# Eccleston Law

> With offices in Chicago, NYC, and Scottsdale the experienced attorneys of Eccleston Law represent advisors and investors nationwide.

## Main

- [Attorneys for the Financial Services Industry](https://www.ecclestonlaw.com/): With offices in Chicago, NYC, and Scottsdale the experienced attorneys of Eccleston Law represent advisors and investors nationwide.
- [Attorneys for Advisors & Investors](https://www.ecclestonlaw.com/attorneys-for-financial-advisor-and-investor): Eccleston Law represents financial advisors and investors nationwide in employment and securities cases with combined experience of nearly 65 years.
- [Contact Financial & Investor Attorneys](https://www.ecclestonlaw.com/contact-us): Contact the attorneys of Eccleston Law Firm by submitting the form below, calling us at one of our locations or by sending an email anytime.
- [Securities Attorneys for Investment Fraud](https://www.ecclestonlaw.com/securities-attorneys-for-investment-fraud-matters): The securities attorneys at Eccleston Law represent investors for a variety of different securities and investment fraud matters in the United States.
- [Breach of Fiduciary Duty](https://www.ecclestonlaw.com/securities-attorneys-for-breach-of-fiduciary-duty): The securities attorneys at Eccleston Law represent financial investors for a variety of matters involving the breach of fiduciary duty.
- [Broker Litigation and Arbitration](https://www.ecclestonlaw.com/securities-attorneys-for-broker-litigation-and-arbitration): The securities attorneys at Eccleston Law provide top quality broker litigation and arbitration legal services before state securities regulators.
- [Employment Attorneys for Financial Advisors](https://www.ecclestonlaw.com/employment-attorneys-for-financial-advisors): The employment attorneys at Eccleston Law can assist financial advisors with legal employment matters including U-5 defamation, termination, & more.
- [Securities Attorneys for Regulatory Matters](https://www.ecclestonlaw.com/securities-attorneys-for-regulatory-matters): The securities attorneys at Eccleston Law defend financial advisors against inquiries, investigations, and disciplinary actions made by regulators.
- [Retirement Planning Negligence](https://www.ecclestonlaw.com/securities-attorneys-for-retirement-planning-negligence): The securities attorneys at Eccleston Law represent financial investors for a variety of retirement planning negligence matters nationwide.
- [Strategic Consulting Services](https://www.ecclestonlaw.com/securities-attorneys-for-strategic-consulting): The securities attorneys at Eccleston Law offer strategic consulting and counseling services for financial advisors such as breakaway brokers.
- [Securities Attorneys](https://www.ecclestonlaw.com/securities-attorneys-for-unauthorized-trading): The securities attorneys at Eccleston Law have represented investors in a variety of different unauthorized trading matters in the United States.
- [Securities Attorneys for Financial Advisors](https://www.ecclestonlaw.com/securities-attorneys-for-financial-advisors): The securities attorneys at Eccleston Law counsel, represent and defend financial advisors nationwide and offer many financial advisor legal services.
- [Testimonials](https://www.ecclestonlaw.com/testimonials): View the testimonials from satisfied people who have worked wtih the experienced attorneys at Eccleston Law.
- [Tagged](https://www.ecclestonlaw.com/tags): Eccleston Law Office represents advisors & investors in securities & employment matters in Boca Raton, Chicago, & New York and has a proven success rate.
- [Securities Attorneys for Investors](https://www.ecclestonlaw.com/securities-attorneys-for-investors): The securities attorneys at Eccleston Law represent financial investors nationwide and offers a variety of financial investor legal services.
- [Securities Attorneys for Broker Transition](https://www.ecclestonlaw.com/securities-attorneys-for-broker-transition): The experienced securities attorneys at Eccleston Law offer legal guidance for broker-dealer and financial broker employment transition.
- [Securities Attorneys for Whistleblower Law](https://www.ecclestonlaw.com/whistleblower-law-practice): The securities attorneys at Eccleston Law represent financial advisors who seek assistance in filing whistleblower actions.
- [Securities Attorneys for FINRA Matters](https://www.ecclestonlaw.com/securities-attorneys-for-finra-matters): The securities attorneys at Eccleston Law can help financial advisors with FINRA matters involving FINRA inquiries, FINRA Rul 8210, AWC, OTR, & more.
- [Employment Attorneys for Contract Review](https://www.ecclestonlaw.com/employment-attorneys-for-broker-transition-contract-review): The employment attorneys at Eccleston Law can help you with the protocol for broker recruiting and review your broker transition contract.
- [Securities Attorneys for CFP Board Matters](https://www.ecclestonlaw.com/securities-attorneys-for-cfp-board-matters): The securities attorneys at Eccleston Law can help with CFP Board disciplinary action matters such as CFP complaints, inquiries, & more.
- [Newsletter Signup](https://www.ecclestonlaw.com/newsletter-signup): Sign up for the Eccleston Law newsletter to stay up to date with the latest news and updates.
- [Investor Attorney Chicago, Scottsdale & New York](https://www.ecclestonlaw.com/locations): Eccleston Law has offices in Chicago, Illinois, New York, New York,and Scottsdale, Arizona, representing advisers & investors nationwide.
- [Disclaimers](https://www.ecclestonlaw.com/disclaimers): Disclaimers from Eccleston Law Offices.
- [Compliance Protection for Investment Advisers](https://www.ecclestonlaw.com/compliance-protection): Eccleston Law LLC is pleased to announce new compliance protection services for investment advisers with top-tier advisory practices.
- [Securities Attorneys for Expungement of CRD](https://www.ecclestonlaw.com/securities-attorneys-for-expungement-of-crd-brokercheck-disclosures): The securities attorneys at Eccleston Law assist brokers and investment advisor representatives nationwide with expungement of customer complaints and crimin...
- [Team or Partnership Disputes](https://www.ecclestonlaw.com/team-partnership-disputes): Teams have disputes. Some disputes can be resolved easily. Others need a third party involved to help. At Eccleston Law we are that third party.
- [FAQs](https://www.ecclestonlaw.com/faqs): FAQs: Recovering Your Investment Losses Due to Recent Market Declines in the Wake of the Coronavirus.
- [Attorneys for Advisors & Investors](https://www.ecclestonlaw.com/attorneys-for-financial-advisor-and-investor-new): Eccleston Law represents financial advisors and investors nationwide in employment and securities cases with combined experience of nearly 65 years.
- [Eccleston Law](https://www.ecclestonlaw.com/securities-attorneys-for-cfa-and-cima-matters): The securities attorneys at Eccleston Law represent advisors and analysts in investigations, complaints, and other disciplinary actions initiated by the CFA...
- [Lawyer Referral Due Diligence Services](https://www.ecclestonlaw.com/lawyer-referral-due-diligence-services): Our nationwide Lawyer Referral Due Diligence Services helps connect financial advising clients with attorneys perfectly suited for their case.
- [Scottsdale Securities Attorney](https://www.ecclestonlaw.com/arizona-securities-attorney): We have extensive experience in litigation, particularly in securities and investment-related legal disputes.
- [Current Investigations from Eccleston Law](https://www.ecclestonlaw.com/eccleston-law-current-investigations): Eccleston Law has earned the highest awards & distinctions by both clients & peers, keeping the website up-to-date w/ all firm news.

## Videos

- [Video Gallery](https://www.ecclestonlaw.com/videos): View the video gallery of Eccleston Law featuring Jim Eccleston himself.
- [Eccleston Law: Welcome to our Chicago Securities Law Firm](https://www.ecclestonlaw.com/videos/2-eccleston-law-welcome-to-our-chicago-securities-law-firm): Jim Eccleston is Lead Attorney for Eccleston Law, a nationwide securities and financial law firm with offices in Chicago, New York City and Sarasota, Flori...
- [Eccleston Law: Jim Eccleston Talks About Representing Investors Nationwide in Law Suits](https://www.ecclestonlaw.com/videos/5-eccleston-law-jim-eccleston-talks-about-representing-investors-nationwide-in-law-suits): Jim Eccleston is Lead Attorney for Eccleston Law, a nationwide securities and financial law firm with offices in Chicago, New York City and Sarasota, Flori...
- [Eccleston Law: Who We Represent in our Chicago, NYC Florida Securities Law Firm](https://www.ecclestonlaw.com/videos/7-eccleston-law-who-we-represent-in-our-chicago-nyc-florida-securities-law-firm): Jim Eccleston is Lead Attorney for Eccleston Law, a nationwide securities and financial law firm with offices in Chicago, New York City and Florida. Jim, a...
- [Eccleston Law: James Eccleston on Correcting FINRA BrokerCheck Reports](https://www.ecclestonlaw.com/videos/8-eccleston-law-james-eccleston-on-correcting-finra-brokercheck-reports): It's an easy process and a great first step for financial advisers to correct or update U-4 and U-5 information available through BrokerCheck. Jim Eccle...
- [Eccleston Law: James Eccleston Warns Reps to Beware of Letter to Clients](https://www.ecclestonlaw.com/videos/9-eccleston-law-james-eccleston-warns-reps-to-beware-of-letter-to-clients): Eccleston Law Offices Uncovers Troublesome Letter Sent to Clients of Transitioning UBS Financial Adviser Jim Eccleston is Lead Attorney for Eccleston La...
- [Eccleston Law: James Eccleston Announces New Transition Compliance Package for Financial Advisers](https://www.ecclestonlaw.com/videos/10-eccleston-law-james-eccleston-announces-new-transition-compliance-package-for-financial-advisers): Eccleston Law pleased to announce new fixed fee Transition Compliance Package for financial advisers. Jim Eccleston is Lead Attorney for Eccleston Law, ...
- [Eccleston Law: James Eccleston Announces New Broker Compliance Package by Eccleston Law LLC](https://www.ecclestonlaw.com/videos/11-eccleston-law-james-eccleston-announces-new-broker-compliance-package-by-eccleston-law-llc): Jim Eccleston is Lead Attorney for Eccleston Law, a nationwide securities and financial law firm with offices in Chicago, New York City and Sarasota, Flori...
- [Eccleston Law: James Eccleston on Broker Recruiting Protocol](https://www.ecclestonlaw.com/videos/12-eccleston-law-james-eccleston-on-broker-recruiting-protocol): James Eccleston is Lead Attorney for Eccleston Law, a nationwide securities and financial law firm with offices in Chicago, New York City and Sarasota, Flo...
- [Eccleston Law, LLC: James Eccleston on Broker Product Cases](https://www.ecclestonlaw.com/videos/14-eccleston-law-llc-james-eccleston-on-broker-product-cases): James Eccleston, Eccleston Law, LLC discusses product-related sales violation cases, such as UBS/Puerto Rican Bonds. James Eccleston is Lead Attorney for E...

## Employment and Security Attorneys

- [Meet the Attorneys at Eccleston Law](https://www.ecclestonlaw.com/employment-and-security-attorneys): The employment and securities attorneys at Eccleston Law represent financial advisors and investors in securities & employment matters nationwide.
- [James J. Eccleston](https://www.ecclestonlaw.com/employment-and-security-attorneys/james-j-eccleston): Jim Eccleston is the chief strategist and lead attorney for all clients of Eccleston Law. His 28-year legal career has earned him the highest awards and di...
- [Stephany D. McLaughlin](https://www.ecclestonlaw.com/employment-and-security-attorneys/stephany-d-mclaughlin): After earning a degree in Finance from Loyola University Chicago, Ms. McLaughlin worked in various capacities within the financial services industry at fir...
- [Richard Ehrlich](https://www.ecclestonlaw.com/employment-and-security-attorneys/richard-ehrlich): Mr. Richard Ehrlich is a specialist in Estate Planning, Financial Planning, Probate, Elder Law, and Corporate. In the course of his career, he has prepared...
- [Mark Roth](https://www.ecclestonlaw.com/employment-and-security-attorneys/mark-roth): Mark Roth has been litigating, and taking cases to trial for 34 years. He is rated AV Preeminent* by Martindale-Hubbell, demonstrating the highest degree o...
- [Chad Ostrosky](https://www.ecclestonlaw.com/employment-and-security-attorneys/chad-ostrosky): Mr. Ostrosky began representing individuals in securities arbitration while still in law school at the University of Pittsburgh School of Law Securities Ar...
- [Tony Bingham](https://www.ecclestonlaw.com/employment-and-security-attorneys/tony-bingham): Tony earned his law degree from Gonzaga University School of Law and has practiced law in Arizona for over 30 years. He began his legal career with the Mar...
- [Maddy Hyland-Sheets](https://www.ecclestonlaw.com/employment-and-security-attorneys/maddy-hyland-sheets): Eccleston Law Office represents advisors & investors in securities & employment matters in Boca Raton, Chicago, & New York and has a proven success rate.

## Optional

- [Eccleston Law Blog by Jim Eccleston](https://www.ecclestonlaw.com/eccleston-law-blog): The following articles were written by the Eccleston Law Firm and are featured on FinancialCounsel.com
- [Notable 2021 Ponzi Schemes](https://www.ecclestonlaw.com/eccleston-law-blog/notable-2021-ponzi-schemes): While 2021 was anything but an ordinary year, numerous advisors were indicted for conducting Ponzi schemes similar to previous years.
- [FINRA Fines Two Firms Over Mutual Fund Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-two-firms-over-mutual-fund-sales): The Financial Industry Regulatory Authority (FINRA) has fined Emerson Equity $1.7 million, citing several years of faulty supervision of short-term mutual ...
- [New FINRA Rule Reining In Rogue Brokerages Becomes Effective](https://www.ecclestonlaw.com/eccleston-law-blog/new-finra-rule-reining-in-rogue-brokerages-becomes-effective): The Financial Industry Regulatory Authority (FINRA) adopted a new rule in 2020 that is designed to rein in rogue brokerage firms.
- [Boston Man Agrees To SEC Settlement After Guilty Plea](https://www.ecclestonlaw.com/eccleston-law-blog/boston-man-agrees-to-sec-settlement-after-guilty-plea): A Boston man accused of defrauding investors has agreed to a settlement with the Securities and Exchange Commission (SEC) after pleading guilty in a parall...
- [Wells Fargo Divisional Head Vanderveen Steps Down](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-divisional-head-vanderveen-steps-down): One of eight regional directors monitoring Wells Fargo Advisors’ private client group departed the firm last week after a leave of absence that laste...
- [Number Of Nasdaq Stocks Down 50% Or More Approaches Record](https://www.ecclestonlaw.com/eccleston-law-blog/number-of-nasdaq-stocks-down-50-or-more-approaches-record): An increasing number of Nasdaq stocks have plummeted by around 50% in an echo of the dot-com crash.
- [Experts Anticipate Reg BI Enforcement Actions, DOL Rollover Crackdown In 2022](https://www.ecclestonlaw.com/eccleston-law-blog/experts-anticipate-reg-bi-enforcement-actions-dol-rollover-crackdown-in-2022): The Securities and Exchange Commission (SEC) may actively levy enforcement actions pertaining to Regulation Best Interest (Reg BI) while the Department of ...
- [Wisconsin Advisor Barred After Allegations of Material Misrepresentations](https://www.ecclestonlaw.com/eccleston-law-blog/wisconsin-advisor-barred-after-allegations-of-material-misrepresentations): The Securities and Exchange Commission (SEC) has barred an Appleton, Wisconsin-based advisor, Michael Shillin.
- [Kamila Elliot Prepared To Make History As First Black CFP Board Chair](https://www.ecclestonlaw.com/eccleston-law-blog/kamila-elliot-prepared-to-make-history-as-first-black-cfp-board-chair): The first Black woman to head the CFP Board, Kamila Elliot, officially assumed her position from former CFP Board Chair Douglas King on January 1.
- [Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/ohio-advisor-pleads-guilty-in-93-million-ponzi-scheme): A former Northeast Ohio-based advisor, Tara Brunst, has pleaded guilty to her role in a $9.3 million Ponzi scheme.
- [J.P. Morgan Seeks TRO Over Departing Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-seeks-tro-over-departing-advisor): J.P. Morgan Chase’s brokerage business has requested that a Louisville, Kentucky, federal court issue a temporary restraining order (TRO) barring one...
- [New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/new-york-advisor-receives-17year-prison-sentence-over-ponzi-scheme): A New York-based advisor, Perry Santillo, received a 17-year prison sentence for his role in operating a Ponzi scheme that generated at least $115 million ...
- [SEC Charges Texas Entities Over Oil and Gas Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-texas-entities-over-oil-and-gas-fraud): The Securities and Exchange Commission (SEC) has charged The Heartland Group Ventures, Heartland Production and Recovery, six other Heartland-affiliated en...
- [Edward Jones Fails To Convince Supreme Court To Review Federal Preemption of Account Fee Suit](https://www.ecclestonlaw.com/eccleston-law-blog/edward-jones-fails-to-convince-supreme-court-to-review-federal-preemption-of-account-fee-suit): Edward Jones & Co. failed to convince the U.S. Supreme Court to analyze how a federal securities law impacts a client dispute pertaining to fee-based a...
- [CFP Board Establishes New Appeals Commission](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-establishes-new-appeals-commission): The Certified Financial Planner (CFP) Board of Standards has established a new Appeals Commission. As the name suggests, the Appeals Commission possesses t...
- [FINRA Set To Issue Crypto Notice And Consider Expungement Reform](https://www.ecclestonlaw.com/eccleston-law-blog/finra-set-to-issue-crypto-notice-and-consider-expungement-reform): The Financial Industry Regulatory Authority (FINRA) is set to issue a regulatory notice pertaining to cryptocurrency as well as expungement reform.
- [Top FINRA Initiatives For 2022](https://www.ecclestonlaw.com/eccleston-law-blog/top-finra-initiatives-for-2022): A host of new initiatives are ahead in 2022 at the Financial Industry Regulatory Authority (FINRA), according to CEO Robert Cook.
- [Hightower Sues Two Advisors For Allegedly Poaching Clients](https://www.ecclestonlaw.com/eccleston-law-blog/hightower-sues-two-advisors-for-allegedly-poaching-clients): Hightower Advisors has filed suit against two advisors for allegedly soliciting their clients to join them at their new firms.
- [Massachusetts Regulators Say Fidelity Rubber-Stamped Options Applications](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-regulators-say-fidelity-rubberstamped-options-applications): Massachusetts securities regulators have filed suit against Fidelity Brokerage Services alleging unethical practices relating to the firms’ rubber-st...
- [SEC Charges Former UBS Advisor For Alleged Misappropriation](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-ubs-advisor-for-alleged-misappropriation): The Securities and Exchange Commission (SEC) has charged a former UBS advisor, German Nino, for allegedly misappropriating $5.8 million of client funds.
- [Former Edward Jones Advisor Suspended For Illegally Borrowing $150K From Client](https://www.ecclestonlaw.com/eccleston-law-blog/former-edward-jones-advisor-suspended-for-illegally-borrowing-150k-from-client): The Financial Industry Regulatory Authority (FINRA) has suspended a former Edward Jones advisor who allegedly borrowed $150,000 from a client to cover debt...
- [Supreme Court Rules On Landmark 401(K) Fee Suit](https://www.ecclestonlaw.com/eccleston-law-blog/supreme-court-rules-on-landmark-401k-fee-suit): The U.S. Supreme Court has reversed an appellate court’s decision involving Northwestern University, which may impact numerous other pending lawsuits...
- [Advisors Face Scrutiny After Selling $2 Billion In GWG Junk Bonds](https://www.ecclestonlaw.com/eccleston-law-blog/advisors-face-scrutiny-after-selling-2-billion-in-gwg-junk-bonds): An alternative asset manager that had issued a collection of high-yield bonds known as L Bonds, GWG Holdings Inc., has struggled to cover its interest paym...
- [FINRA Bars Former Bank of America Advisor For Allegedly Misappropriating Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-bank-of-america-advisor-for-allegedly-misappropriating-client-funds): The Financial Industry Regulatory Authority (FINRA) has barred a former Bank of America advisor after he allegedly forged a client’s signature and mi...
- [Stephens Wins $18.2 Million In Raiding Claim Against Ben Edwards](https://www.ecclestonlaw.com/eccleston-law-blog/stephens-wins-182-million-in-raiding-claim-against-ben-edwards): Stephens, Inc. has won nearly $18.2 million in an arbitration claim against Benjamin Edwards & Company over the raiding of an Arkansas branch.
- [Former Morgan Stanley Advisor Settles FINRA Charge Over Inherited Account Coding](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-settles-finra-charge-over-inherited-account-coding): The Financial Industry Regulatory Authority (FINRA) has issued a 10-day suspension and a $2,500 fine against another former Morgan Stanley advisor over an ...
- [Judge Vacates Arbitration Award, Condemning Wells Fargo, Attorney and FINRA](https://www.ecclestonlaw.com/eccleston-law-blog/judge-vacates-arbitration-award-condemning-wells-fargo-attorney-and-finra): A Georgia Superior Court judge has vacated an arbitration award that Wells Fargo had obtained nearly 3 years ago involving a client who sued the firm for m...
- [SEC to Advocate For More Transparent Fee Disclosures from Private Equity Firms](https://www.ecclestonlaw.com/eccleston-law-blog/sec-to-advocate-for-more-transparent-fee-disclosures-from-private-equity-firms): The Securities and Exchange Commission (SEC) plans to consider and potentially implement rules requiring more expansive disclosures surrounding fee...
- [J.P. Morgan Settles With Cresset Over ‘Raid’ Of Private Bankers](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-settles-with-cresset-over-raid-of-private-bankers): J.P. Morgan settled a lawsuit with Chicago-based advisory firm Cresset Asset Management pertaining to its alleged raid of at least 10 J.P. Morgan private b...
- [Former LPL Advisor Charged With Fraud Faces 37-Year Prison Sentence](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-advisor-charged-with-fraud-faces-37year-prison-sentence): An ex-LPL Financial advisor has been indicted for allegedly defrauding at least 15 former clients after the Financial Industry Regulatory Authority (FINRA)...
- [FINRA Bars Former Morgan Stanley Advisor Facing Millions in Claims from Pro Athletes](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-morgan-stanley-advisor-facing-millions-in-claims-from-pro-athletes): A former Morgan Stanley advisor has been barred by the Financial Industry Regulatory Authority (FINRA) after receiving numerous complaints from his former ...
- [Smoothie-Throwing Advisor Suspended By CFP Board](https://www.ecclestonlaw.com/eccleston-law-blog/smoothiethrowing-advisor-suspended-by-cfp-board): A former Merrill Lynch advisor has been suspended by the CFP Board after he was arrested for threatening employees and using racial slurs at a smoothie sho...
- [SEC Obtains Final Judgement Against Indianapolis-Based Advisor Over Allegations Of Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-obtains-final-judgement-against-indianapolisbased-advisor-over-allegations-of-fraud): The U.S. District Court for the Southern District of Indiana has entered a final consent judgment against an Indianapolis-based advisor, George Blankenbake...
- [SEC Releases Statement On Private Fund Advisors Proposal](https://www.ecclestonlaw.com/eccleston-law-blog/sec-releases-statement-on-private-fund-advisors-proposal): The Securities and Exchange Commission (SEC) is proposing to amend the Investment Advisors Act to improve the efficiency, competition, and transparency of ...
- [FINRA Suspends Former Raymond James Advisor Over UIT Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-raymond-james-advisor-over-uit-sales): The Financial Industry Regulatory Authority (FINRA) has suspended a former Raymond James advisor for three months and imposed a $5,000 fine over unsuitable...
- [FINRA Criticized Over Alleged Rigging Of Arbitration Matters Involving Wells Fargo](https://www.ecclestonlaw.com/eccleston-law-blog/finra-criticized-over-alleged-rigging-of-arbitration-matters-involving-wells-fargo): Senate and House lawmakers have criticized the Financial Industry Regulatory Authority (FINRA) Dispute Resolution over the fairness of its arbitration syst...
- [J.P. Morgan Ordered To Pay $1.4 Million To Advisor In Defamation Case](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-ordered-to-pay-14-million-to-advisor-in-defamation-case): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered J.P. Morgan to pay $1.4 million to a former advisor who alleged defamation ...
- [SEC To Investigate Morgan Stanley and Goldman Sachs Over Block-Trading Practices](https://www.ecclestonlaw.com/eccleston-law-blog/sec-to-investigate-morgan-stanley-and-goldman-sachs-over-blocktrading-practices): The Securities and Exchange Commission (SEC) has subpoenaed Morgan Stanley, Goldman Sachs, and several hedge funds in order to investigate the business of ...
- [FINRA Sanctions Ecoban Securities Over Inadequate Supervision Procedures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-ecoban-securities-over-inadequate-supervision-procedures): The Financial Industry Regulatory Authority (FINRA) has sanctioned Ecoban Securities Corp. and imposed a $40,000 fine after the firm allegedly violated rul...
- [FINRA Hires Law Firm To Independently Investigate Arbitrator Selection Process](https://www.ecclestonlaw.com/eccleston-law-blog/finra-hires-law-firm-to-independently-investigate-arbitrator-selection-process): The Financial Industry Regulatory Authority (FINRA) has hired outside legal counsel to independently investigate whether FINRA’s Dispute Resolution S...
- [SEC Charges Infinity Q Founder Over Valuation Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-infinity-q-founder-over-valuation-fraud): The Securities and Exchange Commission (SEC) has charged former Chief Investment Officer and founder of Infinity Q Capital, James Velissaris, for allegedly...
- [Allianz Terminates Two Portfolio Managers After Investment Fund Collapses](https://www.ecclestonlaw.com/eccleston-law-blog/allianz-terminates-two-portfolio-managers-after-investment-fund-collapses): Allianz has fired two portfolio managers who monitored a group of investment funds that failed after generating massive losses at the outset of the pandemi...
- [Wells Fargo Announces That Labor Department Is Investigating Its 401(k) Plan](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-announces-that-labor-department-is-investigating-its-401k-plan): The U.S. Department of Labor (DOL) and other federal agencies are probing Wells Fargo & Co.’s 401(k) plan, according to the firm’s most rec...
- [UBS Triggers Margin Calls After Russia Bond Values Plummet](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-triggers-margin-calls-after-russia-bond-values-plummet): UBS Group has triggered margin calls on some of its wealth management clients who use Russian bonds as collateral for their investments after the value of ...
- [Notable February 2022 Ponzi Schemes](https://www.ecclestonlaw.com/eccleston-law-blog/notable-february-2022-ponzi-schemes): As we turn the calendar over to March, let’s recap some of the notable investment advisors who were indicted for conducting Ponzi schemes in February...
- [Wells Fargo Deemed ‘Vindictive’ In Former Advisor’s Arbitration Win](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-deemed-vindictive-in-former-advisors-arbitration-win): A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded a former Wells Fargo advisor $1.43 million in a dispute pertaining to the a...
- [Massachusetts Regulators Charge Broker-Dealer Over Unsuitable Sales of Leveraged ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-regulators-charge-brokerdealer-over-unsuitable-sales-of-leveraged-etfs): Massachusetts securities regulators have charged a broker-dealer with allegedly failing to adequately monitor advisors who sold unsuitable leveraged exchan...
- [FINRA Issues FAQ On Senior Exploitation Rules](https://www.ecclestonlaw.com/eccleston-law-blog/finra-issues-faq-on-senior-exploitation-rules): The Financial Industry Regulatory Authority (FINRA) has released a frequently asked questions (FAQ) guidance on new rules the regulator has enforced pertai...
- [SEC Charges Venture Capital Fund Advisor With Misleading Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-venture-capital-fund-advisor-with-misleading-investors): The Securities and Exchange Commission (SEC) has charged venture capital fund advisor Alumni Ventures Group (AVG) with misleading clients about its managem...
