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

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

November 6, 2025
Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Eric A. Dupre to pay nearly $2.2 million in damages to his former firm and two customers following allegations of theft and elder exploitation.

November 5, 2025
Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

The Financial Industry Regulatory Authority (FINRA) has suspended former Wells Fargo representative Eyan M. Townsend for one year and fined him $10,000 for using personal text messages to conduct business and attempting to obstruct an internal investigation by deleting those communications.

November 4, 2025
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.