SEC Obtains Final Judgement Against Cetera Advisors Over Fraud

Posted on November 4th, 2022 at 1:40 PM
SEC Obtains Final Judgement Against Cetera Advisors Over Fraud

From the Desk of Jim Eccleston at Eccleston Law.

The Securities and Exchange Commission (SEC) has obtained a final judgement against Cetera Advisors and Cetera Advisor Networks.

The SEC previously charged Cetera’s entities with defrauding their clients by failing to disclose several sources of compensation. According to the SEC’s complaint, which was filed in the United States District Court for the District of Colorado, Cetera breached their fiduciary duty to clients by failing to disclose conflicts of interest tied to Cetera’s receipt of compensation, including 12b-1 fees, revenue sharing, and mark-ups.

Cetera Advisors and Cetera Advisor Networks have each been ordered to pay disgorgement of $5,614,509 and a civil penalty of $1 million, according to the order.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next

I am grateful to have found an outstanding law firm that specializes in securities matters. My lawyers were extremely knowledgeable, diligent, and are skilled litigators. No stone was left upturned. As a result of their experience and tenacity, the arbitration proceeding was dismissed in my favor.

Michael E.

LATEST NEWS AND ARTICLES

October 7, 2025
Tricolor Bankruptcy Sparks DOJ Probe and Distress in Subprime Auto Loan Market

Tricolor Holdings, a subprime auto lender that combined used-car sales with high-interest financing for borrowers with limited or no credit history, has collapsed into bankruptcy amid a federal investigation into alleged fraud.

October 6, 2025
Judge Allows Widow's $8 Million FINRA Arbitration Claim Against JPMorgan to Proceed

JPMorgan Chase & Co. failed in its effort to block an 85-year-old widow from pursuing claims in FINRA arbitration over allegations that the bank failed to prevent her son from siphoning more than $8 million from her accounts.

October 3, 2025
SEC Charges Pennsylvania Man in $400 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has charged Daryl F. Heller of Pennsylvania, along with his companies Prestige Investment Group, LLC, and Paramount Management Group, LLC, for operating a Ponzi scheme that caused investor losses of roughly $400 million.