- [Recent Morgan Stanley Recruiting Video Directly Criticizes Merrill Lynch](https://www.ecclestonlaw.com/eccleston-law-blog/recent-morgan-stanley-recruiting-video-directly-criticizes-merrill-lynch): A recently-produced Morgan Stanley recruiting video that managers can use to convince potential recruits to join the firm directly criticizes its rival, Me...
- [J.P. Morgan Loses TRO Bid Against Former Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-loses-tro-bid-against-former-advisor): A New Jersey federal court has denied J.P. Morgan’s request for a temporary restraining order (TRO) against an advisor who joined Wells Fargo in Febr...
- [Hightower Alleges Former Advisor Used RIA Sale Proceeds To Open Competing Firm](https://www.ecclestonlaw.com/eccleston-law-blog/hightower-alleges-former-advisor-used-ria-sale-proceeds-to-open-competing-firm): Hightower Advisors has filed suit against a former advisor, John Gibson, alleging that he improperly solicited his former clients to join him at a competin...
- [Retiring During A Time Of Uncertainty](https://www.ecclestonlaw.com/eccleston-law-blog/retiring-during-a-time-of-uncertainty): Over the past few years, several crises such as the Russian invasion of Ukraine and Covid-19 pandemic have resulted in supply chain disruptions, heightened...
- [SEC Warns Advisors To Be “Vigilant” As Market Volatility Expands](https://www.ecclestonlaw.com/eccleston-law-blog/sec-warns-advisors-to-be-vigilant-as-market-volatility-expands): The Securities and Exchange Commission (SEC) has warned financial advisory firms and broker-dealers to be vigilant in analyzing trading risks as market vol...
- [CFP Board Releases New Ethical Guides For Financial Planners](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-releases-new-ethical-guides-for-financial-planners): The Certified Financial Planner Board of Standards (CFP Board) has recently issued three new guides to assist certified financial planners in adhering to p...
- [Robinhood Settles With Vermont Regulators Over Outages](https://www.ecclestonlaw.com/eccleston-law-blog/robinhood-settles-with-vermont-regulators-over-outages): Robinhood Markets Inc. has agreed to a $640,000 settlement with Vermont regulators over recent outages on Robinhood’s trading platform as well as ina...
- [FINRA Board Approves New Remote-Inspection Rules](https://www.ecclestonlaw.com/eccleston-law-blog/finra-board-approves-new-remoteinspection-rules): The Financial Industry Regulatory Authority (FINRA) has approved new regulatory rules that could permit financial advisory firms to continue conducting rem...
- [Galvin Questions Advisory Firms About Interest Rates and Sweep Accounts](https://www.ecclestonlaw.com/eccleston-law-blog/galvin-questions-advisory-firms-about-interest-rates-and-sweep-accounts): Massachusetts Commonwealth Secretary William Galvin is pressing six large advisory firms on whether they are failing to escalate interest rates for clients...
- [FINRA Announces New Rule To Expedite Arbitration Cases For Those Who Are Ill Or Over 75](https://www.ecclestonlaw.com/eccleston-law-blog/finra-announces-new-rule-to-expedite-arbitration-cases-for-those-who-are-ill-or-over-75): The Financial Industry Regulatory Authority (FINRA) intends to amend its rules to permit expedited arbitration cases for parties who are 75 or older or are...
- [FINRA Bars Former UBS Advisor For Failing To Cooperate In Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-ubs-advisor-for-failing-to-cooperate-in-investigation): The Financial Industry Regulatory Authority (FINRA) has barred a former Minnesota-based UBS advisor after he failed to cooperate with FINRA’s probe i...
- [FINRA’s Top Five Fine Categories for 2021](https://www.ecclestonlaw.com/eccleston-law-blog/finras-top-five-fine-categories-for-2021): The Financial Industry Regulatory Authority (FINRA) issued $91 million in fines in 2021, which constitutes a 60% increase from $57 million in 2020, accordi...
- [FINRA Settles With Two Advisory Firms Over Improper Sales Of GPB Private Placements](https://www.ecclestonlaw.com/eccleston-law-blog/finra-settles-with-two-advisory-firms-over-improper-sales-of-gpb-private-placements): The Financial Industry Regulatory Authority (FINRA) has agreed to settlements with two advisory firms over improper sales of GPB Capital Holdings private p...
- [UBS Seeks TRO Against Wells Fargo Team Who Sent Video Message to Clients](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-seeks-tro-against-wells-fargo-team-who-sent-video-message-to-clients): UBS Wealth Management is seeking a temporary restraining order (TRO) against two former advisors who recently joined Wells Fargo and allegedly sent a video...
- [FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-alpine-securities-over-allegations-over-misappropriation-and-excessive-fees): The Financial Industry Regulatory Authority (FINRA) has barred a Salt Lake City-based advisory firm, Alpine Securities, from the industry and has ordered t...
- [FINRA Settles With Geneos Over Improper GPB Sales and “Risky” Alternative Mutual Fund](https://www.ecclestonlaw.com/eccleston-law-blog/finra-settles-with-geneos-over-improper-gpb-sales-and-risky-alternative-mutual-fund): As part of a settlement, the Financial Industry Regulatory Authority (FINRA) has imposed a $150,000 fine on Geneos Wealth Management pertaining to improper...
- [Judge Splits Late UBS Manager’s Assets Between His Mother and Domestic Partner](https://www.ecclestonlaw.com/eccleston-law-blog/judge-splits-late-ubs-managers-assets-between-his-mother-and-domestic-partner): A U.S. District Court Judge has ordered the mother and domestic partner of a former UBS Wealth Management complex manager, who died in January 2019 at age ...
- [Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley](https://www.ecclestonlaw.com/eccleston-law-blog/former-citibank-advisor-agrees-to-nonsolicit-ban-after-departing-morgan-stanley): A former New York-based Citigroup advisor has agreed to a client solicitation ban after recently departing Citigroup to join Morgan Stanley. ...
- [SEC Bars Advisor Over 1 Global Capital Sales](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-advisor-over-1-global-capital-sales): The Securities and Exchange Commission (SEC) has barred an advisor as well as his firm, which sold $37 million of an investment fraud, 1 Global Capital, be...
- [FINRA Suspends Former Wells Fargo Advisor Over Dead-Man-Trading Violation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-wells-fargo-advisor-over-deadmantrading-violation): The Financial Industry Regulatory Authority (FINRA) has suspended a former Wells Fargo advisor for allegedly completing several trades on behalf of a clien...
- [Supreme Court Rules in Favor of Former Ameriprise Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/supreme-court-rules-in-favor-of-former-ameriprise-advisor): The U.S. Supreme Court has ruled in favor of a former Ameriprise Financial advisor in a landmark decision that could provide advisors with more leeway when...
- [Three Morgan Stanley Advisors Clear Records of Back-Office Mistake](https://www.ecclestonlaw.com/eccleston-law-blog/three-morgan-stanley-advisors-clear-records-of-backoffice-mistake): A Financial Industry Regulatory Authority (FINRA) arbitration panel has expunged the records of three advisors who are part of a large Morgan Stanley team....
- [Wells Fargo Agrees To $32.5 Million Settlement In 401(k) Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-agrees-to-325-million-settlement-in-401k-lawsuit): Wells Fargo has agreed to pay $32.5 million to settle a class-action lawsuit that alleged the firm violated provisions of the Employee Retirement Income Se...
- [FINRA Bars Former Cetera Advisor Who Converted Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-cetera-advisor-who-converted-client-funds): The Financial Industry Regulatory Authority (FINRA) has barred a former Cetera Financial advisor for allegedly converting $40,000 from her client accounts ...
- [FINRA Fines National Securities $663,000 Over Private Placement Offering](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-national-securities-663000-over-private-placement-offering): The Financial Industry Regulatory Authority (FINRA) has imposed a $663,000 fine on National Securities for allegedly deceiving investors about the price of...
- [SEC Charges Four Individuals Involved In Fraudulent Scheme Targeting Retirees](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-four-individuals-involved-in-fraudulent-scheme-targeting-retirees): The Securities and Exchange Commission (SEC) has charged Julie Minuskin, Dennis DiRicco, Tom Casey and Golden Genesis, Inc. with defrauding investors with ...
- [GPB Capital Announces Sale of Land in New Jersey](https://www.ecclestonlaw.com/eccleston-law-blog/gpb-capital-announces-sale-of-land-in-new-jersey): GPB Capital Holdings announced that it has sold land in New Jersey that was previously owned by one of its private placement funds.
- [FINRA Suspends Former Morgan Stanley Advisor Who Circumvented Sales Limits](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-morgan-stanley-advisor-who-circumvented-sales-limits): The Financial Industry Regulatory Authority (FINRA) has imposed a $15,000 fine and 20-month suspension on a former Morgan Stanley advisor who allegedly fal...
- [FINRA Bars Former Edward Jones Advisor Who Refused to Repay $893K](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-edward-jones-advisor-who-refused-to-repay-893k): The Financial Industry Regulatory Authority (FINRA) has barred a former Edward Jones advisor who failed to cooperate with a probe into allegations that he ...
- [GWG Holdings Announces Chapter 11 Bankruptcy](https://www.ecclestonlaw.com/eccleston-law-blog/gwg-holdings-announces-chapter-11-bankruptcy): GWG Holdings has filed for Chapter 11 bankruptcy. Its woes have included failing to submit its 2021 yearly report to the SEC in April because the firm has ...
- [Unregistered Advisors Perpetrate Scheme While Concealing Disciplinary Histories](https://www.ecclestonlaw.com/eccleston-law-blog/unregistered-advisors-perpetrate-scheme-while-concealing-disciplinary-histories): The Securities and Exchange Commission (SEC) has filed suit against two unregistered advisors for hiding their disciplinary records from investors while en...
- [SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-obtains-tro-and-asset-freeze-against-alleged-perpetrators-of-450-million-ponzi-scheme): The Securities and Exchange Commission (SEC) has charged and obtained an asset freeze against numerous Las Vegas-based individuals and entities for alleged...
- [Former UBS Advisor Pleads Guilty to Spending Client Funds on Girlfriends’ Gifts](https://www.ecclestonlaw.com/eccleston-law-blog/former-ubs-advisor-pleads-guilty-to-spending-client-funds-on-girlfriends-gifts): A former UBS advisor has pleaded guilty to misappropriating $5.8 million in client funds primarily to cover gifts for girlfriends, according to the Securit...
- [SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-former-morgan-stanley-advisor-of-conducting-a-ponzi-scheme): The Securities and Exchange Commission (SEC) has accused a former Morgan Stanley advisor of using client funds to cover personal expenses including a Tesla...
- [Arbitrators Clear Former Merrill Advisor Of Former Partner’s Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/arbitrators-clear-former-merrill-advisor-of-former-partners-misconduct): A former Kentucky-based Merrill advisor will have his record cleared of an investor complaint pertaining to the conduct of his former partner who was convi...
- [FINRA Bars Massachusetts Advisor For Failing to Cooperate With Regulator’s Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-massachusetts-advisor-for-failing-to-cooperate-with-regulators-investigation): The Financial Industry Regulatory Authority (FINRA) has barred a former advisor, Philip Riposo, for failing to cooperate with the regulator’s investi...
- [FINRA Bars Former Ameriprise Advisor Who “Falsified” Client Event Expenses](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-ameriprise-advisor-who-falsified-client-event-expenses): The Financial Industry Regulatory Authority (FINRA) has barred a former Ameriprise advisor who allegedly falsified $25,000 in reimbursement requests submit...
- [GWG Blames SEC Investigation Of Sales Practices For Its Collapse](https://www.ecclestonlaw.com/eccleston-law-blog/gwg-blames-sec-investigation-of-sales-practices-for-its-collapse): In its Chapter 11 bankruptcy filings, GWG has criticized the Securities and Exchange Commission’s (SEC’s) investigation of broker-dealers that ...
- [FINRA Cracks Down On UBS and Berthel Fisher](https://www.ecclestonlaw.com/eccleston-law-blog/finra-cracks-down-on-ubs-and-berthel-fisher): The Financial Industry Regulatory Authority (FINRA) has issued a $350,000 fine to UBS for failing to report trades in TRACE-eligible securities. &...
- [Amateur Investors Took a Billion-Dollar Loss Trading Options Amidst Covid-19](https://www.ecclestonlaw.com/eccleston-law-blog/amateur-investors-took-a-billiondollar-loss-trading-options-amidst-covid19): 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...
- [SEC Doubles Size of Crypto Assets and Cyber Enforcement Unit](https://www.ecclestonlaw.com/eccleston-law-blog/sec-doubles-size-of-crypto-assets-and-cyber-enforcement-unit): The Securities and Exchange Commission (SEC) has added 20 new positions to the enforcement unit responsible for protecting investors in crypto markets and ...
- [Morgan Stanley Seeks to Stop Two Departing Advisors from Transferring Inherited Accounts](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-seeks-to-stop-two-departing-advisors-from-transferring-inherited-accounts): 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 who...
- [FINRA Expected to Address Retail Investor Exposure to Complex ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/finra-expected-to-address-retail-investor-exposure-to-complex-etfs): The Financial Industry Regulatory Authority (FINRA) recently requested comments on whether stricter measures ought to be implemented to curb retail investo...
- [FINRA Reintroduces Expungement Proposal After Substantial Pushback](https://www.ecclestonlaw.com/eccleston-law-blog/finra-reintroduces-expungement-proposal-after-substantial-pushback): After the Financial Industry Regulatory Authority (FINRA) withdrew a broker expungement proposal, the regulator has reversed course and now is recommending...
- [Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/federal-jury-convicts-sarasota-advisor-over-80-million-ponzi-scheme): A federal jury has convicted a Sarasota-based advisor, Michael DaCorta, for conducting an $80 million Ponzi scheme.
- [FINRA Arbitration Claims Decline](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-claims-decline): Fewer investors have been filing arbitration claims to recover their investment losses. However, industry experts anticipate that the case count may climb,...
- [UBS Alleges Former Texas Advisor Stole $17 Million From Clients](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-alleges-former-texas-advisor-stole-17-million-from-clients): UBS Wealth Management alleges that one of its former Texas-based advisors stole nearly $17 million from clients as part of a scheme that ran almost 25 year...
- [Focus Financial Board Member Sues J.P. Morgan Over $7 Million In Pandemic Losses](https://www.ecclestonlaw.com/eccleston-law-blog/focus-financial-board-member-sues-jp-morgan-over-7-million-in-pandemic-losses): A California dermatologist, who also is a Focus Financial Partners board member, has filed a $7 million arbitration claim against J.P. Morgan over pandemic...
- [Some Advisors Chose Inopportune Time To Boost Bet On GWG Bonds](https://www.ecclestonlaw.com/eccleston-law-blog/some-advisors-chose-inopportune-time-to-boost-bet-on-gwg-bonds): Financial advisors who chose to double down on GWG are having second thoughts.
- [UBS Advisor Joins U.S. Capital After Contentious Compliance Review](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-advisor-joins-us-capital-after-contentious-compliance-review): A UBS Wealth Management advisor who generated $3 million in annual revenue has joined U.S. Capital Wealth Advisors, which is a regional Texas-based firm ru...
- [SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-michigan-advisor-who-misappropriated-314000-from-elderly-client): The Securities and Exchange Commission has barred an advisor who allegedly misappropriated nearly $305,000 from an elderly client and additionally overchar...
- [FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-morgan-stanley-advisor-who-solicited-venture-capital-investment): The Financial Industry Regulatory Authority (FINRA) has suspended a former Morgan Stanley advisor for allegedly misleading investors regarding a private pl...
- [Edward Jones Files Motion to Dismiss $15 Million Book of Business Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/edward-jones-files-motion-to-dismiss-15-million-book-of-business-lawsuit): A former Edward Jones advisor has filed suit against Edward Jones over a $15 million book of business.
- [Allianz Pleads Guilty to Fraud and Agrees to Pay $5.8 Billion](https://www.ecclestonlaw.com/eccleston-law-blog/allianz-pleads-guilty-to-fraud-and-agrees-to-pay-58-billion): A unit of Allianz SE has agreed to plead guilty to securities fraud and pay $5.8 billion in fines and restitution following the collapse of a relatively lo...
- [Large GPB Fund Posts Revenue and Income Growth](https://www.ecclestonlaw.com/eccleston-law-blog/large-gpb-fund-posts-revenue-and-income-growth): After considerable delay, GPB Capital Holdings finally has released financial statements to its investors regarding one of its largest funds. &nbs...
- [FINRA and SEC Officials Reveal Common Pitfalls in Reg BI Exam Sweeps](https://www.ecclestonlaw.com/eccleston-law-blog/finra-and-sec-officials-reveal-common-pitfalls-in-reg-bi-exam-sweeps): Regulators have announced their intention to increase the frequency of examinations as they continue to discover spotty compliance even after Regulation Be...
- [Investor Advocates Push SEC to Investigate Mandatory Arbitration Requirements by RIAs](https://www.ecclestonlaw.com/eccleston-law-blog/investor-advocates-push-sec-to-investigate-mandatory-arbitration-requirements-by-rias): A coalition of investor advocates has asked the Securities and Exchange Commission (SEC) to investigate the use of mandatory arbitration clauses that RIAs ...
- [SEC Bars Advisor For Misleading Statements Regarding Woodbridge Securities](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-advisor-for-misleading-statements-regarding-woodbridge-securities): The Securities and Exchange Commission (SEC) has barred an advisor who made misleading statements in connection with sales of Woodbridge Securities through...
- [SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-obtains-emergency-relief-to-halt-alleged-ponzi-scheme): The Securities and Exchange Commission (SEC) has successfully obtained emergency relief, including asset freezes, against two investment advisory firms and...
- [Wells Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-ordered-to-pay-former-credit-suisse-advisor-nearly-a-million-dollars): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay $987,300 in compensatory damages to a former Credit Suis...
- [FINRA Revives Plan To Design Expungement Arbitrator Roster](https://www.ecclestonlaw.com/eccleston-law-blog/finra-revives-plan-to-design-expungement-arbitrator-roster): The Financial Industry Regulatory Authority (FINRA) has announced that it has approved amendments to a rule creating a roster of arbitrators to hear expung...
- [NASAA Members Approve Model Rule Addressing Unpaid Client Arbitration Awards](https://www.ecclestonlaw.com/eccleston-law-blog/nasaa-members-approve-model-rule-addressing-unpaid-client-arbitration-awards): The North American Securities Administrators Association (NASAA) and its members have voted to adopt a model rule addressing financial advisory firms that ...
- [When Custodians Defame Investment Advisers to Their Clients In Terminating Investment Manager Service Agreements](https://www.ecclestonlaw.com/eccleston-law-blog/when-custodians-defame-investment-advisers-to-their-clients-in-terminating-investment-manager-service-agreements): SPECIAL ALERT: When custodians defame investment advisers to their clients in terminating investment manager service agreements ...
- [SEC Charges RiverSource Distributors With Improper Switching of Variable Annuities](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-riversource-distributors-with-improper-switching-of-variable-annuities): The Securities and Exchange Commission (SEC) has agreed to a settlement with RiverSource Distributors Inc. for improper switching or replacing of variable ...
- [SEC Charges Hedge Fund Advisor Over Alleged $39 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-hedge-fund-advisor-over-alleged-39-million-fraud): The Securities and Exchange Commission (SEC) has filed fraud charges against EIA All Weather Alpha Fund I Partners LLC (EIA) and its owner, Andrew Middlebr...
- [UBS Sues Former Advisor Robert Turner Over Alleged Misappropriation of Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-sues-former-advisor-robert-turner-over-alleged-misappropriation-of-client-funds): UBS Financial Services has filed suit against a former Waco, Texas, advisor who allegedly misappropriated nearly $17 million from at least 23 investors ove...
- [Market Volatility Sparks Heightened Scrutiny of Complex Products Sales](https://www.ecclestonlaw.com/eccleston-law-blog/market-volatility-sparks-heightened-scrutiny-of-complex-products-sales): Market volatility can expose financial advisory firms that fail to supervise and ensure their advisors adhere to Regulation Best Interest (Reg BI) rules wh...
- [Barred Sarasota Advisor Becomes Subject Of GWG Bond Complaint](https://www.ecclestonlaw.com/eccleston-law-blog/barred-sarasota-advisor-becomes-subject-of-gwg-bond-complaint): An advisor who received a Financial Industry Regulatory Authority (FINRA) bar last year and had numerous BrokerCheck “disclosures” has become t...
- [FINRA Arbitrators Order Morgan Stanley and Former Advisor to Pay Damages to Mexican Farmer](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitrators-order-morgan-stanley-and-former-advisor-to-pay-damages-to-mexican-farmer): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley and a former advisor with the firm to each pay $160,000 in d...
- [UBS Recovers $2.3 Million From Former Advisor But Must Revise Form U-5 Termination Language](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-recovers-23-million-from-former-advisor-but-must-revise-form-u5-termination-language): A Financial Industry Regulatory Authority (FINRA) arbitration panel recently ordered a former Atlanta-based UBS advisor to repay the firm at least $2.1 mil...
- [SEC Seeks to Have Court Appoint Receiver For GPB Capital](https://www.ecclestonlaw.com/eccleston-law-blog/sec-seeks-to-have-court-appoint-receiver-for-gpb-capital): The Securities and Exchange Commission (SEC) has presented a plan to a New York federal judge that would place GPB Capital Holdings into receivership with ...
- [Three Former J.P. Morgan Advisors Prevail In $3 Million Transition Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/three-former-jp-morgan-advisors-prevail-in-3-million-transition-dispute): A Financial Industry Regulatory Authority (FINRA) arbitration panel has denied J.P. Morgan’s claims against three former advisors who allegedly had v...
- [FINRA Suspends Former Merrill Advisor Who Managed $2 Billion Florida Team](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-merrill-advisor-who-managed-2-billion-florida-team): The Financial Industry Regulatory Authority (FINRA) has issued a six-week suspension and a $5,000 fine to a former Merrill Lynch advisor who previously had...
- [SEC Charges Three Additional Advisors for Recommending Horizon Ponzi Scheme to Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-three-additional-advisors-for-recommending-horizon-ponzi-scheme-to-investors): The Securities and Exchange Commission (SEC) has filed suit against Michael Mooney, Britt Wright, and Penny Flippen pertaining to their engagement with a P...
- [Former Credit Suisse Advisor Prevails in Deferred Compensation Claim](https://www.ecclestonlaw.com/eccleston-law-blog/former-credit-suisse-advisor-prevails-in-deferred-compensation-claim): A former Credit Suisse advisor has prevailed on a $2.2 million arbitration claim after alleging that the firm improperly withheld his deferred compensation...
- [SEC Charges Advisors and Their Firm With Reg BI Violations Over Sales of GWG L Bonds](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-advisors-and-their-firm-with-reg-bi-violations-over-sales-of-gwg-l-bonds): The Securities and Exchange Commission (SEC) has charged Western International Securities and five of its advisors with violating Regulation Best Interest ...
- [SEC Investigates A.G. Morgan Financial Advisors and Others For Selling Unregistered Securities](https://www.ecclestonlaw.com/eccleston-law-blog/sec-investigates-ag-morgan-financial-advisors-and-others-for-selling-unregistered-securities): The Securities and Exchange Commission (SEC) is investigating Vincent Camarda, James McArthur, and A.G. Morgan Financial Advisors.
- [JP Morgan Manager Reveals Issues Regarding ESG Loan Pitches](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-manager-reveals-issues-regarding-esg-loan-pitches): The market for sustainability-linked loans is still severely prone to “greenwashing”, or investing more time and effort into marketing itself a...
- [J.P. Morgan Advisors Ordered To Pay Former Partner $620,000](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-advisors-ordered-to-pay-former-partner-620000): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered a J.P. Morgan team to pay their former partner at least $620,000 over the d...
- [FINRA Fines United Planners Over GPB Private Placement Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-united-planners-over-gpb-private-placement-sales): The Financial Industry Regulatory Authority (FINRA) has fined United Planners’ Financial Services of America over negligent sales of private placemen...
- [Wells Fargo Agrees To $3.75 Million Deal Concluding Ponzi-Aid Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-agrees-to-375-million-deal-concluding-ponziaid-dispute): Investors who alleged that Wells Fargo aided and abetted a real estate Ponzi scheme have asked a California federal judge for permission to proceed with a ...
- [FINRA Fines National Securities $9 Million Over GPB and Other Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-national-securities-9-million-over-gpb-and-other-misconduct): The Financial Industry Regulatory Authority (FINRA) has fined National Securities over a host of issues, including artificially influencing the market for ...
- [Leveraged Municipal Bond Funds Hit With Losses As Bond Market Falters](https://www.ecclestonlaw.com/eccleston-law-blog/leveraged-municipal-bond-funds-hit-with-losses-as-bond-market-falters): The recent bond rout has led to substantial losses for leveraged municipal bond funds.
- [Municipal Bonds Increasingly Held by Funds Rather Than Retail Investors](https://www.ecclestonlaw.com/eccleston-law-blog/municipal-bonds-increasingly-held-by-funds-rather-than-retail-investors): The percentage of outstanding municipal bonds owned by U.S. retail investors dipped to 40% in the first three months of the year in comparison to 46% in 20...
- [Infinity Q Founder Charged by SEC For Overvaluing Assets](https://www.ecclestonlaw.com/eccleston-law-blog/infinity-q-founder-charged-by-sec-for-overvaluing-assets): Infinity Q, a registered investment adviser with the Securities and Exchange Commission (SEC), oversaw a now-shuttered mutual fund, the Infinity Q Diversif...
- [UBS Agrees to Pay $25 Million to Settle SEC Fraud Charges Related to YES](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-agrees-to-pay-25-million-to-settle-sec-fraud-charges-related-to-yes): The Securities and Exchange Commission (SEC) has agreed to a settlement with UBS Financial Services. The firm has agreed to pay $25 million to settle fraud...
- [CFP Board Suspends Advisor Over Improper GWG Bond Sales](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-suspends-advisor-over-improper-gwg-bond-sales): The Certified Financial Planner Board of Standards Inc. (CFP Board) has issued an interim suspension against Patrick Egan, who is an advisor at Western Int...
- [FINRA Orders D.E. Shaw to Pay Former Fund Manager $52 Million in Defamation Suit](https://www.ecclestonlaw.com/eccleston-law-blog/finra-orders-de-shaw-to-pay-former-fund-manager-52-million-in-defamation-suit): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered D.E. Shaw to pay a former fund manager $52 million, which constitutes one o...
- [Notable 2022 Ponzi Schemes](https://www.ecclestonlaw.com/eccleston-law-blog/notable-2022-ponzi-schemes): Several notable Ponzi schemes have been uncovered so far in 2022.
- [Here’s How FINRA Spent Its Fine Proceeds In 2021](https://www.ecclestonlaw.com/eccleston-law-blog/heres-how-finra-spent-its-fine-proceeds-in-2021): The Financial Industry Regulatory Authority (FINRA) imposed fines worth up to $90.1 million in 2021, which was a substantial increase from the $57 million ...
- [SEC Charges Former LPL Advisor With Misappropriating $1.7 Million](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-lpl-advisor-with-misappropriating-17-million): The Securities and Exchange Commission (SEC) has charged a former LPL advisor with misappropriating $1.7 million from at least three clients to cover perso...
- [CFP Board Issues 17 Sanctions in its Recent Round of Disciplinary Actions](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-issues-17-sanctions-in-its-recent-round-of-disciplinary-actions): The Certified Financial Planner Board of Standards (CFP Board) recently issued sanctions against 17 CFP professionals for a host of violations, including a...
