Tr?id=566623520170033&ev=PageView&noscript=1

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
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1776963542 Law
April 23, 2026
Advisor Recruiting Surges in 2025 as Industry Movement Reaches New Highs

Advisor movement across the wealth management industry accelerated sharply in 2025, with 11,172 experienced financial advisors changing firms, according to reporting by Wealth Management citing the latest Advisor Transition Report from Diamond Consultants.

1776796402 Law
April 21, 2026
DOL Proposal on Alternative Assets in 401(k)s Faces Cautious Reception

The U.S.

1776708210 Law
April 20, 2026
FINRA Suspends Former Cape Securities CCO for Supervision Failures Tied to GWG L Bonds and Complex ETPs

The Financial Industry Regulatory Authority (FINRA) recently suspended and fined Lester Joel Hochler, the former Chief Compliance Officer of Cape Securities Inc., for failing to reasonably supervise recommendations of speculative debt securities and complex exchange-traded products to retail customers.