-based advisor. 
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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

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