- [Reg BI Lands in Top 15 of Customer Disputes in FINRA Arbitration](https://www.ecclestonlaw.com/eccleston-law-blog/reg-bi-lands-in-top-15-of-customer-disputes-in-finra-arbitration): After taking effect nearly two years ago, Regulation Best Interest (Reg BI) has entered the top 15 of FINRA arbitration claims.
- [$1.8 Million SEC Judgement Against Advisor Upheld on Appeal](https://www.ecclestonlaw.com/eccleston-law-blog/18-million-sec-judgement-against-advisor-upheld-on-appeal): The Securities and Exchange Commission (SEC) has convinced the U.S. Court of Appeals for the Seventh Circuit to uphold a $1.8 million judgment imposed on a...
- [SEC Issues Investor Warning Related to Single-Stock ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/sec-issues-investor-warning-related-to-singlestock-etfs): While the Securities and Exchange Commission (SEC) has regularly updated its regulatory framework to address the introduction of complex exchange-traded pr...
- [SEC Issues Warning Related to Single-Stock Levered and Inverse ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/sec-issues-warning-related-to-singlestock-levered-and-inverse-etfs): The Securities and Exchange Commission (SEC) has released a statement addressing single-stock levered and inverse exchange-traded funds (ETFs), which soon ...
- [SEC Releases Statement on Jury Trial Decision Involving McDermott Investment Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-releases-statement-on-jury-trial-decision-involving-mcdermott-investment-advisors): The Securities and Exchange Commission (SEC) has released a statement indicating that a Pennsylvania jury has ruled in its favor in a suit filed nearly thr...
- [SEC Charges Four Unregistered Advisors For Selling Sky Group Securities](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-four-unregistered-advisors-for-selling-sky-group-securities): The Securities and Exchange Commission (SEC) has charged four individuals for improperly selling securities of Sky Group, a Miami-based payday loan company...
- [Equitable to Pay $50 Million Over Misleading Statements on Annuity Fees](https://www.ecclestonlaw.com/eccleston-law-blog/equitable-to-pay-50-million-over-misleading-statements-on-annuity-fees): The Securities and Exchange Commission (SEC) has filed fraud charges against Equitable Financial Life Insurance Co. for furnishing account statements to ne...
- [J.P. Morgan Files Suit Against Former Advisor Over Alleged Client-Poaching](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-files-suit-against-former-advisor-over-alleged-clientpoaching): J.P. Morgan has filed suit against a former advisory who allegedly poached clients after departing the firm to join Stifel, Nicolaus & Co.
- [North Dakota Regulators Seek to Close Down Advisory Firm Selling Crypto and Weed Products](https://www.ecclestonlaw.com/eccleston-law-blog/north-dakota-regulators-seek-to-close-down-advisory-firm-selling-crypto-and-weed-products): The North Dakota Securities Commissioner’s office is seeking to shut down a small West Fargo-based registered investment adviser (RIA) after its owne...
- [SEC Fines RIA $5.8 Million Over 12b-1 Fee Infractions Tied to Wrap Accounts](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-ria-58-million-over-12b1-fee-infractions-tied-to-wrap-accounts): The Securities and Exchange Commission (SEC) has imposed a $5.8 million fine against Private Advisor Group over 12b-1 fee violations tied to its wrap fee p...
- [SEC Files Suit Against Georgia Advisor Over Misappropriation of Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-suit-against-georgia-advisor-over-misappropriation-of-client-funds): The Securities and Exchange Commission (SEC) is filing suit against a Georgia-based advisor, Christopher Burns, who allegedly misappropriated client funds.
- [UBS Wealth Relying on Lending as Client Assets Dip](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-wealth-relying-on-lending-as-client-assets-dip): UBS Wealth Management is relying on loan growth and increasing interest rates amidst a quarter that the company has categorized as “one of the most c...
- [UBS Wealth Group’s Legal Costs Skyrocket in Q2](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-wealth-groups-legal-costs-skyrocket-in-q2): UBS Wealth’s litigation expenses have substantially spiked in the second quarter as the firm has faced a host of investor complaints and regulatory p...
- [FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-schwab-advisor-for-failing-to-disclose-felony-charges): The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.
- [SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-jp-morgan-ubs-and-tradestation-for-deficiencies-pertaining-to-the-prevention-of-customer-identify-theft): The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in t...
- [FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices](https://www.ecclestonlaw.com/eccleston-law-blog/finra-proposal-would-permit-private-homes-to-serve-as-nonbranch-offices): The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).
- [SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation](https://www.ecclestonlaw.com/eccleston-law-blog/sec-warns-financial-advisory-firms-regarding-conflicts-of-interest-tied-to-compensation): The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts ...
- [CFPB Investigates Goldman’s Credit Card Business](https://www.ecclestonlaw.com/eccleston-law-blog/cfpb-investigates-goldmans-credit-card-business): Goldman Sachs has announced that the Consumer Financial Protection Bureau (CFPB) is investigating its credit card business.
- [FINRA Fines J.P. Morgan Over Failure to Supervise a Former Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-jp-morgan-over-failure-to-supervise-a-former-advisor): The Financial Industry Regulatory Authority (FINRA) has fined J.P. Morgan $200,000 for failing to reasonably supervise a former advisor who made several un...
- [Wells Fargo and Former Advisor Ordered to Pay Customers In Churning Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-and-former-advisor-ordered-to-pay-customers-in-churning-dispute): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo and a former advisor to pay a Pennsylvania couple at least $731...
- [Former Advisor Receives Nearly 22 Years in Prison Over Fake-Annuity Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-receives-nearly-22-years-in-prison-over-fakeannuity-scheme): A former Ohio-based advisor has received a 22-year prison sentence after being convicted of misappropriating at least $9.3 million from clients.
- [FINRA Warns Member Firms of E-Signature Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-warns-member-firms-of-esignature-violations): The Financial Industry Regulatory Authority (FINRA) has issued a regulatory notice warning financial advisor firms to closely monitor how advisors utilize ...
- [SEC Charges Angel Oak Capital Advisors with Misleading Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-angel-oak-capital-advisors-with-misleading-investors): The Securities and Exchange Commission (SEC) has charged Angel Oak Capital Advisors and its manager Ashish Negandhi for misleading investors regarding the ...
- [SEC Proposes Joint Amendments to Form PF](https://www.ecclestonlaw.com/eccleston-law-blog/sec-proposes-joint-amendments-to-form-pf): The Securities and Exchange Commission (SEC) is determining whether procced with joint amendments with the Commodity Futures Trading Commission (CFTC) to F...
- [CFP Board Suspends Three Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-suspends-three-advisors): The Certified Financial Planner (CFP) Board of Standards has suspended three advisors from utilizing the CFP mark after two were charged with felonies and ...
- [SEC Charges 18 Defendants in International Scheme to Manipulate Stocks](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-18-defendants-in-international-scheme-to-manipulate-stocks): The Securities and Exchange Commission (SEC) has charged eighteen individual and entity defendants for their roles in orchestrating a scheme in which numer...
- [Former Advisor Pleads Guilty To Fraudulently Obtaining Paycheck Protection Program Loans](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-pleads-guilty-to-fraudulently-obtaining-paycheck-protection-program-loans): A former Florida-based advisor, Gregory Blotnick, has pleaded guilty to fraudulently obtaining at least $4.6 million in Paycheck Protection Program (PPP) l...
- [Massachusetts Initiates Sweep of Single-Stock ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-initiates-sweep-of-singlestock-etfs): Massachusetts’ head securities regulator, William Galvin, has initiated a sweep of complex single-stock exchange-traded fund (ETF) offerings that wer...
- [California Advisor Terminated From Two Firms Over Undisclosed Outside Business](https://www.ecclestonlaw.com/eccleston-law-blog/california-advisor-terminated-from-two-firms-over-undisclosed-outside-business): A California-based financial advisor had his record tarnished on two occasions in a six-month period over related undisclosed outside business activity (OB...
- [SEC Charges Denver Real Estate Developer with Securities Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-denver-real-estate-developer-with-securities-fraud): The Securities and Exchange Commission (SEC) has charged a Denver real estate developer, WDC Holdings LLC, as well as its owner, Robert Watson, for alleged...
- [Former Rockefeller Advisor Lands at Colorado RIA After Unauthorized Trading Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/former-rockefeller-advisor-lands-at-colorado-ria-after-unauthorized-trading-allegations): A former Rockefeller Capital Management advisor, Brent Hablutzel, has joined an LPL Financial-affiliated firm after his termination in July over allegation...
- [FINRA Suspends Former Merrill Advisor Over Unauthorized Trades](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-merrill-advisor-over-unauthorized-trades): The Financial Industry Regulatory Authority (FINRA) has issued a 45-day suspension and a $5,000 fine on a former Merrill Lynch advisor who allegedly comple...
- [FINRA Settles With Kovack Over Failure to Supervise](https://www.ecclestonlaw.com/eccleston-law-blog/finra-settles-with-kovack-over-failure-to-supervise): Kovack Securities over the firm’s failure to supervise one of its unnamed advisors who improperly recommended short-term investments in mutual fund s...
- [Former David Lerner Advisor Agrees To Settlement Over Proprietary Energy Fund](https://www.ecclestonlaw.com/eccleston-law-blog/former-david-lerner-advisor-agrees-to-settlement-over-proprietary-energy-fund): The Financial Industry Regulatory Authority (FINRA) has agreed to a settlement with a barred David Lerner advisor over the millions of dollars of unpaid di...
- [Former Wisconsin Advisor Receives 84-Month Prison Sentence For Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/former-wisconsin-advisor-receives-84month-prison-sentence-for-fraud): A former Wisconsin-based advisor has received an 84-month prison sentence for defrauding nearly 100 investors and a bank, according to the Department of Ju...
- [Terraform Labs Faces Class Action Over TerraUS Failure](https://www.ecclestonlaw.com/eccleston-law-blog/terraform-labs-faces-class-action-over-terraus-failure): Terraform Labs is facing a potential class action suit over the collapse of its TerraUS stablecoin, which generated millions in losses to investors.
- [SEC Charges Hedge Fund Portfolio Manager with Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-hedge-fund-portfolio-manager-with-fraud): The Securities and Exchange Commission (SEC) has charged an Oklahoma City-based hedge fund portfolio manager with defrauding investors by making unauthoriz...
- [SEC Charges Two North Carolina Advisors Over Alleged $75 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-two-north-carolina-advisors-over-alleged-75-million-fraud): The Securities and Exchange Commission (SEC) has charged two North Carolina-based advisors, Gregory Lindberg and Christopher Herwig, with defrauding client...
- [State Regulators Warn Investors About The Metaverse](https://www.ecclestonlaw.com/eccleston-law-blog/state-regulators-warn-investors-about-the-metaverse): While the metaverse is fake, real fraudsters within the virtual world can cause actual financial harm, according to state securities regulators.
- [SEC Charges Private Fund Advisor and Owner With Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-private-fund-advisor-and-owner-with-fraud): The Securities and Exchange Commission (SEC) has charged Ramas Capital Management (RCM) as well as its managing partner and owner, Ganesh Betanabhatla, ove...
- [FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitrators-award-nearly-470000-to-investors-in-ubs-yes-product): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options str...
- [FINRA Penalizes Baird Over $100 Trading Commissions](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-baird-over-100-trading-commissions): The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm ov...
- [CFP Board Lifts Interim Suspension of Former UBS Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-lifts-interim-suspension-of-former-ubs-advisor): The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal ...
- [FINRA Fines Another Financial Advisory Firm Over GPB Private Placement Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-another-financial-advisory-firm-over-gpb-private-placement-sales): The Financial Industry Regulatory Authority (FINRA) has issued a $60,000 fine to Sanctuary Securities, formerly known as David A. Noyes & Company, over...
- [FINRA Fines Financial Advisory Firm After Elderly Client Was Loaded Up on Margin](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-financial-advisory-firm-after-elderly-client-was-loaded-up-on-margin): The Financial Industry Regulatory Authority (FINRA) has agreed to an $86,000 settlement with SagePoint Financial over allegations that the firm failed to e...
- [SEC Charges Four Underwriters to Enforce Municipal Bond Disclosure Law](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-four-underwriters-to-enforce-municipal-bond-disclosure-law): The Securities and Exchange Commission (SEC) has filed suit against Oppenheimer & Co. and additionally announced settlements with BNY Mellon Capital Ma...
- [SEC Charges Loop Capital Markets with Violating Municipal Advisor Registration Rule](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-loop-capital-markets-with-violating-municipal-advisor-registration-rule): The Securities and Exchange Commission has charged Loop Capital Markets for allegedly providing advice to a municipal entity without registering as a munic...
- [SEC Charges Unregistered Crypto Assets Advisor and Owner With Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-unregistered-crypto-assets-advisor-and-owner-with-fraud): The Securities and Exchange Commission (SEC) has charged Chicago Crypto Capital along with its owner, Brian Amoah, and two former salesman, Darcas Young an...
- [SEC Charges Real Estate Investment Firm and Owner Over $100 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-real-estate-investment-firm-and-owner-over-100-million-fraud): The Securities and Exchange Commission has charged Secured Income Group, Inc. along with its owner, Max McDermott, and its head investor relations represen...
- [Former Morgan Stanley Advisor Pleads Guilty to $7 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-pleads-guilty-to-7-million-ponzi-scheme): A former North Carolina-based Morgan Stanley advisor has pleaded guilty to two felony counts in connection with a Ponzi scheme he operated.
- [Sparkster Ordered to Pay $35 Million Over Unregistered Crypto Asset Offering](https://www.ecclestonlaw.com/eccleston-law-blog/sparkster-ordered-to-pay-35-million-over-unregistered-crypto-asset-offering): The Securities and Exchange Commission (SEC) has issued a cease-and-desist order against Sparkster and its CEO, Sajjad Daya, over an unregistered crypto as...
- [Waddell & Reed Ordered to Pay $776,000 Over Reverse Churning](https://www.ecclestonlaw.com/eccleston-law-blog/waddell--reed-ordered-to-pay-776000-over-reverse-churning): Waddell & Reed has agreed to pay nearly $776,000 to settle charges of misconduct over one of its wrap fee programs, according to the Securities and Exc...
- [SEC Charges Chicago Advisor Who Allegedly Misappropriated $683,000 of Investor Funds](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-chicago-advisor-who-allegedly-misappropriated-683000-of-investor-funds): The Securities and Exchange Commission (SEC) has charged a Chicago-based advisor who allegedly misappropriated $683,000 of investor funds.
- [SEC Charges Former Business News Commentator with Misappropriation of Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-business-news-commentator-with-misappropriation-of-client-funds): The Securities and Exchange Commission (SEC) has charged James McDonald and his financial advisory firm, Hercules Investments, in connection with two fraud...
- [SEC Fines Raymond James $500,000 Over Supervisory Failures](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-raymond-james-500000-over-supervisory-failures): The Securities and Exchange Commission (SEC) has imposed a $500,000 fine on Raymond James over its alleged supervisory failures related to a former Tenness...
- [SEC Bars Merrill Manager For Defrauding Client](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-merrill-manager-for-defrauding-client-): The Securities and Exchange Commission (SEC) has barred an Annapolis, Maryland-based Merrill Lynch managed for defrauding a client from 2016 to 2020.
- [SEC Charges Real Estate Developer with Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-real-estate-developer-with-fraud): The Securities and Exchange Commission (SEC) has charged a Texas-based real estate developer and two other individuals for operating a fraudulent real esta...
- [FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trading and Texting](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-morgan-stanley-advisor-over-unauthorized-trading-and-texting): 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 claim...
- [SEC Charges 16 Financial Advisory Firms Over Recordkeeping Failures](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-16-financial-advisory-firms-over-recordkeeping-failures): The Securities and Exchange Commission (SEC) has charged 16 financial advisory firms over widespread failures by the firms and their employees to preserve ...
- [FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap](https://www.ecclestonlaw.com/eccleston-law-blog/finra-updates-sanction-guidelines-by-eliminating-suggested-fine-cap): The Financial Industry Regulatory Authority (FINRA) has updated its sanction guidelines used to determine the level of fines or penalties to impose on firm...
- [SEC Charges Former Chicago LPL Advisor For Stealing $1.3 Million From Elderly Client](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-chicago-lpl-advisor-for-stealing-13-million-from-elderly-client): The Securities and Exchange Commission (SEC) has charged a former LPL financial advisor for stealing nearly $1.3 million from an elderly client, who suffer...
- [SEC Charges California Advisory Firm with Operating a Ponzi-Style Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-california-advisory-firm-with-operating-a-ponzistyle-scheme): The Securities and Exchange Commission (SEC) has charged JMJ Capital Group and its president, Richard Ramirez, with fraudulently raising millions of dollar...
- [SEC Advised To Alter Plan Addressing Onerous RIA Arbitration Clauses and Other Senior Protection Issues](https://www.ecclestonlaw.com/eccleston-law-blog/sec-advised-to-alter-plan-addressing-onerous-ria-arbitration-clauses-and-other-senior-protection-issues-): The Securities and Exchange Commission (SEC) has been urged by several organizations to address investment advisory firms’ use of mandatory arbitrati...
- [SEC Charges Florida Man and French National with $40 Million Securities Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-florida-man-and-french-national-with-40-million-securities-fraud): The Securities and Exchange Commission (SEC) has charged a Florida-based real estate agent, Fernando Bastos, and a resident of France, Joao Fonseca, as wel...
- [FINRA Fines UBS and Barclays Capital Over Trading Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-ubs-and-barclays-capital-over-trading-violations): The Financial Industry Regulatory Authority (FINRA) has fined UBS Securities $2.5 million for violating a rule regarding a common problem known as a &ldquo...
- [FINRA Imposes First Fine For Reg BI Violation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-imposes-first-fine-for-reg-bi-violation): The Financial Industry Regulatory Authority (FINRA) has issued a six-month suspension and a $5,000 fine to a former financial advisor in the regulator&rsqu...
- [SEC Probes Financial Advisory Firms’ Use of WhatsApp and Other Messaging Platforms](https://www.ecclestonlaw.com/eccleston-law-blog/sec-probes-financial-advisory-firms-use-of-whatsapp-and-other-messaging-platforms): The Securities and Exchange Commission (SEC) is investing whether financial advisory firms used WhatsApp or other outside messaging platforms to communicat...
- [SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-crew-capital-group-and-estate-of-steven-swensen-over-fraudulent-investment-scheme): The Securities and Exchange Commission (SEC) has charged Crew Capital Group and the estate of Stephen Swensen, who was formerly a financial advisor, for or...
- [FINRA Fines Janney Over Compliance Failures Related to Two Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-janney-over-compliance-failures-related-to-two-advisors): The Financial Industry Regulatory Authority (FINRA) has fined Janney Montgomery Scott, a regional financial advisory firm, $245,000 due to compliance failu...
- [Regulators Report Surges In Investment Scams Targeting The Elderly](https://www.ecclestonlaw.com/eccleston-law-blog/regulators-report-surges-in-investment-scams-targeting-the-elderly): The Federal Trade Commission (FTC) has announced that older investors lost $147 million due to investment scams in 2021, which constitutes a massive 213% i...
- [FINRA Orders Raymond James to Pay $1.1 Million For Overcharges and Supervisory Failures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-orders-raymond-james-to-pay-11-million-for-overcharges-and-supervisory-failures): The Financial Industry Regulatory Authority (FINRA) has ordered Raymond James to pay at least $1.1 million over supervisory failures that resulted in exces...
- [SEC Bars California Advisor For Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-california-advisor-for-fraud): The Securities and Exchange Commission (SEC) has barred a California-based financial advisor and his firm for engaging in fraud.
- [SEC Obtains Final Judgement Against Cetera Advisors Over Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-obtains-final-judgement-against-cetera-advisors-over-fraud): The Securities and Exchange Commission (SEC) has obtained a final judgement against Cetera Advisors and Cetera Advisor Networks.
- [Merrill to Discontinue 3% Withholding on Financial Advisor Pay](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-to-discontinue-3-withholding-on-financial-advisor-pay): Merrill Lynch has announced plans to discontinue a 2019 pay cut program in a rare concession to its sales force amidst a period of elevated attrition, acco...
- [Former Securities America Advisor Charged with Misappropriating $260,000](https://www.ecclestonlaw.com/eccleston-law-blog/former-securities-america-advisor-charged-with-misappropriating-260000): The Financial Industry Regulatory Authority (FINRA) has barred a former Securities America advisor who allegedly misappropriated $260,000 from clients.
- [Hartman Short Term Income Properties Hires Raymond James to Consider Strategic Alternatives](https://www.ecclestonlaw.com/eccleston-law-blog/hartman-short-term-income-properties-hires-raymond-james-to-consider-strategic-alternatives): A publicly registered non-traded real estate investment trust, Hartman Short Term Income Properties, has announced that its board of directors has hired Ra...
- [FINRA Suspends Former LPL Advisor Who Promised Client “Plenty of Money”](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-lpl-advisor-who-promised-client-plenty-of-money): The Financial Industry Regulatory Authority (FINRA) has issued a three-month suspension and $10,000 fine to a former LPL advisor who allegedly promised to ...
- [FINRA Seeks to Extend Remote Inspections Through 2023](https://www.ecclestonlaw.com/eccleston-law-blog/finra-seeks-to-extend-remote-inspections-through-2023): The Financial Industry Regulatory Authority (FINRA) is once again seeking to extend a temporary rule permitting financial advisory firms to remotely examin...
- [Former Advisor Receives 20-Year Prison Sentence Over Ponzi Scheme Involving Purchase of Advisors’ Books of Business](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-receives-20year-prison-sentence-over-ponzi-scheme-involving-purchase-of-advisors-books-of-business): A former financial advisor who was sentenced earlier this year to 17.5 years in prison for his role in operating a Ponzi scheme now has received a 20-year ...
- [FINRA Releases Regulatory Notice Urging Advisors To Prepare Succession Plans](https://www.ecclestonlaw.com/eccleston-law-blog/finra-releases-regulatory-notice-urging-advisors-to-prepare-succession-plans): The Financial Industry Regulatory Authority (FINRA) is urging financial advisors to establish a succession plan incase of unexpected life events as an incr...
- [SEC Charges Creator of Global Crypto Ponzi Scheme and Three U.S. Promoters Over $295 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-creator-of-global-crypto-ponzi-scheme-and-three-us-promoters-over-295-million-fraud): The Securities and Exchange Commission has charged Douver Braga, Joff Paradise, Keleionalani Taylor, and Jonathan Tetrault for their roles in Trade Coin Cl...
- [CFP Board Suspends Oklahoma Planner Gregory Womack](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-suspends-oklahoma-planner-gregory-womack): The Certified Financial Planner Board of Standards (CFP Board) has issued an interim suspension to Gregory Womack, who operates Womack Investment Advisors ...
- [UBS Seeks Injunction Against $8 Million Indiana RBC Team](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-seeks-injunction-against-8-million-indiana-rbc-team): UBS Wealth Management has asked a federal court to issue a temporary restraining order (TRO) against an $8 million team that departed to RBC Wealth Managem...
- [FINRA Fines Wedbush Securities $850,000 For Allegedly Falsifying Client Statements](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-wedbush-securities-850000-for-allegedly-falsifying-client-statements): The Financial Industry Regulatory Authority (FINRA) has fined Wedbush Securities $850,000 to settle allegations that the firm falsified monthly client stat...
- [FINRA Amends and Delays Expungement Rule Proposal](https://www.ecclestonlaw.com/eccleston-law-blog/finra-amends-and-delays-expungement-rule-proposal): The Financial Industry Regulatory Authority (FINRA) once again has amended and delayed a proposed rule change designed to tighten the process for advisors ...
- [FINRA Launches Targeted Exam on Financial Firms’ Crypto Communications](https://www.ecclestonlaw.com/eccleston-law-blog/FINRA-Launches-Targeted-Exam-on-Financial-Firms-Crypto-Communications): The Financial Industry Regulatory Authority (FINRA) has announced a targeted exam probing for more information as to how firms handled retail communication...
- [GWG Senior Executives Resign Amidst Bankruptcy](https://www.ecclestonlaw.com/eccleston-law-blog/GWG-Senior-Executives-Resign-Amidst-Bankruptcy): GWG Holdings, the financial services firm that is facing Chapter 11 bankruptcy, has announced that the company’s chief executive officer, Murray Holl...
- [FINRA Suspends Former Merrill Advisor Who Operated Numerous Outside Businesses](https://www.ecclestonlaw.com/eccleston-law-blog/FINRA-Suspends-Former-Merrill-Advisor): The Financial Industry Regulatory Authority (FINRA) has issued a six-month suspension and a $10,000 fine to a former Merrill Lynch advisor after his group ...
- [BlockFi Files for Bankruptcy as FTX and Star Endorsers Named in Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/blockfi-files-for-bankruptcy-as-ftx-and-star-endorsers-named-in-lawsuit): BlockFi had paused client withdrawals due to uncertainties with FTX, as the two are closely tied together.
- [Former J.P. Morgan Advisor Agrees to FINRA Bar](https://www.ecclestonlaw.com/eccleston-law-blog/former-jp-morgan-advisor-agrees-to-finra-bar-): A former J.P. Morgan advisor has agreed to an industry bar instead of cooperating with the Financial Industry Regulatory Authority’s (FINRA’s) ...
- [Prager Metis Becomes First CPA Firm Involved With FTX Scam](https://www.ecclestonlaw.com/eccleston-law-blog/prager-metis-becomes-first-cpa-firm-involved-with-ftx-scam): Prager Metis becomes the first CPA firm to open a Metaverse headquarters in the metaverse platform Decentraland.
- [FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trades](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-morgan-stanley-advisor-over-unauthorized-trades): The Financial Industry Regulatory Authority (FINRA) has issued a 20-day suspension and a $6,000 fine to a former Morgan Stanley advisor for allegedly compl...
- [FINRA Bars Former Northwestern Mutual Advisor For Allegedly Cheating on CFP Exam](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-northwestern-mutual-advisor-for-allegedly-cheating-on-cfp-exam): The Financial Industry Regulatory Authority (FINRA) has barred a former Northwestern Mutual advisor after he failed to cooperate with the regulator’s...
- [FINRA Orders Morgan Stanley to Pay $697,897 Over Failure to Supervise Nine Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/finra-orders-morgan-stanley-to-pay-697897-over-failure-to-supervise-nine-advisors): The Financial Industry Regulatory Authority (FINRA) has ordered Morgan Stanley to pay $697,897, including a $200,000 fine and $497,897 in restitution, for ...
- [FINRA Reminds Firm To Monitor For “Red Flags” In Options Trading Applications](https://www.ecclestonlaw.com/eccleston-law-blog/finra-reminds-firm-to-monitor-for-red-flags-in-options-trading-applications): The Financial Industry Regulatory Authority (FINRA) has released an announcement reminding firms that recommend options trading for clients to be constantl...
- [Hartman vREIT XXXI Releases “Going Concern” Warning](https://www.ecclestonlaw.com/eccleston-law-blog/hartman-vreit-xxxi-releases-going-concern-warning): Hartman vREIT XXXI, a non-traded real estate investment trust, has announced its management’s “substantial doubt about the company’s abil...
- [Morgan Stanley Ordered to Pay $11.7 Million Over Unauthorized Covered Call Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-ordered-to-pay-117-million-over-unauthorized-covered-call-strategy): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay a former client $11.7 million over an allegedly unaut...
- [Sam Bankman-Fried Charged by SEC With Fraud Over FTX Collapse](https://www.ecclestonlaw.com/eccleston-law-blog/sam-bankmanfried-charged-by-sec-with-fraud-over-ftx-collapse): The Securities and Exchange Commission (SEC) has charged FTX founder Sam Bankman-Fried with eight criminal counts, including conspiracy and wire fraud, for...
- [FINRA Issues $1.3 Million Penalty To Advisor Group Over Private Placement Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-issues-13-million-penalty-to-advisor-group-over-private-placement-sales): The Financial Industry Regulatory Authority (FINRA) has issued a $1.3 million fine to the four Advisor Group firms, FSC Securities, Royal Alliance Associat...
- [Former GWG CEO Resigns From Board](https://www.ecclestonlaw.com/eccleston-law-blog/former-gwg-ceo-resigns-from-board): GWG Holdings announced its bankruptcy earlier this year, which has resulted in the resignations of multiple members of its board of directors.
- [Eccleston Law LLC Investigates Fallout at Firms Fined by the SEC Over Electronic Communications](https://www.ecclestonlaw.com/eccleston-law-blog/Eccleston-Law-LLC-Investigates): The SEC charged several broker-dealers with failure to maintain and preserve electronic communications, including text messages, assessing over $1 billion ...
- [Former LPL Advisor Arrested On Theft Charges](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-advisor-arrested-on-theft-charges): Bradley Goodbred, a former LPL advisor who was recently charged with theft by the Securities and Exchange Commission (SEC), was arrested by suburban Chicag...
- [SEC Alerts Financial Advisory Firms to Their Failure to Protect Clients From Identity Theft](https://www.ecclestonlaw.com/eccleston-law-blog/sec-alerts-financial-advisory-firms-to-their-failure-to-protect-clients-from-identity-theft): Financial advisory firms are failing to design and maintain effective policies and procedures to restrict hackers from stealing clients’ personal and...
- [FINRA Fines LPL $150,000 For Failing to Detect Advisor’s Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-lpl-150000-for-failing-to-detect-advisors-ponzi-scheme): The Financial Industry Regulatory Authority (FINRA) has fined LPL Financial $150,000 for failing to adequately supervise an advisor who later was found to ...
- [RIAs Increasingly Rely on Non-Competes Borrowed From Broker-Dealers](https://www.ecclestonlaw.com/eccleston-law-blog/RIAs-Increasingly-Rely-on-Non-Competes): Registered investment advisory firms (RIAs) have borrowed a legal tactic from the broker-dealer space, as RIAs increasingly take defectors to court with al...
- [FINRA Fines Edward Jones $1.1 Million For Mishandling Phone Records](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-edward-jones-11-million-for-mishandling-phone-records): The Financial Industry Regulatory Authority (FINRA) has issued a $1.1 million fine to Edward Jones for allegedly mishandling phone records that FINRA was s...
- [FINRA Alters Remote Inspection Proposal to Satisfy Critics](https://www.ecclestonlaw.com/eccleston-law-blog/finra-alters-remote-inspection-proposal-to-satisfy-critics): The Financial Industry Regulatory Authority (FINRA) has amended its proposal to permit financial advisory firms to conduct their internal inspections remot...
- [GWG Obtains Debtor-In-Possession Loan](https://www.ecclestonlaw.com/eccleston-law-blog/gwg-obtains-debtorinpossession-loan): GWG Holdings has obtained a super-priority secured debtor-in possession loan and guaranty agreement to receive money to fund the company’s operations...
- [GWG Bondholders Prepare To File Suit Against Financial Advisory Firms and Executives](https://www.ecclestonlaw.com/eccleston-law-blog/gwg-bondholders-prepare-to-file-suit-against-financial-advisory-firms-and-executives): A group representing nearly 27,000 retail investors is set to file suit against GWG Holdings’ executives as well as the financial advisory firms that...
- [FINRA Settles With Coastal Equities Over Improper GPB Private Placement Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-settles-with-coastal-equities-over-improper-gpb-private-placement-sales): The Financial Industry Regulatory Authority (FINRA) has agreed to a $418,000 settlement with Coastal Equities over sales in 2018 of GPB private placements....
- [Law Firms Investigate Potential Claims Against Silvergate Capital on Behalf of FTX Customers](https://www.ecclestonlaw.com/eccleston-law-blog/law-firms-investigate-potential-claims-against-silvergate-capital-on-behalf-of-ftx-customers): Law firms are investigating potential claims against Silvergate Capital on behalf of FTX customers who wired fiat currency to Alameda Research.
- [FINRA Penalizes Morgan Stanley For Shortchanging Clients $800,000 In Fund Fee Rebates](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-morgan-stanley-for-shortchanging-clients-800000-in-fund-fee-rebates): Morgan Stanley has agreed to pay $802,000 in restitution to clients after a Financial Industry Regulatory Authority (FINRA) investigation found that the fi...
- [FINRA Penalizes Center Street Securities Over Improper GPB Private Placement Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-center-street-securities-over-improper-gpb-private-placement-sales): The Financial Industry Regulatory Authority (FINRA) has imposed a fine on Center Street Securities after the financial advisory firm improperly sold GPB pr...
- [FINRA Proposes Changes To Arbitration Selection Process](https://www.ecclestonlaw.com/eccleston-law-blog/finra-proposes-changes-to-arbitration-selection-process): The Financial Industry Regulatory Authority (FINRA) has proposed rule changes to “enhance the transparency of the arbitrator selection” and oth...
- [Coinbase Agrees to $100 Million Settlement With New York Regulators](https://www.ecclestonlaw.com/eccleston-law-blog/coinbase-agrees-to-100-million-settlement-with-new-york-regulators): Coinbase Global Inc., has agreed to a $100 million settlement with New York Regulators over allegations that the cryptocurrency exchange permitted customer...
- [SEC Charges Former SPAC CFO For Misappropriating Nearly $5 Million](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-spac-cfo-for-misappropriating-nearly-5-million): The Securities and Exchange Commission (SEC) has changed the former CFO of African Gold Acquisition Corp., a special purpose acquisition company (SPAC), fo...
- [SEC Charges Creator of CoinDeal Crypto Scheme and Seven Others Over $45 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-creator-of-coindeal-crypto-scheme-and-seven-others-over-45-million-fraud): The Securities and Exchange Commission (SEC) has changed Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banne...
- [Proposal to Prohibit Non-Compete Clauses May Impact Mergers and Acquisitions of RIAs](https://www.ecclestonlaw.com/eccleston-law-blog/proposal-to-prohibit-noncompete-clauses-may-impact-mergers-and-acquisitions-of-rias): A federal prohibition on noncompete clauses may impact future mergers and acquisitions of investment advisory firms as well as how financial advisors trans...
- [Genesis Global Capital Prepares to File for Bankruptcy](https://www.ecclestonlaw.com/eccleston-law-blog/genesis-global-capital-prepares-to-file-for-bankruptcy): Genesis Global Capital is preparing to file for bankruptcy as soon as this week, according to sources interviewed by Bloomberg News.
- [New CFP Board Chair Plans to Release New Sanction Guidelines by Midyear](https://www.ecclestonlaw.com/eccleston-law-blog/new-cfp-board-chair-plans-to-release-new-sanction-guidelines-by-midyear): The new Certified Financial Planner Board of Standards (CFP Board) chair, Daniel Moisand, has announced a plan to release revised sanction guidelines for p...
- [FINRA Expands Enforcement Priorities For 2023](https://www.ecclestonlaw.com/eccleston-law-blog/finra-expands-enforcement-priorities-for-2023): The Financial Industry Regulatory Authority (FINRA) has announced a plan to expand its enforcement priorities in 2023 to include new areas of focus.
- [SEC Charges Samuel Bankman-Fried With Using FTX To Defraud Crypto Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-samuel-bankmanfried-with-using-ftx-to-defraud-crypto-investors): The Securities and Exchange Commission (SEC) has charged Samuel Bankman-Fried with operating a scheme to defraud equity investors in FTX Trading Ltd.
- [J.P. Morgan Accuses Advisor Of Improperly Transferring Clients to Morgan Stanley in His Transition](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-accuses-advisor-of-improperly-transferring-clients-to-morgan-stanley-in-his-transition): J.P. Morgan has asked a court for a temporary injunction to stop a former advisor from transferring clients during his transition to his new firm, Morgan S...
- [FINRA Releases 2023 Report on Its Examination and Risk Monitoring Program](https://www.ecclestonlaw.com/eccleston-law-blog/finra-releases-2023-report-on-its-examination-and-risk-monitoring-program): The Financial Industry Regulatory Authority (FINRA) recently released its 2023 Report on FINRA’s Examination and Risk Monitoring Program.
- [SEC Files Suit Against Gemini and Genesis Over Crypto “Earn” Program](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-suit-against-gemini-and-genesis-over-crypto-earn-program): The Securities and Exchange Commission (SEC) has filed suit against two crypto brokerages, Genesis Global Capital and Gemini Trust Co., for breaching feder...
- [Silvergate Shares Skyrocket Amidst FTX Meltdown](https://www.ecclestonlaw.com/eccleston-law-blog/silvergate-shares-skyrocket-amidst-ftx-meltdown): Silvergate Capital share prices increased after the company announced its fourth-quarter results, even after FTX’s collapse, which forced Silvergate ...
- [Former LPL Advisor Receives 8-Year Prison Sentence For Misappropriation of Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-advisor-receives-8year-prison-sentence-for-misappropriation-of-client-funds): A former LPL financial advisor recently was sentenced to more than eight years in prison, or 100 months, for his role in a scheme that misappropriated $2.8...
- [Crypto Lender Genesis Files For Bankruptcy](https://www.ecclestonlaw.com/eccleston-law-blog/crypto-lender-genesis-files-for-bankruptcy): Cryptocurrency lender Genesis Global LLC has filed for bankruptcy as the crypto crisis spreads following FTX’s recent meltdown.
- [Clients Increase Their Demands to Cash Out of REITs Amidst Potential Recession](https://www.ecclestonlaw.com/eccleston-law-blog/clients-increase-their-demands-to-cash-out-of-reits-amidst-potential-recession): Investors collectively have rushed to cash out of some non-traded real estate investment trusts (REITs) during the fourth quarter, which has boosted the de...
- [SEC Charges Wisconsin Financial Advisor For Allegedly Defrauding Senior Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-wisconsin-financial-advisor-for-allegedly-defrauding-senior-investors): The Securities and Exchange Commission (SEC) has charged a Wisconsin-based financial advisor, Anthony Liddle, with misappropriating $1.9 million from at le...
- [Morgan Stanley Expected To Soon Resolve Due Diligence Backlog](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-expected-to-soon-resolve-due-diligence-backlog): Morgan Stanley is expected to resolve an issue pertaining to financial advisors whose client accounts have been recently entangled in a due diligence backl...
- [SEC Charges Pennsylvania Investment Advisor With Operating Fraudulent Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-pennsylvania-investment-advisor-with-operating-fraudulent-scheme): The Securities and Exchange Commission (SEC) has charged a former investment advisor, Joshua Coleman, with allegedly operating a fraudulent scheme that gen...
- [Morgan Stanley Fines Some Advisors $1 Million Over Messaging Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-fines-some-advisors-1-million-over-messaging-lapses): Morgan Stanley has fined some of its own financial advisors more than $1 million each for communicating with clients on WhatsApp and other messaging platfo...
- [Advisor Group Firms Avoid Fines Over Sales Charge Waivers](https://www.ecclestonlaw.com/eccleston-law-blog/advisor-group-firms-avoid-fines-over-sales-charge-waivers): The Financial Industry Regulatory Authority (FINRA) previously had ordered three Advisor Group financial advisory firms to pay nearly $515,000 in restituti...
- [SEC Issues New Warning Regarding Reg BI Compliance Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/sec-issues-new-warning-regarding-reg-bi-compliance-lapses): The Securities and Exchange Commission (SEC) has issued a warning indicating that financial advisory firms are relying on outdated systems to achieve compl...
- [FINRA Bars Former UBS Advisor Who Allegedly Misappropriated $7.2 Million](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-ubs-advisor-who-allegedly-misappropriated-72-million): The Financial Industry Regulatory Authority (FINRA) has barred a former UBS financial advisor for allegedly misappropriating millions of dollars from clien...
- [SEC Settles With Moors & Cabot For $1.9 Million Over Disclosure Failures](https://www.ecclestonlaw.com/eccleston-law-blog/sec-settles-with-moors--cabot-for-19-million-over-disclosure-failures): The Securities and Exchange Commission (SEC) has ordered Moors & Cabot to pay $2 million to settle allegations that the firm breached its fiduciary dut...
- [J.P. Morgan Files Suit Against Two Advisors Who Departed For Merrill Lynch](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-files-suit-against-two-advisors-who-departed-for-merrill-lynch): J.P. Morgan has asked a New York state court to issue a temporary restraining order (TRO) barring two of its former advisors from soliciting their former c...
- [FINRA Suspends Two New York Advisors Over Reg BI Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-two-new-york-advisors-over-reg-bi-violations): The Financial Industry Regulatory Authority (FINRA) has suspended two New York-based advisors for violating Regulation Best Interest (Reg BI).
- [SEC Uncovers Massive $500 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-uncovers-massive-500-million-ponzi-scheme): After Las Vegas investigative reporter Jeff German was killed outside his home in September 2022, The Washington Post and the Las Vegas Review-Journal coll...
- [DOJ Probes Silvergate Over FTX, Alameda Research Involvement](https://www.ecclestonlaw.com/eccleston-law-blog/doj-probes-silvergate-over-ftx-alameda-research-involvement): U.S. Department of Justice (DOJ) prosecutors have launched a criminal investigation into Silvergate’s dealings with FTX and Alameda Research, includi...
- [SEC Charges Centaurus Financial, Branch Manager, and Advisor Over Unsuitable Recommendations of Complex Structured Securities](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-centaurus-financial-branch-manager-and-advisor-over-unsuitable-recommendations-of-complex-structured-securities): The Securities and Exchange Commission (SEC) has agreed to a settlement with Centaurus Financial, branch manager Ricky Mantei, and financial advisor Atul M...
- [Hartman vREIT XXI Suspends Investor Distributions](https://www.ecclestonlaw.com/eccleston-law-blog/hartman-vreit-xxi-suspends-investor-distributions): Hartman vREIT XXI announced that its sponsor, Hartman Income REIT Management, has indefinitely suspended investor distributions.
- [Hightower Sues Texas Advisor Who Departed For Avidian](https://www.ecclestonlaw.com/eccleston-law-blog/hightower-sues-texas-advisor-who-departed-for-avidian): Hightower Advisors has filed suit against a Texas-based advisor, James McGinness, for allegedly misappropriating confidential client information and improp...
- [Former Edward Jones Advisor Prevails in TRO Dispute After Joining Ameriprise](https://www.ecclestonlaw.com/eccleston-law-blog/former-edward-jones-advisor-prevails-in-tro-dispute-after-joining-ameriprise): A federal judge has denied Edward Jones’ request to restrict an Illinois-based advisor from contacting his former clients after departing for Ameripr...
- [SEC Examiners to Target Complex Products, Annuities, Non-Traded REITs in Reg BI Investigations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-examiners-to-target-complex-products-annuities-nontraded-reits-in-reg-bi-investigations): The Securities and Exchange Commission’s (SEC’s) Examinations Division will target advisors’ recommendations of complex derivatives and l...
- [Prospect BDC Releases Going Concern Warning](https://www.ecclestonlaw.com/eccleston-law-blog/prospect-bdc-releases-going-concern-warning): Prospect Floating Rate and Alternative Income Fund Inc. (“Prospect”) announced in its most recent quarterly report submitted to the Securities ...
- [Morgan Stanley Ordered to Pay $7.8 Million Over Improper Hiring of Schwab Financial Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-ordered-to-pay-nearly-8-million-over-improper-hiring-of-schwab-financial-advisors): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $7.8 million after its improperly recruited two finan...
- [FINRA Finds Schwab Liable to Investor For Recommending Unsuitable Complex ETF](https://www.ecclestonlaw.com/eccleston-law-blog/finra-finds-schwab-liable-to-investor-for-recommending-unsuitable-complex-etf): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Charles Schwab to pay an investor and his designated beneficiary plan $144,...
- [FTX Investor Files Suit Against Sequoia Capital, Thoma Bravo, Paradigm](https://www.ecclestonlaw.com/eccleston-law-blog/ftx-investor-files-suit-against-sequoia-capital-thoma-bravo-paradigm): A cryptocurrency investor has filed suit against private equity firms including Sequoia Capital, Thoma Bravo, and Paradigm for improperly touting the legit...
- [Hightower Fails To Stop Former Advisor From Establishing Competing Business](https://www.ecclestonlaw.com/eccleston-law-blog/hightower-fails-to-stop-former-advisor-from-establishing-competing-business): A former Alabama-based Hightower advisor has prevailed in court after the firm attempted to stop the advisor from establishing a competing firm.
- [KBS Growth & Income REIT Defaults on Commonwealth Building Loan](https://www.ecclestonlaw.com/eccleston-law-blog/kbs-growth--income-reit-defaults-on-commonwealth-building-loan): KBS Growth & Income REIT Inc., a publicly registered non-traded real estate investment trust, announced that the company has defaulted on the Commonwea...
- [SEC Charges NBA Hall of Famer Paul Pierce For Improperly Promoting Crypto Security](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-nba-hall-of-famer-paul-pierce-for-improperly-promoting-crypto-security): The Securities and Exchange Commission (SEC) has charged NBA Hall of Famer Paul Pierce for promoting EMAX tokens, crypto securities sold by EthereumMax, on...
- [FINRA Bars High-Producing Beverly Hills Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-highproducing-beverly-hills-advisor): The Financial Industry Regulatory Authority (FINRA) has barred a Beverly Hills-based advisor, Antoine Souma, who allegedly participated in a private securi...
- [Oil Entrepreneur Sues Wells Fargo and LPL For Mismanaging Securities-Based Loan Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/oil-entrepreneur-sues-wells-fargo-and-lpl-for-mismanaging-securitiesbased-loan-strategy): An oil refinery entrepreneur has filed suit against Wells Fargo Advisors and LPL Financial alleging that his advisor overleveraged his account with a $5 mi...
- [Illinois and Georgia Become Newest States to Adopt Best Interest Annuity Rules](https://www.ecclestonlaw.com/eccleston-law-blog/illinois-and-georgia-become-newest-states-to-adopt-best-interest-annuity-rules): Illinois and Georgia have become the 32nd and 33rd states to adopt rules mandating a best interest standard for annuity sales and recommendations following...
- [Stifel Files Suit Against Indiana Advisory Firm Co-Led by Former Vice President’s Brother](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-files-suit-against-indiana-advisory-firm-coled-by-former-vice-presidents-brother): Stifel, Nicolaus & Co. has filed suit against one of its largest teams that is co-led by a brother of former Vice President Mike Pence for allegedly st...
- [KBS REIT III Urges Shareholders to Reject Mini Tender Offer](https://www.ecclestonlaw.com/eccleston-law-blog/kbs-reit-111-urges-shareholders-to-reject-mini-tender-offer): The board of directors for KBS Real Estate Investment Trust III Inc., a publicly registered non-traded real estate investment trust, has urged shareholders...
- [Robinhood and Other Brokerages Restrict Customers From Cashing In Profitable Put Options On Silicon Valley Bank and Signature Bank](https://www.ecclestonlaw.com/eccleston-law-blog/robinhood-and-other-brokerages-restrict-customers-from-cashing-in-profitable-put-options--on-silicon-valley-bank-and-signature-bank): Robinhood is restricting customers from cashing in on their bets against Silicon Valley Bank and Signature Bank even as put options appear to be in the mon...
- [Recent Study Shows FINRA Enforcement Actions Declined Last Year](https://www.ecclestonlaw.com/eccleston-law-blog/recent-study-shows-finra-enforcement-actions-declined-last-year): The Financial Industry Regulatory Authority (FINRA) reported only $45 million in fineslast year in comparison to $103 million in 2021, according to an annu...
- [Silver Star Properties REIT Investigating Founder For Alleged Fiduciary Violations](https://www.ecclestonlaw.com/eccleston-law-blog/silver-star-properties-reit-investigating-founder-for-alleged-fiduciary-violations): Silver Star Properties REIT, a publicly registered non-traded real estate investment trust,recently announced that the executive committee of the board has...
- [Silver Star Properties REIT Pursuing “Complete Separation” From Hartman](https://www.ecclestonlaw.com/eccleston-law-blog/silver-star-properties-reit-pursuing-complete-separation-from-hartman): Silver Star Properties REIT, formerly known as Hartman Short Term Income PropertiesXX Inc., announced that the company is “currently in discussions&r...
- [Sanford Bernstein & Co. and Alliance Bernstein Face FINRA Arbitration Claim Over Options Advantage Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/sanford-bernstein--co-and-alliance-bernstein-face-finra-arbitration-claim-over-options-advantage-strategy): Sanford Bernstein & Co. and Alliance Bernstein (Bernstein) are facing what could be the first of several Financial Industry Regulatory Authority (FINRA...
- [Morgan Stanley Obtains TRO Against Pennsylvania LPL Advisor Over Inherited Accounts and Misrepresentations](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-obtains-tro-against-pennsylvania-lpl-advisor-over-inherited-accounts-and--misrepresentations): A federal judge has awarded Morgan Stanley a temporary restraining order (TRO)against a Pennsylvania-based advisor who recently departed for LPL Financial.
- [Heartland Bank & Trust Co. Agrees to $9 Million Settlement For Allegedly Aiding and Abetting a Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/heartland-bank--trust-co-agrees-to-9-million-settlement-for-allegedly-aiding-and-abetting--a-ponzi-scheme): The Securities and Exchange Commission (SEC) has agreed to a $9 million settlementwith Heartland Bank & Trust Co. over the bank’s alleged role in...
- [SEC Charges Financial Advisor and Firm for Defrauding Clients with Annuity Sales](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-financial-advisor-and-firm-for-defrauding-clients-with-annuity-sales): The Securities and Exchange Commission (SEC) has charged a Massachusetts-based financial advisor, Jeffrey Cutter, and his firm, Cutter Financial Group, for...
- [FINRA Suspends Long Island Advisor Over Inaccurate Client Contact Notes](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-long-island-advisor-over-inaccurate-client-notes): The Financial Industry Regulatory Authority (FINRA) has issued a two-month suspension to a Long Island-based advisor, Derek Rehill, for allegedly reco...
- [Coinbase Receives SEC Wells Notice Regarding Intent to File Suit Over Crypto Offerings](https://www.ecclestonlaw.com/eccleston-law-blog/coinbase-receives-sec-wells-notice-regarding-intent-to-file-suit-over-crypto-offerings): Coinbase Global announced that it has received a Wells Notice from the Securities and Exchange Commission (SEC) declaring the regulator’s intent...
- [SEC Charges Financial Advisor With Misappropriating Funds From NBA Players](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-financial-advisor-with-misappropriating-funds-from-nba-players): The Securities and Exchange Commission (SEC) has charged a former Morgan Stanley advisor, Darryl Cohen, with misappropriating nearly $1 million from t...
- [Non-Traded REIT Redemptions Exceed 350% of Fundraising in February](https://www.ecclestonlaw.com/eccleston-law-blog/nontraded-reit-redemptions-exceed-350-of-fundraising-in-february): Fundraising among non-traded real estate investment trusts has dipped to $489 million in February 2023, which constitutes the lowest point since Augus...
- [Morgan Stanley Ordered to Pay $782,000 Over Mismanagement of Client’s Estate](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-ordered-to-pay-782000-over-mismanagement-of-clients-estate): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $782,000 to a client’s estate after the fi...
- [FINRA Warns Firms Regarding Fraudulent Account Transfers](https://www.ecclestonlaw.com/eccleston-law-blog/finra-warns-firms-regarding-fraudulent-account-transfers): The Financial Industry Regulatory Authority (FINRA) is warning financial advisory firms about a recent increase in fraudulent transfers of client acco...
- [FINRA Submits Further Revisions To Remote Supervision Proposal](https://www.ecclestonlaw.com/eccleston-law-blog/finra-submits-further-revisions-to-remote-supervision-proposal): The Financial Industry Regulatory Authority (FINRA) has submitted to the Securities and Exchange Commission (SEC) another revision to one of its two remote...
- [SEC Seeks to Expand “Dealer” Definition to Expand Regulatory Oversight](https://www.ecclestonlaw.com/eccleston-law-blog/sec-seeks-to-expand-dealer-definition-to-expand-regulatory-oversight): The Securities and Exchange Commission (SEC) is seeking to expand its definition of “securities dealers”, which has resulted in criticism ...
- [Blackstone REIT Limited Investor Redemptions in March](https://www.ecclestonlaw.com/eccleston-law-blog/blackstone-reit-limited-investor-redemptions-in-march): Blackstone Real Estate Income Trust, a non-traded real estate investment trust sponsored by Blackstone Group, announced that the company fulfilled onl...
- [FINRA Bars Former LPL and Raymond James Advisor Who Improperly Borrowed $850,000 From Clients](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-lpl-and-raymond-james-advisor-who-improperly-borrowed-850000--from-clients): The Financial Industry Regulatory Authority (FINRA) has barred a Chattanooga-based financial advisor who improperly borrowed at least $850,000.
- [SEC Orders Merrill Lynch to Pay $9.7 Million For Failing to Disclose Foreign Exchange Fees](https://www.ecclestonlaw.com/eccleston-law-blog/sec-orders-merrill-lynch-to-pay-97-million-for-failing-to-disclose-foreign-exchange-fees): The Securities and Exchange Commission (SEC) has ordered Merrill Lynch to pay $9.7 million for failing to disclose certain foreign exchange fees charg...
- [FINRA Arbitration Panel Orders Wells Fargo To Pay Client $500,000 For Mismanagement of McDonald’s Stock Options](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-panel-orders-wells-fargo-to-pay-client-500000-for-mismanagement-of--mcdonalds-stock-options): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay a former McDonald’s franchise owner $500,000 ...
- [FINRA Arbitration Panel Awards Double Damages to Florida Investor Over Advisor’s “Egregious” Lies](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-panel-awards-double-damages-to-florida-investor-over-advisors--egregious-lies): A Financial Industry Regulatory Authority (FINRA) arbitration panel has doubled the damages a former advisor must pay to a Florida-based investor due ...
- [FINRA Re-Files Remote Inspection Pilot Proposal With SEC](https://www.ecclestonlaw.com/eccleston-law-blog/finra-refiles-remote-inspection-pilot-proposal-with-sec): The Financial Industry Regulatory Authority (FINRA) has resubmitted a proposal to the Securities and Exchange Commission (SEC) in order to permit firm...
- [SEC Approves FINRA’s More Restrictive CRD Expungement Rules](https://www.ecclestonlaw.com/eccleston-law-blog/sec-approves-finras-more-restrictive-crd-expungement-rules): The Securities and Exchange Commission (SEC) has approved a new Financial Industry Regulatory Authority (FINRA) rule that makes it more difficult for ...
- [Ohio-Based Financial Advisors Indicted Over Massive $72 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/ohiobased-financial-advisors-indicted-over-massive-72-million-ponzi-scheme): Ohio Attorney General Dave Yost and Ohio Department of Commerce Director Sherry Maxfield have announced multiple felony charges against a group of fin...
- [SEC Charges Corvex Management For Failing to Disclose Conflicts of Interest](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-corvex-management-for-failing-to-disclose-conflicts-of-interest): The Securities and Exchange Commission (SEC) has charged Corvex Management for failing to disclose conflicts of interest related to its personnel&rsqu...
- [FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock](https://www.ecclestonlaw.com/eccleston-law-blog/finra-orders-rbc-to-pay-11-million-over-alleged-churning-of-preferred-stock): The Financial Industry Regulatory Authority (FINRA) has ordered RBC Wealth Management to pay $1.1 million after the firm allegedly failed to adequatel...
- [SEC Charges Betterment For Misstatements Regarding Tax Loss Harvesting Service](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-betterment-for-misstatements-regarding-tax-loss-harvesting-service): The Securities and Exchange Commission (SEC) has charged Betterment LLC for material misstatements and omissions regarding its automated tax loss harv...
- [These Two State Regulators Serve as Financial Markets’ Primary First Responders](https://www.ecclestonlaw.com/eccleston-law-blog/these-two-state-regulators-serve-as-financial-markets-primary-first-responders): Two state securities regulators frequently stand out as “First Responders.”
- [SEC Releases Final Reg BI Staff Bulletin Addressing Duty of Care](https://www.ecclestonlaw.com/eccleston-law-blog/sec-releases-final-reg-bi-staff-bulletin-addressing-duty-of-care): The Securities and Exchange Commission (SEC) recently published a final staff bulletin on Regulation Best Interest (Reg BI), this time highlighting th...
- [Prudential Improperly Collected Life Insurance Premiums and Informed Claimants They Were Ineligible](https://www.ecclestonlaw.com/eccleston-law-blog/prudential-improperly-collected-life-insurance-premiums-and-informed-claimants-they-were--ineligible): The Department of Labor (DOL) has agreed to a settlement with Prudential after the insurer improperly collected life insurance premiums from customers...
- [Top-Ranked UBS Advisor in Las Vegas Wins Expungement With Help From Client](https://www.ecclestonlaw.com/eccleston-law-blog/top-ranked-ubs-advisor-in-las-vegas-wins-expungement-with-help-from-client): A top-ranked Las Vegas-based UBS financial advisor has prevailed in his expungement hearing with the help of the customer who initially had filed the ...
- [Raymond James and Two Financial Advisors Win $16.4 Million Arbitration Award Against Deutsche Bank](https://www.ecclestonlaw.com/eccleston-law-blog/raymond-james-and-two-financial-advisors-win-164-million-arbitration-award-against--deutsche-bank): A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Deutsche Bank to pay $16.4 million to Raymond James and two financial ...
- [Former Cetera Advisor Wins $500,000 Arbitration Award Over Failed M&A Deal](https://www.ecclestonlaw.com/eccleston-law-blog/former-cetera-advisor-wins-500000-arbitration-award-over-failed-ma-deal): A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded nearly $500,000 to a former Cetera Financial Group advisor, Betsy Jo M...
- [Stifel Fined $2.5 Million After Advisor Charged Excessive Fees to Seniors and a Church](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-fined-25-million-after-advisor-charged-excessive-fees-to-seniors-and-a-church): Massachusetts’ top securities regulator, William Galvin, has ordered Stifel, Nicolaus & Co. to pay $2.5 million for failing to supervise an advis...
- [BREIT Limits Redemption Requests for Sixth Consecutive Month](https://www.ecclestonlaw.com/eccleston-law-blog/breit-limits-redemption-requests-for-sixth-consecutive-month): Blackstone Real Estate Income Trust Inc. has announced that the company limited redemption requests again last month raising concerns among some inves...
- [SEC Charges Son and Father-in-Law Who Targeted Church Members in $20 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-son-and-fatherinlaw-who-targeted-church-members-in-20-million-fraud): The Securities and Exchange Commission (SEC) has charged Brett Bartlett and his father-in-law, Scott Miller, along with their companies over fraudulen...
- [U.S. Government To Investigate Goldman’s Role in Failed SVB Deal](https://www.ecclestonlaw.com/eccleston-law-blog/us-government-to-investigate-goldmans-role-in-failed-svb-deal): U.S. governmental agencies are set to investigate Goldman Sachs’ role in Silicon Valley Bank’s (SVB’s) last-ditched effort to raise ...
- [Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-sachs-pays-215-million-to-settle-class-action-suit-on-underpaying-women): Goldman Sachs has agreed to pay $215 million to settle a class-action lawsuit that accused the company of systemically underpaying female employees.
- [SEC Charges Two Texas Advisors Over $155 Million Fraudulent Oil & Gas Offering](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-two-texas-advisors-over-155-million-fradulent-oil-gas-offering): The Securities and Exchange Commission (SEC) has charged Roy Hill and Eric Shelly along with two entities under their ownership, Clean Energy Technolo...
- [Federal Judge Reaffirms Injunctions Against Advisors Who Departed USI for Lockton](https://www.ecclestonlaw.com/eccleston-law-blog/federal-judge-reaffirms-injunctions-against-advisors-who-departed-usi-for-lockton): A federal judge has upheld and expanded an injunction against several former USI financial advisors who departed for Lockton.
- [Financial Advisory Firms Seek to Prevent “Disharmony” on Large Teams](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisory-firms-seek-to-prevent-disharmony-on-large-teams): Financial advisory firms and company executives continue to promote organizing as a team, which supposedly creates an improved service model for clien...
- [FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-expels-sw-financial-and-suspends-chief-executive-officer-for-reg-bi-violation): The Financial Industry Regulatory Authority (FINRA) has sanctioned a New York-based financial advisory firm, SW Financial, and its Chief Executive Off...
- [Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/federal-prosecutors-charge-hedge-fund-manager-for-ponzi-scheme): A former Chicago-based commodities trader, Phillip Galles, has been charged with a single count of wire fraud for allegedly misappropriating $2 millio...
- [Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-pays-1-billion-to-settle-classaction-lawsuit): Wells Fargo has agreed to pay $1 billion to settle a shareholder lawsuit that accused the company of making misleading statements related to its compl...
- [Top Merrill Advisor Resigns Amid Customer Complaints](https://www.ecclestonlaw.com/eccleston-law-blog/top-merrril-advisor-resigns-amid-customer-complaints): William King, a top-ranked advisor, voluntarily resigned last month after receiving at least ten customer complaints since August.
- [CFP Board Adopts Revised Procedural Rules](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-adopts-revised-procedural-rules): The Certified Financial Planner Board (CFP Board) recently announced the adoption of the revised Procedural Rules. These rules, which will come into effect...
- [FINRA Focuses On Dual Registrant Hybrid Brokers and Investment Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/finra-focuses-on-dual-registrant-hybrid-brokers-and-investment-advisors): The Financial Industry Regulatory Authority (FINRA) has recently intensified its enforcement efforts to address a concerning issue related to hybrid b...
- [Fidelity Ordered To Pay Options Trader $4 Million](https://www.ecclestonlaw.com/eccleston-law-blog/fidelity-ordered-to-pay-options-trader-4-million): Financial Industry Regulatory Authority (FINRA) arbitrators have recently ruled in favor of an options trader, ordering Fidelity Brokerage Services to...
- [Wells Fargo Advisor Sanctioned Due to Role as Customer Account Beneficiary](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-advisor-sanctioned-due-to-role-as-customer-account-beneficiary): The Financial Industry Regulatory Authority (FINRA) has imposed a suspension and a $5,000 fine on Mark A. Brewer, a Wells Fargo Advisor, for acting as a be...
- [Compliance Professionals Emphasize the Significance of SEC Reg BI Bulletins in Examinations](https://www.ecclestonlaw.com/eccleston-law-blog/compliance-professionals-emphasize-the-significance-of-sec-reg-bi-bulletins-in-examinations): Securities and Exchange Commission (SEC) top compliance officials recently announced that the Regulation Best Interest (Reg BI) bulletins will be used in f...
- [MLB Pitcher Turned Financial Advisor Barred By FINRA](https://www.ecclestonlaw.com/eccleston-law-blog/mlb-pitcher-turned-financial-advisor-barred-by-finra): Christopher J. Carpenter, a former Major League Baseball player, has been barred by the Financial Industry Regulatory Authority (FINRA) for his refusa...
- [Morgan Stanley Ordered to Pay Huntington Bank's Brokerage Unit](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-ordered-to-pay-huntington-banks-brokerage-unit): Morgan Stanley, along with two advisors, has been found jointly responsible for $333,000 in damages and legal fees by an arbitration panel of the Financial...
- [Former Morgan Stanley Advisor Sentenced To 7.25 Years For Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-sentenced-7-years-for-fraud): Shawn E. Good pleaded guilty in September to wire fraud and money laundering charges based on allegations that he had operated a decade-long Ponzi scheme f...
- [House Approves Several Bills Expanding Investment Opportunities](https://www.ecclestonlaw.com/eccleston-law-blog/house-approves-several-bills-expanding-investment-opportunities): The full House has passed the Equal Opportunity for All Investors Act of 2023, which among other things would require the Securities and Exchange Commissio...
- [SEC Files Fraud Charges Against Financial Advisor for Exploiting Elderly Clients](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-charges-against-financial-advisor-for-exploiting-elderly-clients): The Securities and Exchange Commission (SEC) has charged Douglas McKelvey, a former Morgan Stanley financial advisor, with fraud for misappropriating more ...
- [Former David Lerner Branch Manager Receives FINRA Sanctions for Supervisory Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/former-david-lerner-manager-receives-finra-sanctions): The Financial Industry Regulatory Authority (FINRA) imposed a one-month suspension and a $5,000 fine on former David Lerner Associates branch manager Rande...
- [Retrospective Review Deadline Approaching](https://www.ecclestonlaw.com/eccleston-law-blog/retrospective-review-deadline-approaching): The deadline for completing the initial retrospective review required by the Department of Labor (DOL) is quickly approaching.
- [Morgan Stanley Wealth Management Initiates Management Restructuring in Southern New Jersey and New York City](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-wealth-management-restructuring-mew-jersey-nyc): In an internal announcement this week, Morgan Stanley unveiled what it portrays as a strategic reorganization in Southern New Jersey and New York City, wit...
- [SEC Announces Expanded Scope of Marketing Rule Compliance Exams for Investment Advisers](https://www.ecclestonlaw.com/eccleston-law-blog/sec-announces-scope-marketing-rule-compliance-exams-investment-advisors): The Securities and Exchange Commission (SEC) recently released a risk alert announcing that examiners now will broaden their focus when reviewing firms' co...
- [Silver Star Properties REIT Raises Concerns about Future Viability in SEC Filing](https://www.ecclestonlaw.com/eccleston-law-blog/silver-star-properties-reit-raises-concerns-future-viability-sec-filing): Silver Star Properties REIT Inc., previously known as Hartman Short Term Income Properties XX Inc., has raised concerns about its ability to sustain operat...
- [Former LPL Advisor Created Fraudulent Bank Account To Steal $1.3 Million From Customer](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-created-fraudulent-account-to-steal-1-million): The Securities and Exchange Commission (SEC) filed a complaint accusing Patrick N. Thayer of stealing $1.3 million from a customer.
- [Five Major Rules The SEC Plans To Finalize By Year-End](https://www.ecclestonlaw.com/eccleston-law-blog/5-major-rules-sec-plans-to-finalize-by-year-end): According to the Securities and Exchange Commission’s (SEC) Spring 2023 regulatory flexibility agenda, the SEC plans to finalize several controversia...
- [FINRA Bars LPL Advisor for Non-Cooperation in Overdraft Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-advisor-for-non-cooperation-in-investigation): The Financial Industry Regulatory Authority (FINRA) has banned a former advisor from LPL Financial due to his refusal to cooperate with an investigation.
- [SEC Files Charges Against Florida Resident Cedric Griffin for $5.9 Million Ponzi Scheme Targeting African American Community](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-charges-against-florida-resident-for-5-million-ponzi-scheme): Cedric Dewayne Griffin has been charged by the Securities and Exchange Commission (SEC) for running a Ponzi scheme targeting the African American community...
- [Surge in Elderly-Targeted Cryptocurrency Scams](https://www.ecclestonlaw.com/eccleston-law-blog/surge-elderly-targeted-cryptocurrency-scams): According to U.S. Department of Justice research, over 3,000 senior citizens were victims of investment cryptocurrency scams.
- [The Growing Compliance Risks of Neglecting Life Settlement Discussions](https://www.ecclestonlaw.com/eccleston-law-blog/the-growing-compliance-risks-of-neglecting-life-settlement-discussions): According to a recent article in Wealth Solutions Report, broker-dealers should consider enhanced oversight pertaining to suitability, recommendations, and...
- [Attorneys Believe James Gorman's "New Blood" Remarks Could Strengthen Ageism Lawsuits](https://www.ecclestonlaw.com/eccleston-law-blog/attorneys-believe-james-gormans-new-blood-remarks-could-strengthen-ageism-lawsuits-): James Gorman, CEO of Morgan Stanley, has faced criticism for his recent comments regarding the company's termination of around 3,500 employees since April.
- [Epicenters of Investment Fraud Revealed in New Study](https://www.ecclestonlaw.com/eccleston-law-blog/epicenters-investment-fraud-revealed-in-study): 2022 witnessed a staggering surge in investment fraud, surpassing all other types of fraud in terms of monetary losses among Americans.
- [Fidelity Study Finds Rise in RIA Valuations Reaches Plateau](https://www.ecclestonlaw.com/eccleston-law-blog/fidelity-study-finds-rise-in-ria-valuations-reaches-plateau): According to a recent study conducted by Fidelity Investments, the financial industry expects a continued rise in registered investment advisor (RIA) dealm...
- [Investment Adviser Numbers Reach Unprecedented Heights](https://www.ecclestonlaw.com/eccleston-law-blog/investment-adviser-numbers-reach-unprecedented-heights): According to the Investment Adviser Association's (IAA) recent industry study, the number of investment advisers reached a record high in 2022, along with ...
- [SEC Report Highlights Concerns Over Mandatory Arbitration Clauses In RIA Practices](https://www.ecclestonlaw.com/eccleston-law-blog/sec-report-highlights-concerns-over-mandatory-arbitration-clauses-in-ria-practices): A recent report from the Securities and Exchange Commission (SEC) to Congress has expressed concerns regarding using mandatory arbitration clauses in retai...
- [SEC Struggles with RIA Arbitration Statistics](https://www.ecclestonlaw.com/eccleston-law-blog/sec-struggles-with-ria-arbitration-statistics): A recent report reveals that the Securities and Exchange Commission (SEC) lacks the means to monitor the count of registered investment advisor (RIA) arbit...
- [Merrill Lynch Ends Relationship with 44-Year Veteran in Indianapolis for Policy Violations](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-ends-relationship-with-veteran-for-policy-violations): Merrill Lynch has ended its association with Bruce McCaw, a highly experienced industry professional who began his career in 1971.
- [SEC Files Charges Against Oregon Residents and Affiliated Entities in $10 Million Ponzi-like Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-charges-against-oregon-residents-and-affiliated-entities-in-10-million-ponzilike-scheme-): The Securities and Exchange Commission (SEC) has filed charges against Robert D. Christensen and Anthony M. Matic, residents of Oregon, along with multiple...
- [FINRA Penalizes Hightower Securities with $353,000 Fine & Restitution for Violations in Alternative Fund Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-hightower-securities-with-353000-fine--restitution-for-violations-in-alternative-fund-sales-): The Financial Industry Regulatory Authority (FINRA) has censured Hightower Securities, the broker-dealer for Hightower Advisors, a Chicago-based advisory f...
- [FINRA Reports $218 Million Net Loss in 2022; CEO Compensation Surges by 11.5%](https://www.ecclestonlaw.com/eccleston-law-blog/finra-reports-218-million-net-loss-in-2022): According to its annual report, the Financial Industry Regulatory Authority (FINRA) reported a net loss of $218.1 million in 2022, compared to a net profit...
- [FINRA Bars Former Wells Fargo Broker for Non-Cooperation in Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-wells-fargo-broker-for-non-cooperation-in-investigation): The Financial Industry Regulatory Authority (FINRA) has barred Brad M. Jacobson, a former broker at Wells Fargo Advisors and a 17-year wirehouse veteran, d...
- [SEC to Implement New Rules for Money-Market Mutual Funds, Potentially Clashing with Industry Giants](https://www.ecclestonlaw.com/eccleston-law-blog/sec-to-implement-new-rules-for-mutual-funds): The US Securities and Exchange Commission (SEC) is preparing to enforce a series of new regulations on money-market mutual funds, potentially leading to a ...
- [FINRA Bars Illinois Advisor for Failing to Disclose Private Securities Transactions](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-illinois-advisor-for-failing-to-disclose-private-securities-transactions): The Financial Industry Regulatory Authority (FINRA) has barred an Illinois-based representative, David R. Geake, due to allegations of soliciting an elderl...
- [UBS Agrees to Settle Class-Action Municipal Bonds Suit for 2.5 million](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-agrees-to-settle-classaction-municipal-bonds-suit-for-25-million): In the case Goodman v. UBS Financial Services, 21-cv-18123, U.S. District Court, New Jersey, a federal judge in New Jersey gave preliminary approval to UBS...
- [First Republic Deal Adds $151 Billion to JP Morgan’s Wealth Assets](https://www.ecclestonlaw.com/eccleston-law-blog/first-republic-deal-adds-151-billion-to-jp-morgans-wealth-assets): JPMorgan Chase & Co.’s acquisition of First Republic Bank will add $150.9 billion of client assets to JPMorgan’s wealth segment in its Cons...
- [Silver Star Properties REIT Investigated by SEC](https://www.ecclestonlaw.com/eccleston-law-blog/silver-star-properties-reit-investigated-by-sec): Silver Star Properties REIT Inc. received notice of an investigation by the Securities and Exchange Commission.
- [Oklahoma Adopts Best Interest Annuity Rule](https://www.ecclestonlaw.com/eccleston-law-blog/oklahoma-adopts-best-interest-annuity-rule): Oklahoma joins 39 other states including Illinois, Georgia, Washington, Florida, Tennessee, Kansas, Oregon, and Wyoming by finalizing a best-inte...
- [SEC Wants to Add 83 Examiners](https://www.ecclestonlaw.com/eccleston-law-blog/sec-wants-to-add-83-examiners): The Appropriations Committee appropriated $2.4 billion to the Securities and Exchange Commission (SEC), $194 million more than the fiscal year 2023 enacted...
- [Digital World SPAC Settles SEC Charges for Material Misrepresentations to Investors](https://www.ecclestonlaw.com/eccleston-law-blog/digital-world-spac-settles-sec-charges-for-material-misrepresentations-to-investors): Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), settled fraud charges for making material misrepresentations in...
- [SEC Proposes Enhanced Examination Resources For RIAs in Light of Industry Growth](https://www.ecclestonlaw.com/eccleston-law-blog/sec-proposes-enhanced-examination-resources-for-rias-in-light-of-industry-growth): The Securities and Exchange Commission's (SEC) Chair, Gary Gensler, has presented a solution to address the challenge of overseeing the growing number of r...
- [Potential Downturn Predicted for RIA Mergers and Acquisitions](https://www.ecclestonlaw.com/eccleston-law-blog/potential-downturn-predicted-for-ria-mergers-and-acquisitions): According to DeVoe & Company's second-quarter RIA Deal Book report, RIA mergers and acquisitions (M&A) are experiencing a decline.
- [FINRA Suspends Former LPL Advisor for Unreported Moonlighting as College Professor and Hedge Fund Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-lpl-advisor-for-unreported-moonlighting-as-college-professor-and-hedge-fund-advisor): The Financial Industry Regulatory Authority (FINRA) finalized a letter of settlement, formally known as an Acceptance, Waiver and Consent (“AWC&rdquo...
- [PIABA Urges SEC to Limit RIAs' Mandatory Arbitration and Mandate Disclosure of Client Claims](https://www.ecclestonlaw.com/eccleston-law-blog/piaba-urges-sec-to-limit-rias-mandatory-arbitration-and-mandate-disclosure-of-client-claims): The Public Investors Advocate Bar Association (PIABA), a trade group representing plaintiffs' lawyers, has urged the Securities and Exchange Commission (SE...
- [FINRA Fines LPL Over Failure to Detect Harmful Wire Transfers to Clients](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-lpl-over-failure-to-detect-harmful-wire-transfers-to-clients): The Financial Industry Regulatory Authority Inc. (FINRA) imposed a $3 million fine on LPL Financial for failing to oversee two financial advisors adequatel...
- [SEC Proposes Reforms for Internet-Exclusive Investment Advisers](https://www.ecclestonlaw.com/eccleston-law-blog/sec-proposes-reforms-for-internetexclusive-investment-advisers): The Securities and Exchange Commission (SEC) introduced proposed amendments to the rule that allows specific investment advisers offering their services on...
- [SEC Accuses Florida Resident of Running $35 Million Ponzi Scheme Targeting Church Members](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-florida-resident-of-running-35-million-ponzi-scheme-targeting-church-members): The Securities and Exchange Commission (SEC) has charged Brent Seaman and several entities under his management with conducting fraudulent activities.
- [Former J.P. Morgan Advisor Receives Additional Sanctions For Misleading Testimony](https://www.ecclestonlaw.com/eccleston-law-blog/former-jp-morgan-advisor-receives-additional-sanctions-for-misleading-testimony): Last year, a J.P. Morgan advisor, Howard S. Rothman, was required to pay $100,000 due to alleged perjury during a contentious arbitration with his former p...
- [DOJ Accuses Advisors of $5M Fraud Amid Lawsuit Against Trump Attorney](https://www.ecclestonlaw.com/eccleston-law-blog/doj-accuses-advisors-of-5m-fraud-amid-lawsuit-against-trump-attorney): The Justice Department has charged investment advisor brothers Adam and Daniel Kaplan with wire and investment fraud and money laundering.
- [Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration](https://www.ecclestonlaw.com/eccleston-law-blog/judge-directs-rias-poaching-suit-against-cambridge-to-arbitration): A Virginia federal judge recently dismissed a complaint filed by a registered investment advisor (RIA), Colonial River Wealth Advisors, against broker-deal...
- [SEC Finds Deficiencies in Broker-Dealers' Anti-Money Laundering Policies](https://www.ecclestonlaw.com/eccleston-law-blog/sec-finds-deficiencies-in-brokerdealers-antimoney-laundering-policies): The Securities and Exchange Commission (SEC) has issued an alert to broker-dealers regarding deficiencies found in their examinations related to crucial an...
- [Fifth Circuit Upholds Conviction of UDF Executives in Securities Fraud Case](https://www.ecclestonlaw.com/eccleston-law-blog/fifth-circuit-upholds-conviction-of-udf-executives-in-securities-fraud-case): In a recent ruling, the Fifth Circuit upheld the conviction of United Development Funding (UDF) executives on multiple charges of wire and securities fraud...
- [Bankruptcy Court Approves DWG's Reorganization Plan](https://www.ecclestonlaw.com/eccleston-law-blog/bankruptcy-court-approves-dwgs-reorganization-plan): The Bankruptcy Court for the Southern District of Texas has approved GWG Holdings Inc.'s reorganization plan.
- [FINRA Penalizes Former LPL Advisor for Falsified Signatures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-former-lpl-advisor-for-falsified-signatures): A former LPL Financial advisor, Bradley T. Wastler, has received a ten-month suspension and a $7,500 fine from the Financial Industry Regulatory Authority ...
- [Massachusetts Secretary of the Commonwealth Launches Investigation Into Advisors' Use of AI](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-secretary-of-the-commonwealth-launches-investigation-into-advisors-use-of-ai): Secretary of the Commonwealth, William Galvin, has announced an inquiry by his securities division to investigate the utilization of AI by companies in the...
- [FINRA Bans Former Raymond James Advisor for Attempting to Deceive Investigators](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bans-former-raymond-james-advisor-for-attempting-to-deceive-investigators): The Financial Industry Regulatory Authority (FINRA) has barred a former Raymond James advisor.
- [SEC Charges Fund Administrator Over Ignoring Warning Signs](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-fund-administrator-over-ignoring-warning-signs): The Securities and Exchange Commission (SEC) has settled charges against Theorem Fund Services LLC (TFS) for failing to respond to red flags relating to th...
- [SEC Takes Action Against 11 Wall Street Firms for Record-keeping Violations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-takes-action-against-11-wall-street-firms-for-recordkeeping-violations): The Securities and Exchange Commission (SEC) has charged 11 firms with significant and longstanding failures to uphold electronic communication preservatio...
- [SEC Uncovers](https://www.ecclestonlaw.com/eccleston-law-blog/sec-uncovers-pervasive-texting-issues-at-wedbush-wealth-management): Wall Street regulators recently imposed hundreds of millions of dollars in penalties on broker-dealers. The penalties resulted from their failure to detect...
- [FINRA Announces Enhancements to Advisor Expungement Process](https://www.ecclestonlaw.com/eccleston-law-blog/finra-announces-enhancements-to-advisor-expungement-process): The Financial Industry Regulatory Authority (FINRA) has adopted several reforms to tighten the expungement process and has set an implementation date of Oc...
- [Damage Claims Exceed $24 Million for Stifel Advisor's Note Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/damage-claims-exceed-24-million-for-stifel-advisors-note-strategy): Complaints against an advisor from Miami-based Stifel Nicolaus & Co. are increasing due to a structured note strategy, and additional million-dollar cl...
- [Goldman Launches Initiative to Address Gaps Following Fed Oversight](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-launches-initiative-to-address-gaps-following-fed-oversight): Goldman Sachs Group Inc. is experiencing a hiring spree due to a new wave of regulatory scrutiny in the US.
- [SEC Takes Action Against Advisor for Operating with Revoked Registration](https://www.ecclestonlaw.com/eccleston-law-blog/sec-takes-action-against-advisor-for-operating-with-revoked-registration): The Securities and Exchange Commission (SEC) has barred an investment adviser representative from conducting business.
- [SEC Accuses Investment Fund of Engaging in Deceptive Practices](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-investment-fund-of-engaging-in-deceptive-practices): The Securities and Exchange Commission (SEC) has brought settled charges against Summitcrest Capital Inc. and its principals, Johnny Tseng and Kevin Zhang,...
- [Weighing the Upsides and Downsides of Alternative Investments](https://www.ecclestonlaw.com/eccleston-law-blog/weighing-the-upsides-and-downsides-of-alternative-investments): In its 2023 Financial Advisor Survey, iCapital surveyed 400 U.S. registered financial professionals. Those professionals, who either use or are considering...
- [Investment Advisors Brace for Influx of New Rules and Regulatory Changes](https://www.ecclestonlaw.com/eccleston-law-blog/investment-advisors-brace-for-influx-of-new-rules-and-regulatory-changes): The Securities and Exchange Commission's (SEC) announcement in May 2021 about enforcing a landmark marketing rule, approved by the agency the previous Dece...
- [Class-Action Lawsuit Filed Against Schwab and TD Ameritrade](https://www.ecclestonlaw.com/eccleston-law-blog/classaction-lawsuit-filed-against-schwab-and-td-ameritrade): Charles Schwab and TD Ameritrade face a lawsuit for a data breach connected to the ongoing cyberattack targeting the MOVEit file-transfer software.
- [Wells Fargo Resolves SEC Dispute Over Advisory Fees](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-resolves-sec-dispute-over-advisory-fees): The Securities and Exchange Commission (SEC) announced charges against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (co...
- [Pennsylvania Financial Advisor Terminated Following Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/pennsylvania-financial-advisor-terminated-following-lawsuit): LPL Financial has terminated John A. Dougherty following his being sued for allegedly over-leveraging an investor's account using a $5 million securities-b...
- [Morgan Stanley Ordered to Pay $1.8 Million to Investor](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-ordered-to-pay-18-million-to-investor): In a recent decision, three arbitrators from the Financial Industry Regulatory Authority (FINRA) ordered Morgan Stanley to pay $1.8 million in damages to a...
- [Unregistered Broker Faces SEC Charges for Illegally Selling Securities](https://www.ecclestonlaw.com/eccleston-law-blog/unregistered-broker-faces-sec-charges-for-illegally-selling-securities): The Securities and Exchange Commission (SEC) has charged Blake Cathey with unlawfully selling securities of Florida-based Accanito Equity LLC, Accanito Equ...
- [Massachusetts Supreme Court Affirms Fiduciary Duty Rule for Brokers](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-supreme-court-affirms-fiduciary-duty-rule-for-brokers): The Massachusetts Supreme Judicial Court ruled that William Galvin, the state's top securities regulator, acted within his authority in September 2020 when...
- [SEC Introduces Stricter Fee Disclosure Rules for Hedge Funds and Private Equity Firms](https://www.ecclestonlaw.com/eccleston-law-blog/sec-introduces-stricter-fee-disclosure-rules-for-hedge-funds-and-private-equity-firms): The US Securities and Exchange Commission (SEC) has adopted new rules that will compel hedge funds and private equity firms to provide more transparent inf...
- [SEC's Examination of RIAs Focuses on Leadership Changes](https://www.ecclestonlaw.com/eccleston-law-blog/secs-examination-of-rias-focuses-on-leadership-changes): The Securities and Exchange Commission’s Division of Examinations issued a risk alert announcing its new focus.
- [Goldman Sachs and JPMorgan Join $500 Million Lawsuit Settlement](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-sachs-and-jpmorgan-join-500-million-lawsuit-settlement): Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., and UBS AG have agreed to settle an antitrust class action by pension funds over their ...
- [Troubles at an Arizona Park Funded by Municipal Bonds Are a Warning to Investors](https://www.ecclestonlaw.com/eccleston-law-blog/troubles-at-an-arizona-park-funded-by-municipal-bonds-are-a-warning-to-investors): The recent financial troubles at a sports arena in Mesa, Arizona, demonstrate that not all municipal bonds are equally safe.
- [Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer](https://www.ecclestonlaw.com/eccleston-law-blog/reg-bi-violations-lead-to-finras-fine-on-another-brokerdealer): The Financial Industry Regulatory Authority (FINRA) has fined and censured broker-dealer Network 1 Financial Securities and its chief compliance officer fo...
- [SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million](https://www.ecclestonlaw.com/eccleston-law-blog/sec-orders-legendary-capital-founder-and-reit-advisors-to-pay-nearly-5-million): Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities an...
- [SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-private-equity-firm-over-fee-disclosure-failures-to-affiliate): The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset inve...
- [State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program](https://www.ecclestonlaw.com/eccleston-law-blog/state-regulators-maintain-opposition-to-finras-remote-supervision-pilot-program): The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Fina...
- [Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum](https://www.ecclestonlaw.com/eccleston-law-blog/legal-challenges-over-moneyfornothing-payments-gain-momentum): Apollo Global Management and Carlyle Group, two major private equity firms, now face investor lawsuits regarding payments made to insiders without apparent...
- [Looming Real Estate Crisis Poses Risk to U.S. Banking Sector](https://www.ecclestonlaw.com/eccleston-law-blog/looming-real-estate-crisis-poses-risk-to-us-banking-sector): With the current downturn in the commercial real estate market, trillions of dollars in loans and investments pose a looming threat to both the banking ind...
- [Former Creative Planning Staff File Lawsuit Challenging Non-Compete Agreements](https://www.ecclestonlaw.com/eccleston-law-blog/former-creative-planning-staff-file-lawsuit-challenging-noncompete-agreements): Four former employees of Creative Planning have filed a lawsuit, alleging that their non-compete agreements with the firm unlawfully restrict their ability...
- [Former LPL Affiliate Compliance Chief Suspended by FINRA for Unauthorized $1 Million Transfer](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-affiliate-compliance-chief-suspended-by-finra-for-unauthorized-1-million-transfer): The Financial Industry Regulatory Authority (FINRA) fined and suspended Jeffrey K. Kirkpatrick, a former chief compliance officer at a registered investmen...
- [Traders Engage in Boom-or-Bust Options in Stock Market](https://www.ecclestonlaw.com/eccleston-law-blog/traders-engage-in-boomorbust-options-in-stock-market): The stock options market is experiencing a surge in activity, as many individual investors are eagerly engaging in trades that expire within hours or days ...
- [FINRA Arbitrators Rule Expelled Brokerage Must Pay $3.2 Million for Excessive Trading](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitrators-rule-expelled-brokerage-must-pay-32-million-for-excessive-trading): Financial Industry Regulatory Authority (FINRA) arbitrators issued an award holding Salomon Whitney Financial (SW Financial) accountable for excessive, uns...
- [FINRA's Overhaul of Arbitrator Selection System Moves Forward](https://www.ecclestonlaw.com/eccleston-law-blog/finras-overhaul-of-arbitrator-selection-system-moves-forward): FINRA has received approval to revamp its procedures for removing arbitrators from the three-member panels responsible for arbitration matters involving cl...
- [Former NFL Player Turned Morgan Stanley Advisor Suspended by FINRA](https://www.ecclestonlaw.com/eccleston-law-blog/former-nfl-player-turned-morgan-stanley-advisor-suspended-by-finra): The Financial Industry Regulatory Authority (FINRA) has imposed penalties on William D. Ard, a former professional football player turned advisor.
- [SEC Accuses Californian of Orchestrating $11.8 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-californian-of-orchestrating-118-million-ponzi-scheme): The Securities and Exchange Commission (SEC) has charged Tilila Walker Sumchai of Richmond, California, with defrauding more than 1,000 retail investors, r...
- [SEC Charges AIM for Violating Fiduciary Duties](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-aim-for-violating-fiduciary-duties): The Securities and Exchange Commission (SEC) announced that American Infrastructure Funds LLC (AIM), a registered investment adviser, has agreed to a settl...
- [Deutsche Asset Management Unit Pays $25 Million to Settle "Greenwashing" and AML Violations](https://www.ecclestonlaw.com/eccleston-law-blog/deutsche-asset-management-unit-pays-25-million-to-settle-greenwashing-and-aml-violations): Deutsche Bank AG's DWS asset management unit has agreed to a $25 million settlement with the Securities and Exchange Commission (SEC) over two separate iss...
- [Goldman Sachs to Pay 55 Million Due to Pandemicera Audio Recording Failures](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-sachs-to-pay-55-million-due-to-pandemicera-audio-recording-failures)
- [Former Florida-Based Morgan Stanley Advisor Accepts Industry Ban Amid Fraud Probe](https://www.ecclestonlaw.com/eccleston-law-blog/former-floridabased-morgan-stanley-advisor-accepts-industry-ban-amid-fraud-probe): A former Morgan Stanley advisor in Fort Lauderdale, Florida, with 23 years of experience, opted for an industry ban instead of cooperating with a Financial...
- [Private Equity Firms Seek $750 Million in Lawsuit Against Morgan Stanley for Alleged Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/private-equity-firms-seek-750-million-in-lawsuit-against-morgan-stanley-for-alleged-fraud): Private equity firms Certares Management LLC and Knighthead Capital Management LLC have filed a lawsuit against Morgan Stanley, seeking at least $750 milli...
- [SEC Intensifies WhatsApp Probe](https://www.ecclestonlaw.com/eccleston-law-blog/sec-intensifies-whatsapp-probe): The Securities and Exchange Commission (SEC) has heightened its investigation into Wall Street's utilization of private messaging applications by gathering...
- [SEC Files Charges Against Bruderman Asset Management and Principal for Concealing Misuse of Investment Funds](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-charges-against-bruderman-asset-management-and-principal-for-concealing-misuse-of-investment-funds): The Securities and Exchange Commission (SEC) has announced that Bruderman Asset Management LLC (BAM), based in New York, and its principal, Matthew J. Brud...
- [Massachusetts RIA Agrees to Settlement with SEC Over Marketing Violations](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-ria-agrees-to-settlement-with-sec-over-marketing-violations): Massachusetts-based RIA Wellesley Asset Management (WAM) will pay a $1 million civil penalty to resolve allegations of using hypothetical performance infor...
- [FINRA Extends Remote Inspection Provision Through 2024](https://www.ecclestonlaw.com/eccleston-law-blog/finra-extends-remote-inspection-provision-through-2024): The Financial Industry Regulatory Authority (FINRA) has informed the Securities and Exchange Commission (SEC) of its intention to continue a temporary prog...
- [FINRA Takes Steps to Restrict Non-Lawyer Representation in Investor Arbitrations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-takes-steps-to-restrict-nonlawyer-representation-in-investor-arbitrations): The Financial Industry Regulatory Authority (FINRA) has proposed a new rule prohibiting individuals who are not lawyers from receiving compensation from re...
- [Goldman's Aggressive Legal Tactics to Enforce Non-Solicitation Agreements Before Creative Planning Sale](https://www.ecclestonlaw.com/eccleston-law-blog/goldmans-aggressive-legal-tactics-to-enforce-nonsolicitation-agreements-before-creative-planning-sale): Two former Goldman Sachs Personal Financial Management advisors based in California have filed a lawsuit challenging the enforceability of their employment...
- [Exploring Account Fees and Bonuses: Highlights from Cetera and Avantax Webinar](https://www.ecclestonlaw.com/eccleston-law-blog/exploring-account-fees-and-bonuses-highlights-from-cetera-and-avantax-webinar): Cetera Financial Holdings senior management hosted an online seminar with Avantax Inc.'s financial advisors to address concerns raised by 3,100 advisors fo...
- [Fidelity Hit with $1.65 Million Fine Over Options Trading Standards](https://www.ecclestonlaw.com/eccleston-law-blog/fidelity-hit-with-165-million-fine-over-options-trading-standards): Massachusetts Secretary of the Commonwealth, William F. Galvin, has imposed a $750,000 fine on Fidelity Brokerage Services for their alleged past practice ...
- [SEC Imposes Fines on Baird and Interactive Brokers in Ongoing Texting Probe](https://www.ecclestonlaw.com/eccleston-law-blog/sec-imposes-fines-on-baird-and-interactive-brokers-in-ongoing-texting-probe): Several Wall Street firms, including prominent brokerages like Interactive Brokers Group Inc. and Robert W. Baird & Co. Inc., have collectively agreed ...
- [Former Steward Advisors Sue Firm as They Depart for LPL](https://www.ecclestonlaw.com/eccleston-law-blog/former-steward-advisors-sue-firm-as-they-depart-for-lpl): Experienced brokers have witnessed a significant increase in recruiting offers in recent years. However, a lawsuit filed against Steward Partners Global Ad...
- [SEC Examination Priorities in 2024](https://www.ecclestonlaw.com/eccleston-law-blog/sec-examination-priorities-in-2024): The Securities and Exchange Commission (SEC) has issued its 2024 examination priorities to inform investors and registrants about the focal areas, key risk...
- [Connecticut Investment Advisor Admits Guilt in $2.7M Cherry-picking Scam](https://www.ecclestonlaw.com/eccleston-law-blog/connecticut-investment-advisor-admits-guilt-in-27m-cherrypicking-scam): Jonathan Vincent Glenn, the CEO of Glenn Capital in Greenwich, Connecticut, pleaded guilty to federal securities fraud charges, facing a potential 25-year ...
- [Former Morgan Stanley Advisor in North Carolina Faces Suspension and Fine for Unauthorized Trading](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-in-north-carolina-faces-suspension-and-fine-for-unauthorized-trading): The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former Morgan Stanley advisor in Raleigh, North Carolina.
- [Morgan Stanley's Strategic Shift](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanleys-strategic-shift--elevating-grid-hurdles-trimming-compensation-for-small-households): Morgan Stanley Wealth Management has informed its approximately 15,000 advisors that, to maintain their current payout in the upcoming year, many will need...
- [Legal Challenge to FINRA's Constitutionality Dismissed by D.C. Court](https://www.ecclestonlaw.com/eccleston-law-blog/legal-challenge-to-finras-constitutionality-dismissed-by-dc-court-): An advisor who faced FINRA disciplinary action attempted to stop the proceedings in a D.C. federal court.
- [Former Morgan Stanley Advisor Barred by SEC for Misappropriating Client Funds](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-barred-by-sec-for-misappropriating-client-funds): The Securities and Exchange Commission (SEC) issued an order barring Ronald E. Filoramo, a former Morgan Stanley advisor.
- [Record $61 Million Settlement Reached in GE's 401(k) Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/record-61-million-settlement-reached-in-ges-401k-lawsuit): General Electric has reached a $61 million settlement in a protracted lawsuit concerning its 401(k) plan, marking one of the largest settlements in ERISA l...
- [Former Advisor Sanctioned for GPB Capital Sales](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-sanctioned-for-gpb-capital-sales): The Financial Industry Regulatory Authority (FINRA) has fined and suspended Arni J. Diamond for improperly selling limited partnership units in GPB Automot...
- [Silver-Coin IRA Seller Resolves $68 Million Fraud Allegations with CFTC](https://www.ecclestonlaw.com/eccleston-law-blog/silvercoin-ira-seller-resolves-68-million-fraud-allegations-with-cftc): Safeguard Metals and its sole owner, Jeffrey Ikahn, reportedly defrauded customers to whom it promoted gold IRAs, resulting in alleged losses of $68&n...
- [High Net Worth Investors Surge in Pre-IPO Securities Market](https://www.ecclestonlaw.com/eccleston-law-blog/high-net-worth-investors-surge-in-preipo-securities-market): High Net Worth Investors (HNWIs) have recently emerged as the dominant buyers in this market segment.
- [BREIT's September Performance Records Negative Total Return](https://www.ecclestonlaw.com/eccleston-law-blog/breits-september-performance-records-negative-total-return): Blackstone Real Estate Income Trust (“BREIT”), sponsored by The Blackstone Group, has updated the net asset values (NAV).
- [Willis Towers Watson PLC Files Lawsuit Against Alliant, Alleging Employee Poaching](https://www.ecclestonlaw.com/eccleston-law-blog/willis-towers-watson-plc-files-lawsuit-against-alliant-alleging-employee-poaching): Willis Towers Watson PLC has filed a lawsuit against Alliant Insurance Services Inc. in a federal district court in Richmond, Virginia.
- [SEC Focuses on Increased Scrutiny for Hybrid Firms in 2024 Examination Priorities](https://www.ecclestonlaw.com/eccleston-law-blog/sec-focuses-on-increased-scrutiny-for-hybrid-firms-in-2024-examination-priorities): As the ranks of hybrid advisor-brokers, registered with both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (...
- [New DOL Fiduciary Rule Takes Aim at Loopholes in Retirement Savings](https://www.ecclestonlaw.com/eccleston-law-blog/new-dol-fiduciary-rule-takes-aim-at-loopholes-in-retirement-savings): The Department of Labor (DOL) unveiled its latest retirement security rule, which involves altering the definition of an investment advice fiduciary under ...
- [SEC Charges Prophecy Asset Management's President/CCO with Multi-Year Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-prophecy-asset-managements-presidentcco-with-multiyear-fraud-scheme): The Securities and Exchange Commission (SEC) has filed charges against John Hughes, who served as the president and chief compliance officer of registered ...
- [The Classic 60-40 Investment Strategy Faces its Most Challenging Year in Decades](https://www.ecclestonlaw.com/eccleston-law-blog/the-classic-6040-investment-strategy-faces-its-most-challenging-year-in-decades): Millions of Americans are experiencing disruption in their retirement planning due to rising interest rates and inflation.
- [SEC Charges Former Advisor with $2 Million Fraudulent Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-advisor-with-2-million-fraudulent-scheme): The Securities and Exchange Commission (SEC) has announced the filing of charges against an investment adviser based in Santa Maria, California.
- [FINRA Alleges $2 Million in Client Losses and $2 Million in Commissions Due to Advisor's Churning](https://www.ecclestonlaw.com/eccleston-law-blog/finra-alleges-2-million-in-client-losses-and-2-million-in-commissions-due-to-advisors-churning): According to a Financial Industry Regulatory Authority (FINRA) complaint, Stewart
- [Wells Fargo Under SEC Scrutiny for Cash Sweep Programs](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-under-sec-scrutiny-for-cash-sweep-programs): The Securities and Exchange Commission (SEC) is investigating Wells Fargo & Company over cash sweep options provided to investment advisory clients.
- [Arbitration Mandated for Former Morgan Stanley Advisors' Class Claim on Deferred Compensation](https://www.ecclestonlaw.com/eccleston-law-blog/arbitration-mandated-for-former-morgan-stanley-advisors-class-claim-on-deferred-compensation): A federal judge in Manhattan has granted Morgan Stanley’s request to transfer a potential class action lawsuit to arbitration.
- [FINRA Reveals Baird's $500K Shortfall in Mutual Fund Rebates to Clients](https://www.ecclestonlaw.com/eccleston-law-blog/finra-reveals-bairds-500k-shortfall-in-mutual-fund-rebates-to-clients): Robert W. Baird & Co. has reached a settlement with the Financial Industry Regulatory Authority (FINRA) wherein they accepted a censure and committed t...
- [SEC Investigation into JPMorgan's Advisory Account Aggregation](https://www.ecclestonlaw.com/eccleston-law-blog/sec-investigation-into-jpmorgans-advisory-account-aggregation): The Securities and Exchange Commission (SEC) has launched two investigations that may affect the interests of advisors and clients of JPMorgan Chase & ...
- [FINRA Suspends Former LPL Advisor for Signing on Partner's Behalf](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-lpl-advisor-for-signing-on-partners-behalf): In a recent message underscoring the significance of ethical conduct, the Financial Industry Regulatory Authority (FINRA) has imposed a one-month suspensio...
- [Attorneys Monitor Shareholder Stock Drop Lawsuits Amid IPO Setbacks](https://www.ecclestonlaw.com/eccleston-law-blog/attorneys-monitor-shareholder-stock-drop-lawsuits-amid-ipo-setbacks): Lawyers anticipate a surge in shareholder lawsuits following a series of setbacks in the US IPO market.
- [Real Estate Firm Funded by Independent Broker-Dealers Faces Financial Collapse](https://www.ecclestonlaw.com/eccleston-law-blog/real-estate-firm-funded-by-independent-brokerdealers-faces-financial-collapse): In late September, iCap Enterprises Inc., a real estate investor and manager, filed for bankruptcy after raising $245 million from investors through indepe...
- [RIA's Asset Growth Still Trails Behind Wirehouse Counterparts](https://www.ecclestonlaw.com/eccleston-law-blog/rias-asset-growth-still-trails-behind-wirehouse-counterparts): Registered Investment Advisors (RIAs) are experiencing a faster growth rate in numbers compared to national brokerage firms, as indicated by recent data fr...
- [Former Advisor Receives Decade Long Prison Sentence for Fraudulent Activities](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-receives-decade-long-prison-sentence-for-fraudulent-activities): Former First American Securities Inc. president Thomas Brenner has been sentenced to over ten years in prison by a federal judge in Ohio.
- [TD Bank Brokerage Unit Settles FINRA Case Alleging Oversight Gaps in Email Monitoring](https://www.ecclestonlaw.com/eccleston-law-blog/td-bank-brokerage-unit-settles-finra-case-alleging-oversight-gaps-in-email-monitoring): TD Private Client Wealth (TDPCW), a broker-dealer subsidiary of TD Bank, has agreed to pay a $600,000 fine and be censured following an investigation by th...
- [CFP Board Advances Measures for Heightened Accountability and Transparent Public Sanctions](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-advances-measures-for-heightened-accountability-and-transparent-public-sanctions-): The CFP Board has revealed that it will release the Disciplinary and Ethics Commission (DEC) orders imposing sanctions alongside the public sanction news r...
- [Goldman Sachs Profit Drops by 33%](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-sachs-profit-drops-by-33): Goldman Sachs Group Inc. experienced its second consecutive quarter of real estate writedowns and a continued dealmaking slump, reducing its profitability ...
- [Edelman Financial Files Lawsuit Against Mariner Alleging Client Poaching and Defamation](https://www.ecclestonlaw.com/eccleston-law-blog/edelman-financial-files-lawsuit-against-mariner-alleging-client-poaching-and-defamation): Edelman Financial Engines initiated legal action against Mariner Wealth Advisors, alleging that the Registered Investment Advisor (RIA) engaged in the wron...
- [Mariner Wealth Advisors Request Temporary Halt to Edelman's Poaching and Defamation Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/mariner-wealth-advisors-request-temporary-halt-to-edelmans-poaching-and-defamation-lawsuit): Mariner Wealth Advisors has sought a court order to temporarily halt a lawsuit filed by Edelman Financial Engines, alleging that Mariner poached advisors a...
- [SEC Reports Unprecedented Enforcement Success in 2023](https://www.ecclestonlaw.com/eccleston-law-blog/sec-reports-unprecedented-enforcement-success-in-2023): In its report on fiscal year 2023, the Securities and Exchange Commission (SEC) revealed a substantial increase in its enforcement efforts to protect inves...
- [SEC Targets Fund Adviser Jonathan Larmore in $35 Million Case](https://www.ecclestonlaw.com/eccleston-law-blog/sec-targets-fund-adviser-jonathan-larmore-in-35-million-case): The Securities and Exchange Commission (SEC) has filed fraud charges against ArciTerra Companies LLC, a real estate investment firm based in Phoenix, and i...
- [Cybercrime Vulnerability Among Older Population, $3.1 Billion Loss in 2022](https://www.ecclestonlaw.com/eccleston-law-blog/cybercrime-vulnerability-among-older-population-31-billion-loss-in-2022): A recent report highlights the vulnerability of the older population in the United States to cybercrimes, leading to a staggering loss of $3.1 billion in 2...
- [Industry Advocates Criticize NASAA's Proposed Amendments to Business Practices Rule as Overreach](https://www.ecclestonlaw.com/eccleston-law-blog/industry-advocates-criticize-nasaas-proposed-amendments-to-business-practices-rule-as-overreach): The North American Securities Administrators Association (NASAA) is facing criticism from the Institute for Portfolio Alternatives (IPA) and the Financial ...
- [Former Morgan Stanley Advisor Agrees to Settle with FINRA for Unapproved Investments](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-agrees-to-settle-with-finra-for-unapproved-investments): Former Morgan Stanley advisor Sara Y. Qazi has agreed to a $15,000 fine and a three-month suspension after the Financial Industry Regulatory Authority...
- [SEC Unmasks Connecticut-Based Adviser's $5.9 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-unmasks-connecticutbased-advisers-59-million-fraud-scheme): The Securities and Exchange Commission (SEC) has unveiled a case of alleged fraud involving Connecticut-based unregistered investment adviser John A. Masan...
- [Morgan Stanley Agrees to Fine for Failure to Provide Fund Disclosures](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-agrees-to-fine-for-failure-to-provide-fund-disclosures): Morgan Stanley has agreed to a censure and a $400,000 fine following a Financial Industry Regulatory Authority (FINRA) investigation, which revealed the fa...
- [SEC Imposes Fines on Advisors for Regulation best Interest (Reg BI) Violations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-imposes-fines-on-advisors-for-regulation-best-interest-reg-bi-violations): The Securities and Exchange Commission (SEC) has sanctioned two Laidlaw advisors, Richard Michalski and Michael Murray, for violating Regulation Best Inter...
- [Alternative Liquidity Capital Proposes Tender Offer for Shares of Closed Wildermuth Fund](https://www.ecclestonlaw.com/eccleston-law-blog/alternative-liquidity-capital-proposes-tender-offer-for-shares-of-closed-wildermuth-fund): Liquidity Index LP, an affiliated Delaware limited partnership of Alternative Liquidity Capital, has offered to acquire up to 238,000 Class I shares of The...
- [SEC Approves Eased Oversight Guidelines for Remote Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-approves-eased-oversight-guidelines-for-remote-advisors): Advisors opting for home offices received a nod from the Securities and Exchange Commission (SEC) as it greenlit rules permitting remote inspections of adv...
- [JPMorgan Faces Allegations in $50 Million Wealth Loss Case by 78 Year Old Investor with Dementia](https://www.ecclestonlaw.com/eccleston-law-blog/jpmorgan-faces-allegations-in-50-million-wealth-loss-case-by-78-year-old-investor-with-dementia): A successful entrepreneur who had entrusted JPMorgan Chase & Co. with his substantial wealth, once valued at $50 million and now valued at $1.5 million...
- [Regulatory Concerns Mount as Wells Fargo Faces Criticism for Insufficient Oversight of Customer Crimes](https://www.ecclestonlaw.com/eccleston-law-blog/regulatory-concerns-mount-as-wells-fargo-faces-criticism-for-insufficient-oversight-of-customer-crimes): Wells Fargo is under regulatory scrutiny. According to the Wall Street Journal, regulators have directed the bank to enhance its capabilities in detecting ...
- [SEC Secures Receiver for GPB Capital Holdings Following Alleged Deceptive Practices](https://www.ecclestonlaw.com/eccleston-law-blog/sec-secures-receiver-for-gpb-capital-holdings-following-alleged-deceptive-practices): The U.S. District Court for the Eastern District of New York approved the SEC's request to transition the ongoing monitorship over GPB Capital Holdings, LL...
- [Goldman Sachs Reports Garden Leave Violations on CRDs of Former PFM Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-sachs-reports-garden-leave-violations-on-crds-of-former-pfm-advisors): Goldman Sachs has introduced further challenges for former advisors of its Personal Financial Management (PFM) unit who departed for competitors before the...
- [SEC Awards Over $28 Million to Whistleblowers](https://www.ecclestonlaw.com/eccleston-law-blog/sec-awards-over-28-million-to-whistleblowers): The Securities and Exchange Commission (SEC) has granted awards totaling more than $28 million to seven individuals who played a pivotal role in a successf...
- [WestPark Capital Representative Sanctioned for Unauthorized Private Transactions](https://www.ecclestonlaw.com/eccleston-law-blog/westpark-capital-representative-sanctioned-for-unauthorized-private-transactions): The Financial Industry Regulatory Authority (FINRA) has imposed a fine and suspension on Mitchell S. Morrison for engaging in private securities transactio...
- [Securities Lending Oversight Lapses Lead to FINRA Sanctions](https://www.ecclestonlaw.com/eccleston-law-blog/securities-lending-oversight-lapses-lead-to-finra-sanctions): The Financial Industry Regulatory Authority Inc. (FINRA) recently concluded settlements totaling $2.6 million in fines and restitution with four mobile app...
- [LPL Financial to Pay $6 Million to Settle FINRA Charges Over Regulation Best Interest Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-to-pay-6-million-to-settle-finra-charges-over-regulation-best-interest-lapses): LPL Financial has agreed to pay over $6 million to settle charges by FINRA, alleging violations of Regulation Best Interest in recommending trades involvin...
- [Financial Advisor in Maryland Pleads Guilty to Defrauding Elderly Client](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisor-in-maryland-pleads-guilty-to-defrauding-elderly-client): Financial advisor Jeffrey A. Blizzard has pleaded guilty to bank fraud, facing a potential 30-year federal prison sentence.
- [Salt Lake City Wells Fargo Advisor Accepts FINRA Bar Following SEC Settlement](https://www.ecclestonlaw.com/eccleston-law-blog/salt-lake-city-wells-fargo-advisor-accepts-finra-bar-following-sec-settlement): Louis P. Goff, a former Wells Fargo Advisors broker in Salt Lake City, Utah, has agreed to a bar from the brokerage industry imposed by the Financial Indus...
- [SEC Greenlights Spot Bitcoin ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/sec-greenlights-spot-bitcoin-etfs): In a groundbreaking move, U.S. regulators have approved the first exchange-traded funds (ETFs) directly investing in Bitcoin.
- [Merrill Edge Faces Class Action Lawsuit Over Interest Rates](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-edge-faces-class-action-lawsuit-over-interest-rates): Merrill Edge, the online brokerage and advisory arm of Merrill Lynch, is facing a class action lawsuit.
- [FINRA Bars New Jersey Advisor Over Alleged Securities Violations and Refusal to Testify](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-new-jersey-advisor-over-alleged-securities-violations-and-refusal-to-testify): The Financial Industry Regulatory Authority (FINRA) has barred New Jersey advisor Anthony J. Cantone for refusing to provide testimony in an investigation ...
- [SEC Charges Investment Advisor Justin Murphy for $3.4 Million Investor Funds Misappropriation](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-investment-advisor-justin-murphy-for-34-million-investor-funds-misappropriation): The Securities and Exchange Commission (SEC) has charged Justin Murphy and his investment management firm, Mara Investments, LLC, for fraudulent misappropr...
- [JPMorgan Pursues Legal Action Against Advisor Who Moved to Wells Fargo](https://www.ecclestonlaw.com/eccleston-law-blog/jpmorgan-pursues-legal-action-against-advisor-who-moved-to-wells-fargo): JPMorgan Chase & Co. has initiated legal action, seeking a temporary restraining order against former employee Jeffry Neal Carel.
- [Former JPMorgan Advisor Agrees to Injunction Amid Solicitation Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/former-jpmorgan-advisor-agrees-to-injunction-amid-solicitation-allegations): A former JPMorgan advisor sued last week, in connection with his transition to an independent practice with Kestra Private Wealth Services, has agreed to a...
- [Financial Advisors Set to Boost Client Allocations to Alternative Assets in 2024](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisors-set-to-boost-client-allocations-to-alternative-assets-in-2024): A recent independent survey conducted by CAIS and Mercer reveals that 62 percent of financial advisors currently allocate between 6 percent and 25 percent ...
- [SEC Raises Concerns Over Arbitration Clauses in Investment Advisory Agreements](https://www.ecclestonlaw.com/eccleston-law-blog/sec-raises-concerns-over-arbitration-clauses-in-investment-advisory-agreements): A cautionary note has been sounded by an investor advocacy group operating within the Securities and Exchange Commission (SEC), signaling potential fiducia...
- [FINRA Fines and Suspends Merrill Lynch Advisor Over Unauthorized Role as Estate Executor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-and-suspends-merrill-lynch-advisor-over-unauthorized-role-as-estate-executor): Frederick R. Watson, a veteran advisor with 37 years of experience at Merrill Lynch, has been fined $10,000 and suspended for four months by the Financial ...
- [Financial Advisor Sentenced to 8 Years for Defrauding Amish Investors](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisor-sentenced-to-8-years-for-defrauding-amish-investors): Earl D. Miller, convicted in 2022 for defrauding Amish and Mennonite investors through his real estate investment firm,
- [Former Ameriprise Advisor Barred by FINRA for Non-Cooperation in Crypto Business Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/former-ameriprise-advisor-barred-by-finra-for-noncooperation-in-crypto-business-investigation): A former Ameriprise Financial advisor, Eric V. Kubiak, has chosen an industry bar over full cooperation with a Financial Industry Regulatory Authority (FIN...
- [RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Wealth Following FINRA Fine](https://www.ecclestonlaw.com/eccleston-law-blog/ria-evernest-files-lawsuit-to-sever-ties-with-sanctuary-wealth-following-finra-fine): EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percen...
- [FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-takes-action-against-former-cambridge-advisor-for-annuity-exchange-violations): Malay Kumar, a former advisor affiliated with Cambridge Investment Research, recently agreed to settle a disciplinary matter brought by FINRA. The AWC (Acc...
- [FINRA Issues Warning Amid Surge in "Investment Group" Frauds on Social Media](https://www.ecclestonlaw.com/eccleston-law-blog/finra-issues-warning-amid-surge-in-investment-group-frauds-on-social-media): The Financial Industry Regulatory Authority (FINRA) reports a surge in investor complaints related to fraudulent
- [New "XXXX" Exchange-Traded Notes Draw Attention](https://www.ecclestonlaw.com/eccleston-law-blog/new-xxxx-exchangetraded-notes-draw-attention): A recently introduced investment strategy in the United States is gaining attention for its amplified stock leverage.
- [FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-former-edward-jones-financial-advisor-for-unauthorized-trades): A former Edward Jones financial advisor in San Francisco, Jilena Yuen-Han Mok, has been fined and suspended by the Financial Industry Regulatory Authority ...
- [Robinhood Settles Regulatory Action and Agrees to Overhaul Gamification Practices](https://www.ecclestonlaw.com/eccleston-law-blog/robinhood-settles-regulatory-action-and-agrees-to-overhaul-gamification-practices): After a prolonged legal battle with the Massachusetts Securities Division, Robinhood has agreed to pay $7.5 million and revamp its digital engagement pract...
- [FINRA Adopts New Rules for Remote Inspections and Home Offices](https://www.ecclestonlaw.com/eccleston-law-blog/finra-adopts-new-rules-for-remote-inspections-and-home-offices): The Financial Industry Regulatory Authority (FINRA) has implemented new rules to enhance its remote inspections pilot program and address home offices as
- [New Jersey Advisor Faces Charges for Alleged $89 Million Investor Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/new-jersey-advisor-faces-charges-for-alleged-89-million-investor-fraud-scheme): Raymond John Pirrello Jr., a barred New Jersey advisor, has been indicted on three counts, including securities fraud conspiracy and wire fraud conspiracy,...
- [Major Investors Opt Out of Class Actions, Pursue Larger Recoveries](https://www.ecclestonlaw.com/eccleston-law-blog/major-investors-opt-out-of-class-actions-pursue-larger-recoveries): Large shareholders increasingly are choosing to opt out of class-action settlements, a trend that has gained momentum since a pivotal US Supreme Court ruli...
- [FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications](https://www.ecclestonlaw.com/eccleston-law-blog/finra-flags-violations-in-70-of-brokerdealers-crypto-communications): During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker...
- [Challenges Persist: Firms Struggle to Comply with Regulation Best Interest](https://www.ecclestonlaw.com/eccleston-law-blog/challenges-persist-firms-struggle-to-comply-with-regulation-best-interest): FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).
- [SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business](https://www.ecclestonlaw.com/eccleston-law-blog/sec-alleges-fraud-against-morgan-stanley-and-former-executive-in-block-trading-business): As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity...
- [Key Considerations for Advisors When Assessing the Financial Soundness of Annuities](https://www.ecclestonlaw.com/eccleston-law-blog/key-considerations-for-advisors-when-assessing-the-financial-soundness-of-annuities): While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain f...
- [Advisor Accepts Industry Bar Amid FINRA Probe into Outside Business Activities](https://www.ecclestonlaw.com/eccleston-law-blog/advisor-accepts-industry-bar-amid-finra-probe-into-outside-business-activities): John A. Dougherty, a veteran advisor with 23 years of experience, agreed to an AWC (Acceptance, Waiver, and Consent) after refusing to cooperate with a reg...
- [SEC Bars Florida Man in $35 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-florida-man-in-35-million-ponzi-scheme): Brent Seaman of Naples, Florida, has accepted a settlement in an SEC civil action, admitting to acting as an unregistered broker or dealer in the sale of s...
- [Edward Jones Advisor Faces Suspension and Fine for Concealing Office Ownership](https://www.ecclestonlaw.com/eccleston-law-blog/edward-jones-advisor-faces-suspension-and-fine-for-concealing-office-ownership): Lincoln L. Mason has agreed to a 90-day suspension and a $5,000 fine following allegations of deceiving the firm into leasing office space he owned.
- [Former Wells Fargo Advisor Suspended by FINRA for Unreported Brokerage Account](https://www.ecclestonlaw.com/eccleston-law-blog/former-wells-fargo-advisor-suspended-by-finra-for-unreported-brokerage-account): A former Wells Fargo advisor, Robert J. DeHayes, faced fines and suspension from the Financial Industry Regulatory Authority (FINRA) for maintaining an und...
- [LPL Financial Agrees to $6 Million Settlement with FINRA Over Regulation Best Interest Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-agrees-to-6-million-settlement-with-finra-over-regulation-best-interest-lapses): LPL Financial has agreed to pay over $6 million to settle charges by FINRA, alleging violations of Regulation Best Interest in recommending trades involvin...
- [New York Attorney General Sues Citibank](https://www.ecclestonlaw.com/eccleston-law-blog/new-york-attorney-general-sues-citibank): New York Attorney General Letitia James has shifted away from her filing a politically motivated action to now file a lawsuit against Citibank, accusing th...
- [Mariner Wealth Advisors Face Legal Heat as Competitors Allege Aggressive Recruiting Tactics](https://www.ecclestonlaw.com/eccleston-law-blog/mariner-wealth-advisors-face-legal-heat-as-competitors-allege-aggressive-recruiting-tactics): Mariner Wealth Advisors has recently become the target of multiple lawsuits from competitors, including Edelman Financial Engines, Avantax, and RWA Wealth ...
- [CFP Board Survey Reveals Lucrative Compensation for Certified Financial Planners](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-survey-reveals-lucrative-compensation-for-certified-financial-planners): According to the inaugural compensation survey conducted by the Certified Financial Planner (CFP) Board, financial planners enjoy substantial earnings when...
- [FINRA Bars Former Edward Jones Advisor Amid Investigation into Alleged Cannabis Ponzi Scheme Involvement](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-edward-jones-advisor-amid-investigation-into-alleged-cannabis-ponzi-scheme-involvement): A former Edward Jones advisor, Alexandra P. Bovee (also known as Alexandria Montgomery), has accepted an industry bar rather than cooperate with the Financ...
- [SEC Chair Gensler Addresses AI Challenges and Conflict-of-Interest Proposals](https://www.ecclestonlaw.com/eccleston-law-blog/sec-chair-gensler-addresses-ai-challenges-and-conflictofinterest-proposals): SEC Chair Gary Gensler highlighted the dual nature of artificial intelligence (AI), acknowledging its vast opportunities for humanity while also underscori...
- [Citigroup and Wells Fargo Advisor Charged with Defrauding Clients in Movie Investment Scam](https://www.ecclestonlaw.com/eccleston-law-blog/citigroup-and-wells-fargo-advisor-charged-with-defrauding-clients-in-movie-investment-scam): Helen Grace Caldwell, a former Illinois financial advisor with Citigroup and Wells Fargo, is facing federal wire fraud charges for allegedly cheating three...
- [Morgan Stanley Advisor Barred for Allegedly Embezzling $58,000 from Clients](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-advisor-barred-for-allegedly-embezzling-58000-from-clients): Chingyuan
- [FINRA Implements Reforms to Arbitrator Selection Process](https://www.ecclestonlaw.com/eccleston-law-blog/finra-implements-reforms-to-arbitrator-selection-process): The Financial Industry Regulatory Authority (“FINRA”) is rolling out reforms to its arbitration forum's panel selection process.
- [KBS Realty Advisors Fund Faces Uncertainty Amidst Commercial Real Estate Challenges](https://www.ecclestonlaw.com/eccleston-law-blog/kbs-realty-advisors-fund-faces-uncertainty-amidst-commercial-real-estate-challenges): According to a regulatory filing cited by the Dallas Morning News, KBS Real Estate Investment Trust III has raised concerns about its future viability.
- [FINRA Set to End Temporary Remote Inspection Relief with New Rules](https://www.ecclestonlaw.com/eccleston-law-blog/finra-set-to-end-temporary-remote-inspection-relief-with-new-rules): The Financial Industry Regulatory Authority (FINRA) announced that it will conclude its temporary relief from in-person inspection requirements, implemente...
- [SEC Charges Individuals in $1.7 Billion Crypto Pyramid Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-individuals-in-17-billion-crypto-pyramid-scheme): The Securities and Exchange Commission (SEC) has filed charges against Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) for their involvement ...
- [FINRA's Year-End Enforcement Blitz: LPL Financial and Interactive Brokers Face Major Penalties](https://www.ecclestonlaw.com/eccleston-law-blog/finras-yearend-enforcement-blitz-lpl-financial-and-interactive-brokers-face-major-penalties): The Financial Industry Regulatory Authority Inc. (FINRA) concluded the year with significant penalties against two major firms, LPL Financial and Interacti...
- [Investors Navigate Illiquidity in Venture Funds Through Secondary Deals](https://www.ecclestonlaw.com/eccleston-law-blog/investors-navigate-illiquidity-in-venture-funds-through-secondary-deals): The Wall Street Journal reports that the current sluggishness in the venture market has left many investors in venture funds grappling with illiquid portfo...
- [TIAA Settles SEC Charges for Violating Reg BI](https://www.ecclestonlaw.com/eccleston-law-blog/tiaa-settles-sec-charges-for-violating-reg-bi): The Teachers Insurance and Annuity Association of America (TIAA) has agreed to a $2.2 million settlement with the Securities and Exchange Commission (SEC) ...
- [Philadelphia Father-Son Advisory Team Awarded Half-Million Dollars in Defamation Case at FINRA](https://www.ecclestonlaw.com/eccleston-law-blog/philadelphia-fatherson-advisory-team-awarded-halfmillion-dollars-in-defamation-case-at-finra): A Philadelphia-based father-son advisory team has won a significant victory in a FINRA arbitration case against their former firm, Woodbury Financial Servi...
- [J.P. Morgan Securities Settles $18 Million SEC Case Over Whistleblower Violations](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-securities-settles-18-million-sec-case-over-whistleblower-violations): J.P. Morgan Securities faced a significant penalty as it settled charges brought by the Securities and Exchange Commission (SEC) regarding actions that hin...
- [SEC Accuses Former Morgan Stanley Advisor of Defrauding Clients](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-former-morgan-stanley-advisor-of-defrauding-clients): The Securities and Exchange Commission (SEC) has filed fraud charges against Jesus Rodriguez, accusing him of misappropriating nearly $3.5 million from at ...
- [FINRA Sanctions Advisor for Signature Falsifications](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-advisor-for-signature-falsifications): A 46-year industry veteran from Braintree, Massachusetts, Timothy W. Leveroni, has settled a disciplinary matter by the Financial Industry Regulatory Autho...
- [FINRA Sanctions Advisor for Unapproved Fundraising Activities Following Approved OBA](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-advisor-for-unapproved-fundraising-activities-following-approved-oba): The Financial Industry Regulatory Authority (FINRA) has levied a $15,000 fine and a 21-month suspension against a former advisor, Jeffrey W. Davidson, base...
- [FINRA Charges Advisor for Illicit Commissions Linked to Unregistered Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-charges-advisor-for-illicit-commissions-linked-to-unregistered-advisor): The Financial Industry Regulatory Authority Inc. (FINRA) has taken action against a California broker, Daniel Beech, allegedly for funneling $900,000 in co...
- [FINRA Charges Multiple Firms for Communication Failures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-charges-multiple-firms-for-communication-failures): FINRA has penalized several broker-dealers and investment advisors for widespread and longstanding failures to maintain and preserve electronic communicati...
- [Former Advisor Awarded $147,000 in Morgan Stanley Dispute Over Congressional Run](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-awarded-147000-in-morgan-stanley-dispute-over-congressional-run): In a recent arbitration decision, FINRA ordered Morgan Stanley to pay $147,000 in damages to Deborah Adeimy, a former advisor from Florida.
- [FINRA Issues Wells Notice to Advisor Austin Dutton](https://www.ecclestonlaw.com/eccleston-law-blog/finra-issues-wells-notice-to-advisor-austin-dutton): Austin Dutton, a seasoned Philadelphia-area advisor, received a Wells Notice from the Financial Industry Regulatory Authority Inc. (FINRA).
- [Former Edward Jones Advisor opts for Industry Bar Amid FINRA Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/former-edward-jones-advisor-opts-for-industry-bar-amid-finra-investigation): Reuben L. Brown, a former advisor at Edward D. Jones & Co. in Southlake, Dallas, has chosen an industry bar over cooperating with a Financial Industry ...
- [FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Rule Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-morgan-stanley-16-million-for-municipal-securities-rule-violations): The Financial Industry Regulatory Authority (FINRA) has imposed a $1.6 million fine on Morgan Stanley for repeated violations of rules established by the M...
- [FINRA Takes Action Against Advisor for Violating Regulation Best Interest](https://www.ecclestonlaw.com/eccleston-law-blog/finra-takes-action-against-advisor-for-violating-regulation-best-interest): The Financial Industry Regulatory Authority (FINRA) has sanctioned a former advisor at Network 1 Financial Securities for breaching Regulation Best Interes...
- [Stifel Financial Settles with FINRA Over Advisor Supervision Failures](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-financial-settles-with-finra-over-advisor-supervision-failures): Stifel Financial has settled with FINRA, agreeing to a censure and a nearly $460,000 payment to resolve allegations of inadequate supervision of two adviso...
- [Cantor Fitzgerald LP Sues Former Bankers Over Alleged Client Poaching](https://www.ecclestonlaw.com/eccleston-law-blog/cantor-fitzgerald-lp-sues-former-bankers-over-alleged-client-poaching): Cantor Fitzgerald LP has initiated legal action against PEI Global Partners Holdings LLC, a firm founded by a group of its former investment bankers, alleg...
- [FINRA Penalizes Ex-Raymond James Advisor for Document Alterations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-exraymond-james-advisor-for-document-alterations): A former Raymond James financial advisor faced a $5,000 fine and a four-month suspension from the Financial Industry Regulatory Authority (FINRA) for alleg...
- [Commonwealth Financial Network Faces Potential Damages Amid SEC Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/commonwealth-financial-network-faces-potential-damages-amid-sec-lawsuit): Commonwealth Financial Network is under fire, as it faces potential damages amounting to $111.5 million from a Securities and Exchange Commission (SEC) com...
- [Former Wells Fargo Advisor Accepts Industry Bar Amidst Misuse of Client Funds Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/former-wells-fargo-advisor-accepts-industry-bar-amidst-misuse-of-client-funds-allegations): A former advisor with Wells Fargo Advisors Financial Network (FiNet) in Chicago, Jayson R. Pocius, has agreed to accept an industry bar rather than coopera...
- [B. Riley Financial Again Delays Filing Audited Results](https://www.ecclestonlaw.com/eccleston-law-blog/b-riley-financial-again-delays-filing-audited-results): B. Riley Financial Inc. has encountered a setback in filing its audited results within an extended timeframe, adding to existing pressure amid concerns rai...
- [SEC Fines Target Off-Channel Communications](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-target-offchannel-communications): The Securities and Exchange Commission (SEC) is ramping up its enforcement efforts targeting off-channel communications, particularly text messages, among ...
- [WealthFeed Raises Funds for AI-Driven Lead Generation Tool](https://www.ecclestonlaw.com/eccleston-law-blog/wealthfeed-raises-funds-for-aidriven-lead-generation-tool): WealthFeed leverages proprietary AI technology to collect nine real-time financial data points, including business sales, capital raises, inheritances, and...
- [FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-independent-brokerdealers-over-cybersecurity-lapses): The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cyber...
- [Surge Predicted in Regulation Best Interest Cases](https://www.ecclestonlaw.com/eccleston-law-blog/surge-predicted-in-regulation-best-interest-cases): According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
- [RIA Insurance Claims Skyrocket](https://www.ecclestonlaw.com/eccleston-law-blog/ria-insurance-claims-skyrocket): A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investmen...
- [B. Riley Financial Clears Air Amid Allegations, Stock Surges](https://www.ecclestonlaw.com/eccleston-law-blog/b-riley-financial-clears-air-amid-allegations-stock-surges): Amidst swirling speculation regarding its connections with a client linked to the Prophecy Asset Management collapse, B. Riley Financial Inc. has conducted...
- [Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-seeks-injunction-against-former-advisor-for-soliciting-clients): Morgan Stanley has taken legal action against Gregory T. Chevrier to prevent him from contacting his former clients.
- [FINRA Regulatory Report Highlights Key Challenges](https://www.ecclestonlaw.com/eccleston-law-blog/finra-regulatory-report-highlights-key-challenges): FINRA's recently released 2024 regulatory oversight report sheds light on evolving trends and challenges in the financial industry.
- [Commonwealth Financial Network Ordered to Pay $93.3 Million Over Conflicts of Interest](https://www.ecclestonlaw.com/eccleston-law-blog/commonwealth-financial-network-ordered-to-pay-933-million-over-conflicts-of-interest): Commonwealth Financial Network has been directed to pay $93.3 million due to its failure to disclose conflicts of interest linked to a revenue-sharing prog...
- [FINRA Arbitration Awards Wells Fargo Over $3 Million in Dispute with Ohio RIA Founders](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-awards-wells-fargo-over-3-million-in-dispute-with-ohio-ria-founders): A recent FINRA arbitration decision has ordered a Cincinnati-based registered investment advisor firm and two of its founders to pay Wells Fargo more than ...
- [FINRA Bars Former E-Trade Broker for Refusal to Cooperate in Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-etrade-broker-for-refusal-to-cooperate-in-investigation): Matthew J. Chimento, a former broker at E-Trade Securities in Alpharetta, Georgia, has been barred by FINRA for failing to provide information and document...
- [Court Grants Former Advisor Temporary Protection in Legal Battle Against Hightower Holdings](https://www.ecclestonlaw.com/eccleston-law-blog/court-grants-former-advisor-temporary-protection-in-legal-battle-against-hightower-holdings): In a legal battle between a former advisor and Hightower Holdings, a Washington state court has issued a temporary restraining order (TRO) against the Chic...
- [SEC Cracks Down on Misuse of Artificial Intelligence](https://www.ecclestonlaw.com/eccleston-law-blog/sec-cracks-down-on-misuse-of-artificial-intelligence): The U.S. Securities and Exchange Commission (SEC) has taken action against two money managers, Delphia (USA) Inc. and Global Predictions Inc., for allegedl...
- [UBS Advisors Ordered to Pay Nearly $334,000 in Dispute with AllianceBernstein](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-advisors-ordered-to-pay-nearly-334000-in-dispute-with-alliancebernstein): An arbitration award revealed that two UBS advisors in Philadelphia, Elijah Dornstreich and Ryan DePaul, are required to pay approximately $334,000 in dama...
- [J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims](https://www.ecclestonlaw.com/eccleston-law-blog/jp-morgan-securities-ordered-to-pay-damages-over-defamation-claims): J.P. Morgan Securities has been directed to pay $250,000 in damages to a New York financial advisor following allegations of defamation in a regulatory fil...
- [Colorado Cracks Down on Imposter Investment Firms](https://www.ecclestonlaw.com/eccleston-law-blog/colorado-cracks-down-on-imposter-investment-firms): Colorado Securities Commissioner Tung Chan recently took action against two fraudulent investment firms, Joyce Dunbar Management, and Fluxia Capital Manage...
- [SEC Bars Financial Advisor for Securities Trading Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-financial-advisor-for-securities-trading-scheme): The Securities and Exchange Commission (SEC) has barred financial advisor Andrew Komarow from the securities industry, following a similar bar by FINRA.
- [Former Edward Jones Advisor Cleared to Solicit Clients for Wells Fargo Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/former-edward-jones-advisor-cleared-to-solicit-clients-for-wells-fargo-advisors): In a recent decision, a panel of three Financial Industry Regulatory Authority (FINRA) arbitrators ruled against Edward D. Jones & Co., allowing one of...
- [NFA Issues Order Against 50.ai Investments LLC](https://www.ecclestonlaw.com/eccleston-law-blog/nfa-issues-order-against-50ai-investments-llc): The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity poo...
- [CFTC Investigates Banks for Potential Whistleblower Suppression](https://www.ecclestonlaw.com/eccleston-law-blog/cftc-investigates-banks-for-potential-whistleblower-suppression): The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regar...
- [Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing](https://www.ecclestonlaw.com/eccleston-law-blog/fidelity-advisor-files-lawsuit-alleging-wrongful-termination-over-whistleblowing): A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his...
- [Financial Advisor Faces Prison for Defrauding Military Families](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisor-faces-prison-for-defrauding-military-families): A former financial advisor, Caz Craffy, faces a 20-year prison sentence for defrauding families of deceased military servicemembers, raking in over $1 mill...
- [FBI Report Highlights Rising Elder Fraud Trends](https://www.ecclestonlaw.com/eccleston-law-blog/fbi-report-highlights-rising-elder-fraud-trends): The FBI's Internet Crime Complaint Center (IC3) released its 2023 Elder Fraud Report, revealing a concerning surge in elder fraud complaints and associated...
- [Department of Labor Unveils New Fiduciary Rule](https://www.ecclestonlaw.com/eccleston-law-blog/department-of-labor-unveils-new-fiduciary-rule): The Department of Labor (DOL) has announced a comprehensive update to its fiduciary rule, marking a significant overhaul of regulations dating back to 1975...
- [Stifel Fined Nearly $3 Million for Supervisory Failures](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-fined-nearly-3-million-for-supervisory-failures): Stifel Financial Corp. has agreed to pay fines and restitution totaling nearly $3 million due to deficiencies in supervision and compliance regarding the s...
- [SEC Fines Five Investment Advisory Firms for Marketing Rule Violations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-five-investment-advisory-firms-for-marketing-rule-violations): The Securities and Exchange Commission (SEC) has taken action against five registered investment advisory (RIA) firms for breaching its updated marketing r...
- [SEC and FinCEN Propose Stricter Anti-Money Laundering Rules for Investment Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-and-fincen-propose-stricter-antimoney-laundering-rules-for-investment-advisors): The Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN) have proposed a rule to enhance anti-money laundering (A...
- [FINRA Targets Repeat Offenders and Reg BI Violations in Enforcement Focus](https://www.ecclestonlaw.com/eccleston-law-blog/finra-targets-repeat-offenders-and-reg-bi-violations-in-enforcement-focus): AdvisorHub reports that the Financial Industry Regulatory Authority (FINRA) is advocating more stringent penalties for repeat offenders who fail to comply ...
- [Advisor Ordered to Pay $2.6 Million in Damages for Breaching Asset Purchase Agreement](https://www.ecclestonlaw.com/eccleston-law-blog/advisor-ordered-to-pay-26-million-in-damages-for-breaching-asset-purchase-agreement): A FINRA arbitration panel has ordered Nicole E. Sennett to pay $2,557,000 in compensatory damages to Monocacy Wealth Partners and its founders, Scott A. Br...
- [Bank Sues Founders of Precedent Wealth](https://www.ecclestonlaw.com/eccleston-law-blog/bank-sues-founders-of-precedent-wealth): Cadence Bank has filed a lawsuit against the founders of Precedent Wealth, a San Antonio RIA, accusing them of stealing confidential information and trade ...
- [SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation](https://www.ecclestonlaw.com/eccleston-law-blog/sec-files-charges-against-robert-mthompson-and-financial-freedom-foundation): The U.S. Securities and Exchange Commission (SEC) has taken legal action against Robert M. Thompson and Financial Freedom Foundation (F3 Mastermind), a pri...
- [FINRA Arbitration Awards $100,000 to Investor Over Unsuitable GWG L Bonds](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-awards-100000-to-investor-over-unsuitable-gwg-l-bonds): In a recent FINRA arbitration, an investor was awarded close to $100,000 due to unsuitable investments in GWG L bonds purchased in 2018 and 2020.
- [Regulatory Probes Target Morgan Stanley's Wealth Management Arm](https://www.ecclestonlaw.com/eccleston-law-blog/regulatory-probes-target-morgan-stanleys-wealth-management-arm): Multiple regulatory agencies, including the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), are cond...
- [Oppenheimer & Co. Fined $500,000 by FINRA for Supervisory Lapses](https://www.ecclestonlaw.com/eccleston-law-blog/oppenheimer--co-fined-500000-by-finra-for-supervisory-lapses): Oppenheimer & Co. has agreed to a $500,000 fine to settle allegations made by FINRA regarding inadequate supervision of certain trades conducted by its...
- [SEC Issues Risk Alert to Broker-Dealers Regarding Examination Criteria](https://www.ecclestonlaw.com/eccleston-law-blog/sec-issues-risk-alert-to-brokerdealers-regarding-examination-criteria): The Securities and Exchange Commission (SEC) has issued a new Risk Alert, advising broker-dealers that their prior disciplinary history, financial stress i...
- [Merrill Lynch Fined for Supervisory Failures](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-fined-for-supervisory-failures): Merrill Lynch has reached an $825,000 settlement with FINRA over allegations of inadequate supervision concerning retail orders and recordkeeping practices...
- [Tax Court Denies Madoff Victims $8.2 Million Deduction](https://www.ecclestonlaw.com/eccleston-law-blog/tax-court-denies-madoff-victims-82-million-deduction): Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insuranc...
- [FINRA Struggles to Revise Outside Business Rules](https://www.ecclestonlaw.com/eccleston-law-blog/finra-struggles-to-revise-outside-business-rules): The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, accordi...
- [Wells Fargo Fires Employees for Faking Work](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-fires-employees-for-faking-work): Wells Fargo & Co. recently terminated over a dozen employees following an investigation into allegations of fake work activities.
- [Accredited Investor Standards Under Review Amid Growing Inflation Numbers](https://www.ecclestonlaw.com/eccleston-law-blog/accredited-investor-standards-under-review-amid-growing-inflation-numbers): The criteria defining who qualifies as an
- [SEC's Private Fund Advisors Rules Create Challenges](https://www.ecclestonlaw.com/eccleston-law-blog/secs-private-fund-advisors-rules-create-challenges): Registered Investment Advisors (RIAs) are facing a pivotal moment as they gear up to comply with the Securities and Exchange Commission's (SEC) Private Fun...
- [CFTC Joins SEC in Probing Wall Street Banks Over Non-Disclosure Agreements](https://www.ecclestonlaw.com/eccleston-law-blog/cftc-joins-sec-in-probing-wall-street-banks-over-nondisclosure-agreements): The Commodity Futures Trading Commission (CFTC) is investigating major Wall Street banks to determine if their non-disclosure agreements (NDAs) are prevent...
- [Merrill Lynch Increases Referral Fees to Recruit Veteran Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-increases-referral-fees-to-recruit-veteran-advisors): Merrill Lynch has begun enhancing its recruitment efforts- now offering headhunters a 10 percent referral fee, up from 8 percent, for successful placements...
- [Examining Firm Liability for Third-Party and Client Misdeeds](https://www.ecclestonlaw.com/eccleston-law-blog/examining-firm-liability-for-thirdparty-and-client-misdeeds): FinancialPlanning.com recently asked, “How much liability can a firm have for the actions of third-party vendors or clients?” This questio...
- [IRS Highlights Tax Scams Targeting High-Net-Worth Individuals](https://www.ecclestonlaw.com/eccleston-law-blog/irs-highlights-tax-scams-targeting-highnetworth-individuals): The Internal Revenue Service (IRS) has concluded its annual Dirty Dozen campaign, spotlighting the most egregious tax scams. According to WealthManagement....
- [FINRA Panel Order Advisor to Pay $2.6 Million for Soliciting Former Clients](https://www.ecclestonlaw.com/eccleston-law-blog/finra-panel-order-advisor-to-pay-26-million-for-soliciting-former-clients): A FINRA arbitration panel ruled against advisor Nicole E. Sennett for allegedly attempting to solicit former clients after selling her practice to Monocacy...
- [Former Advisor Sentenced for Stealing Elderly Client's Life Savings](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-sentenced-for-stealing-elderly-clients-life-savings): Eddy Ray Blizzard, a former financial advisor, has been sentenced to 3.5 years in federal prison for stealing nearly $1 million from an elderly client.
- [Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients](https://www.ecclestonlaw.com/eccleston-law-blog/federal-judge-restrains-raymond-james-from-soliciting-former-td-bank-clients): A federal judge has issued a restraining order against two Raymond James advisors, preventing them from contacting their former clients at TD Bank.
- [Financial Advisor Awarded $376,000 in Partnership Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisor-awarded-376000-in-partnership-dispute): Financial advisors often partner with other financial advisors, but how they document the arrangement is critically important.
- [Brokerage Firm Settles FINRA Allegations for Texting Lapses and Due Diligence Deficiencies](https://www.ecclestonlaw.com/eccleston-law-blog/brokerage-firm-settles-finra-allegations-for-texting-lapses-and-due-diligence-deficiencies): A recent settlement between a Florida-based brokerage firm and the Financial Industry Regulatory Authority (FINRA) has drawn attention to the importance of...
- [Nontraded REIT Sales Slump Amid Market Uncertainty](https://www.ecclestonlaw.com/eccleston-law-blog/nontraded-reit-sales-slump-amid-market-uncertainty): InvestmentNews recently covered the sluggish start to nontraded real estate investment trust (REIT) sales in the current year, observing that the slump ref...
- [Top Morgan Stanley Advisor Fined and Suspended](https://www.ecclestonlaw.com/eccleston-law-blog/top-morgan-stanley-advisor-fined-and-suspended): A prominent Morgan Stanley advisor has accepted a 45-day suspension and a $10,000 fine for unauthorized money transfers and using personal communication ch...
- [SEC Charges Investment Firm with Defrauding Investors of $3 Million](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-investment-firm-with-defrauding-investors-of-3-million): The U.S. Securities and Exchange Commission (SEC) has charged Joshua Goltry and his firm, JAG Capital Advisors LLC, with defrauding investors of at least $...
- [Wells Fargo Faces ERISA Lawsuit Over 401(k) Plan Asset Use](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-faces-erisa-lawsuit-over-401k-plan-asset-use): A new proposed class action has been filed in the US District Court in the Northern District of California, alleging that Wells Fargo and its associated co...
- [CFP Board Reaches Milestone with 100,000 Certified Financial Planners](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-reaches-milestone-with-100000-certified-financial-planners): The CFP Board recently announced a significant milestone, surpassing 100,000 Certified Financial Planners (CFPs).
- [Former Apprentice Advisor Sentenced to Prison for Client Theft](https://www.ecclestonlaw.com/eccleston-law-blog/former-apprentice-advisor-sentenced-to-prison-for-client-theft): Dusty Sternadel, a former advisor with Ameriprise, has been sentenced to five years for defrauding clients of over $1.2 million. The Justice Department rev...
- [Salomon & Ludwin Sues Former Employees Despite Being a Protocol Move](https://www.ecclestonlaw.com/eccleston-law-blog/salomon--ludwin-sues-former-employees-despite-being-a-protocol-move): According to WealthManagement, a team of advisors has left Salomon & Ludwin (S&L), a registered investment advisor, to establish their own RIA, Fou...
- [FINRA Bars Two Former Raymond James Advisors for Non-Cooperation in Investigations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-two-former-raymond-james-advisors-for-noncooperation-in-investigations): The Financial Industry Regulatory Authority (FINRA) has barred two former Raymond James financial advisors after they refused to cooperate with investigati...
- [FINRA Sanctions CFP for Sharing Exam Content](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-cfp-for-sharing-exam-content): The Financial Industry Regulatory Authority (FINRA) has fined Certified Financial Planner Joseph Occhipinti $5,000 and suspended him for one month for shar...
- [Morgan Stanley Settles Block Trade Investigations for $249 Million](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-settles-block-trade-investigations-for-249-million): Morgan Stanley has agreed to pay $249.4 million to resolve criminal and civil investigations into its handling of large stock trades for customers, accordi...
- [Financial Institutions Struggle to Combat Rising Authorized Transfer Scams](https://www.ecclestonlaw.com/eccleston-law-blog/financial-institutions-struggle-to-combat-rising-authorized-transfer-scams): According to InvestmentNews, financial institutions are increasingly grappling with authorized transfer scams as scammers become more adept at convinc...
- [Cambridge Investment Research Faces FINRA Review and SEC Penalties](https://www.ecclestonlaw.com/eccleston-law-blog/cambridge-investment-research-faces-finra-review-and-sec-penalties): Cambridge Investment Research is under review by FINRA's examination staff and anticipates making a $500,000 restitution payment to certain clients in 2024...
- [Financial Advisors Win Arbitration Over "Book of Business" Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisors-win-arbitration-over-book-of-business-dispute): In a lengthy arbitration dispute, two Miami-based financial advisors, Eduardo Augsten and Gustavo Vega, battled over revenue generated from their shared bo...
- [Former Florida Financial Advisor Charged with $2.7 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-florida-financial-advisor-charged-with-27-million-fraud-scheme): According to ThinkAdvisor, federal prosecutors have charged former Florida financial advisor Jared Dean Eakes with wire fraud, alleging he scammed cli...
- [Raymond James Settles with Oregon Over Excessive Commissions](https://www.ecclestonlaw.com/eccleston-law-blog/raymond-james-settles-with-oregon-over-excessive-commissions): Raymond James recently settled a case with Oregon's Division of Financial Regulation (“DFR”), agreeing to pay nearly $200,000 over allegations ...
- [FINRA Plans Fee Increases Amid Rising Costs and Losses](https://www.ecclestonlaw.com/eccleston-law-blog/finra-plans-fee-increases-amid-rising-costs-and-losses): The Financial Industry Regulatory Authority (FINRA) has announced plans to raise fees for its approximately 3,300 broker-dealer member firms. According to ...
- [Kentucky Advisor Sues LPL Financial for Alleged Corporate Raid](https://www.ecclestonlaw.com/eccleston-law-blog/kentucky-advisor-sues-lpl-financial-for-alleged-corporate-raid): A Kentucky advisor, Mark Lamkin, has filed a lawsuit against LPL Financial, claiming the independent broker-dealer orchestrated a corporate raid that resul...
- [Why Financial Advisors Should Embrace a Niche Market](https://www.ecclestonlaw.com/eccleston-law-blog/why-financial-advisors-should-embrace-a-niche-market): FinancialPlanning recently discussed how focusing on a niche can accelerate growth, especially when advisors promote their focus across all mediums, i...
- [Tech Drip Hits Leveraged ETFs Hard, Highlighting Investment Risks](https://www.ecclestonlaw.com/eccleston-law-blog/tech-drip-hits-leveraged-etfs-hard-highlighting-investment-risks): Recent AI-driven rallies in tech stocks have encouraged investors to buy the dip, but this strategy has backfired for those using leveraged exchange-traded...
- [Clients Sue Charles Schwab and Hightower Advisors Over $1 Million Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/clients-sue-charles-schwab-and-hightower-advisors-over-1-million-fraud): Clients are suing Charles Schwab & Co. and Hightower Advisors after fraudsters allegedly stole nearly $1 million from their retirement accounts and tur...
- [SEC Charges Silvergate Capital and Executives with Misleading Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-silvergate-capital-and-executives-with-misleading-investors): The Securities and Exchange Commission (SEC) has filed a complaint against Silvergate Capital Corporation and three former executives, alleging they misled...
- [SEC's Private Fund Advisers Rules](https://www.ecclestonlaw.com/eccleston-law-blog/secs-private-fund-advisers-rules): The Securities and Exchange Commission (SEC) is tightening the regulatory framework for Registered Investment Advisers (RIAs) with the implementation of th...
- [LPL Financial Faces Lawsuit Over Low Interest Rates in Cash Sweep Programs](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-faces-lawsuit-over-low-interest-rates-in-cash-sweep-programs): LPL Financial is the latest target of a lawsuit concerning the interest rates it offers on uninvested cash held in customer accounts.
- [Two Raymond James Advisors Barred for Failing to Cooperate in FINRA Investigations](https://www.ecclestonlaw.com/eccleston-law-blog/two-raymond-james-advisors-barred-for-failing-to-cooperate-in-finra-investigations): FINRA has barred two Raymond James Financial Services Inc. advisors, Bryan Noonan and Thomas Reyes, from the securities industry due to their failure to co...
- [B. Riley Financial Faces New Challenges with Struggling Texas Retailer](https://www.ecclestonlaw.com/eccleston-law-blog/b-riley-financial-faces-new-challenges-with-struggling-texas-retailer): B. Riley Financial Inc., a boutique investment bank, faces fresh turmoil due to its involvement with Conn’s Inc., a Texas-based home-furnishings chai...
- [SEC Warns of Increasing Investment Fraud Threats](https://www.ecclestonlaw.com/eccleston-law-blog/sec-warns-of-increasing-investment-fraud-threats): The SEC’s Office of the Investor Advocate recently submitted its objectives report for fiscal year 2025 to Congress, highlighting the growing threat ...
- [Ex-Morgan Stanley Advisor Accepts Industry Bar for Failing to Cooperate with FINRA Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/exmorgan-stanley-advisor-accepts-industry-bar-for-failing-to-cooperate-with-finra-investigation): A former Morgan Stanley advisor, John Scott McCoy Jr., has accepted an industry bar instead of cooperating with a regulatory investigation into his departu...
- [FINRA Fines Former LPL Rep Misappropriating Customer Data](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-former-lpl-rep-misappropriating-customer-data): The Financial Industry Regulatory Authority (FINRA) has fined former LPL Financial representative Nathaniel Adams $5,000 and suspended him for two months. ...
- [DOJ Launches Pilot Whistleblower Program Offering Financial Incentives for Reporting Corporate Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/doj-launches-pilot-whistleblower-program-offering-financial-incentives-for-reporting-corporate-misconduct): The Department of Justice (DOJ) has introduced a new pilot program offering financial rewards to whistleblowers who provide original information related to...
- [Former Morgan Stanley Advisor Fined and Suspended for Unauthorized Trading](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-fined-and-suspended-for-unauthorized-trading): FINRA has fined a former Morgan Stanley advisor, Craig Sherman Thistlethwaite, $10,000 and suspended him for 60 days for unauthorized trading and other vio...
- [GPB Capital Executives Found Guilty of Securities Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/gpb-capital-executives-found-guilty-of-securities-fraud): David Gentile, the founder and CEO of GPB Capital Holdings, and Jeffry Schneider, chief of broker-dealer Ascendant Capital, were found guilty on all fraud ...
- [Starwood REIT Limits Shareholder Redemptions Amid Liquidity Challenges](https://www.ecclestonlaw.com/eccleston-law-blog/starwood-reit-limits-shareholder-redemptions-amid-liquidity-challenges): According to InvestmentNews, Starwood Real Estate Income Trust Inc. (SREIT), has announced a significant reduction in the amount of shares it will repurcha...
- [Raymond James to Pay $50 Million in SEC Settlement Over Off-Channel Communications](https://www.ecclestonlaw.com/eccleston-law-blog/raymond-james-to-pay-50-million-in-sec-settlement-over-offchannel-communications): Raymond James Financial has reached a
- [SEC Scrutiny Intensifies Over Cash Management in Advisory Accounts](https://www.ecclestonlaw.com/eccleston-law-blog/sec-scrutiny-intensifies-over-cash-management-in-advisory-accounts): InvestmentNews reports that recent developments have intensified concerns about how broker-dealers manage cash in investment advisory accounts. Morgan Stan...
- [Brokerages Face Technical Meltdown Amid Market Turmoil](https://www.ecclestonlaw.com/eccleston-law-blog/brokerages-face-technical-meltdown-amid-market-turmoil): InvestmentNews recently reported that a severe technical glitch disrupted several major online brokerages as investors scrambled to trade amidst a sharp ma...
- [Department of Labor's New Retirement Security Rule: What it Means for Financial Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/department-of-labors-new-retirement-security-rule-what-it-means-for-financial-advisors): The Department of Labor (DOL) unveiled its final Retirement Security Rule, addressing the fiduciary obligations of financial advisors handling retirement-r...
- [Q2 2024 Securities Filings and Settlements: Key Insights](https://www.ecclestonlaw.com/eccleston-law-blog/q2-2024-securities-filings-and-settlements-key-insights): CRA Insights has prepared its update on Section 10(b) and Section 11 filings and settlements.
- [FINRA Bars Former Merrill Lynch Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-merrill-lynch-advisor): The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance vi...
- [Oppenheimer Seeks Court Order to Block Former Financial Advisor from Soliciting $65 Million Client Book of Deceased Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/oppenheimer-seeks-court-order-to-block-former-financial-advisor-from-soliciting-65-million-client-book-of-deceased-advisor): Oppenheimer & Co. has filed a lawsuit in federal court to restrain former advisor David Dodson from soliciting a $65 million client book that belonged ...
- [FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-and-suspends-exubs-advisor-for-trading-in-deceased-clients-account): As reported by AdvisorHub, the Financial Industry Regulatory Authority (FINRA) has fined a former UBS advisor Luis E. Nin $5,000 and suspended him for one ...
- [Advisor Sues Hightower, Alleging Age Discrimination and Unfair Treatment](https://www.ecclestonlaw.com/eccleston-law-blog/advisor-sues-hightower-alleging-age-discrimination-and-unfair-treatment): Glenn Frank, a Massachusetts-based financial advisor, has filed a lawsuit against Hightower Holdings and Lexington Wealth Management, alleging age discrimi...
- [Wisconsin Financial Advisor Suspended and Fined for Unauthorized Transactions](https://www.ecclestonlaw.com/eccleston-law-blog/wisconsin-financial-advisor-suspended-and-fined-for-unauthorized-transactions): FINRA has suspended and fined Wisconsin financial advisor John E. Pelletier after he executed 16 unauthorized transactions, allowing a client's ex-wife to ...
- [Supreme Court Limits SEC's Use of In-House Tribunals in Securities Fraud Cases](https://www.ecclestonlaw.com/eccleston-law-blog/supreme-court-limits-secs-use-of-inhouse-tribunals-in-securities-fraud-cases): As reported by InvestmentNews, the Supreme Court ruled in SEC v. Jarkesy that the SEC must bring actions seeking civil penalties for securities fraud in a ...
- [UBS Fined $850,000 for Supervisory Failures Leading to Investor Losses](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-fined-850000-for-supervisory-failures-leading-to-investor-losses): FINRA has fined UBS Wealth Management USA $850,000 for failing to supervise an advisor who recommended unauthorized outside investments for over a decade.
- [SEC Freezes Assets of Wells Real Estate Investment and Leaders Amid $56 Million Fraud Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-freezes-assets-of-wells-real-estate-investment-and-leaders-amid-56-million-fraud-allegations): The Securities and Exchange Commission (SEC) has taken emergency action against Wells Real Estate Investment, LLC, its CEO Janalie C. Bingham, and Jean Jos...
- [Veteran Advisor Exits Industry Amid FINRA Probe into UIT Trading Practices](https://www.ecclestonlaw.com/eccleston-law-blog/veteran-advisor-exits-industry-amid-finra-probe-into-uit-trading-practices): Gregory Alan Corrie, a 30-year industry veteran based in Boise, Idaho, has opted to leave the securities industry rather than cooperate with a FINRA invest...
- [TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/td-bank-sets-aside-26-billion-for-expected-fines-amid-moneylaundering-allegations): Toronto-Dominion Bank (TD Bank) has allocated $2.6 billion to cover anticipated fines related to failures in its anti-money laundering (AML) controls.
- [FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-advisor-for-forging-signatures-and-violating-regulation-best-interest): The Financial Industry Regulatory Authority (FINRA) has barred Christopher Reynolds for forging customer signatures on annuity documents and violating Regu...
- [New Treasury Rules Impose AML/CFT Requirements on Investment Advisers](https://www.ecclestonlaw.com/eccleston-law-blog/new-treasury-rules-impose-amlcft-requirements-on-investment-advisers): The U.S. Treasury Department has finalized anti-money-laundering (AML) regulations targeting investment advisers registered with the U.S. Securities and Ex...
- [FINRA Launches Pilot Program for Remote Branch Inspections](https://www.ecclestonlaw.com/eccleston-law-blog/finra-launches-pilot-program-for-remote-branch-inspections): According to InvestmentNews, a total of 741 FINRA member firms have joined a three-year pilot program assessing remote inspections of branches and offices.
- [Former Raymond James Advisor Fined and Suspended for Undisclosed Outside Business Activity](https://www.ecclestonlaw.com/eccleston-law-blog/former-raymond-james-advisor-fined-and-suspended-for-undisclosed-outside-business-activity): Andrew R. Hutcheson, a former advisor with Raymond James' Alex Brown division in Los Angeles, has agreed to a $5,000 fine and a 30-day suspension following...
- [LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Failures](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-faces-potential-50-million-sec-fine-for-recordkeeping-failures-): LPL Financial faces a fine of up to $50 million from the Securities and Exchange Commission (SEC) for non-compliance with records preservation rules, as re...
- [Understanding the Role of Recruiting Loans in Wealth Management Growth](https://www.ecclestonlaw.com/eccleston-law-blog/understanding-the-role-of-recruiting-loans-in-wealth-management-growth): Recruiting loan balances can offer insight into a wealth management firm's growth strategy, but they do not tell the whole story. Industry compensation con...
- [Merrill Lynch and Bank of America Fined $3 Million for Failing to Monitor Manipulative Trading](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-and-bank-of-america-fined-3-million-for-failing-to-monitor-manipulative-trading): Merrill Lynch and its parent company, Bank of America, have agreed to pay a $3 million fine and accepted censure from FINRA for their failure to properly m...
- [FINRA Rule Protects Advisors' Private Addresses on BrokerCheck](https://www.ecclestonlaw.com/eccleston-law-blog/finra-rule-protects-advisors-private-addresses-on-brokercheck-): FINRA recently implemented a rule allowing advisors to keep their personal home addresses off the public BrokerCheck database by simply checking a box.
- [Recruiting Loans Drive Growth in Financial Planning Firms](https://www.ecclestonlaw.com/eccleston-law-blog/recruiting-loans-drive-growth-in-financial-planning-firms): Recruiting in the financial planning industry remains a crucial strategy for growth, with major firms like LPL Financial and Morgan Stanley leading the cha...
- [Former LPL Financial Advisor Fined and Suspended for Unauthorized Signatures](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-financial-advisor-fined-and-suspended-for-unauthorized-signatures): According to AdvisorHub, Justin Y. Gerow has been fined $5,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over a...
- [CFP Board Revises Sanction Guidelines and Fitness Standards](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-revises-sanction-guidelines-and-fitness-standards): The CFP Board has finalized revisions to its Sanction Guidelines and Fitness Standards.
- [FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red Flags](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-supervisor-for-failing-to-address-excessive-trading-red-flags): FINRA has acted against an Independent Financial Group (IFG) supervisor for failing to respond to red flags involving excessive trading in five customer ac...
- [Former Army Financial Counselor Sentenced for Defrauding Gold Star Families](https://www.ecclestonlaw.com/eccleston-law-blog/former-army-financial-counselor-sentenced-for-defrauding-gold-star-families): A former U.S. Army financial counselor, Caz Craffy, also known as “Carz Craffey”, was sentenced to 151 months in prison for defrauding Gold Sta...
- [UBS Faces Class Action Lawsuit Over Cash Sweep Programs](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-faces-class-action-lawsuit-over-cash-sweep-programs): UBS has been hit with a class action lawsuit over its cash sweep programs, joining other major firms like LPL, Wells Fargo, and Ameriprise, which have face...
- [Bank of America and Merrill Lynch Settle with FINRA for Supervisory Failures](https://www.ecclestonlaw.com/eccleston-law-blog/bank-of-america-and-merrill-lynch-settle-with-finra-for-supervisory-failures): Bank of America and its subsidiary, Merrill Lynch, have agreed to a $3 million fine and censure as part of a settlement with FINRA over long-term superviso...
- [California Advisor Suspended and Fined for Churning Client Accounts](https://www.ecclestonlaw.com/eccleston-law-blog/california-advisor-suspended-and-fined-for-churning-client-accounts): A veteran advisor in Santa Maria, California, Stewart
- [SEC Charges Two South Florida Men for Defrauding Venezuelan-American Investors in $5 Million Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-two-south-florida-men-for-defrauding-venezuelanamerican-investors-in-5-million-scheme): The Securities and Exchange Commission (SEC) has filed a complaint against two South Florida men, Francisco Javier Malave Hernandez and Ricardo Javier Guer...
- [Western International Securities Fined Over $1.5 Million for Failing to Detect Churning](https://www.ecclestonlaw.com/eccleston-law-blog/western-international-securities-fined-over-15-million-for-failing-to-detect-churning): Western International Securities, a California broker-dealer, has been ordered to pay over $1.5 million for failing to detect churning in 100 customer acco...
- [SEC Enforcement Chief Gurbir Grewal to Step Down After Leading Major Crackdowns](https://www.ecclestonlaw.com/eccleston-law-blog/sec-enforcement-chief-gurbir-grewal-to-step-down-after-leading-major-crackdowns): Gurbir Grewal, Director of Enforcement at the U.S. Securities and Exchange Commission (SEC), is stepping down after playing a central role in major enforce...
- [SEC Updates Regulation S-P to Enhance Customer Data Protection](https://www.ecclestonlaw.com/eccleston-law-blog/sec-updates-regulation-sp-to-enhance-customer-data-protection): The SEC has introduced long-awaited updates to Regulation S-P, originally adopted in 2000, to improve the protection of customer records and information fo...
- [FINRA Fines Newbridge Securities $125,000 for AML Failures and Unsuitable Recommendations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-newbridge-securities-125000-for-aml-failures-and-unsuitable-recommendations): Newbridge Securities Corporation has been fined $125,000 and censured by the Financial Industry Regulatory Authority (FINRA) for inadequate anti-money laun...
- [Charles Schwab Faces Lawsuit Over Failure to Prevent Elder Fraud in Computer Hack](https://www.ecclestonlaw.com/eccleston-law-blog/charles-schwab-faces-lawsuit-over-failure-to-prevent-elder-fraud-in-computer-hack): A new lawsuit claims that Charles Schwab failed to protect an elderly client from a fraudulent scheme that drained her retirement savings.
- [Merrill Lynch and Harvest Volatility Management Fined $9.3 Million for Exceeding Client Investment Limits](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-and-harvest-volatility-management-fined-93-million-for-exceeding-client-investment-limits): According to SEC.gov, the Securities and Exchange Commission (SEC) has charged Merrill Lynch, Pierce, Fenner & Smith Inc., and Harvest Volatility Manag...
- [Macquarie Investment Management to Pay $79.8 Million for Overvalued CMOs and Unlawful Cross Trades](https://www.ecclestonlaw.com/eccleston-law-blog/macquarie-investment-management-to-pay-798-million-for-overvalued-cmos-and-unlawful-cross-trades): The U.S. Securities and Exchange Commission (SEC) has charged Macquarie Investment Management Business Trust (MIMBT) with overvaluing collateralized mortga...
- [SEC Charges First Horizon Advisors for Regulation Best Interest Violations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-first-horizon-advisors-for-regulation-best-interest-violations): The Securities and Exchange Commission (SEC) has charged First Horizon Advisors, LLC, a registered broker-dealer, with violating Regulation Best Interest (...
- [FINRA Penalizes Advisor for Falsifying Client Signatures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-penalizes-advisor-for-falsifying-client-signatures): FINRA has imposed a $7,500 fine and a one-year suspension on Richard Dean Connally.
- [Team Breakups Surge Among Financial Advisors Despite Firm Incentives](https://www.ecclestonlaw.com/eccleston-law-blog/team-breakups-surge-among-financial-advisors-despite-firm-incentives): In recent months, several high-profile departures have highlighted a growing trend: financial advisors are splitting from longtime teams and even family me...
- [SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-inspire-investing-with-misleading-investors-and-related-compliance-failures): The Securities and Exchange Commission (SEC) recently charged Inspire Investing LLC, an Idaho-based investment adviser, with making misleading statements a...
- [SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-11-firms-for-recordkeeping-failures-in-offchannel-communications): The Securities and Exchange Commission (SEC) continues its strict enforcement of recordkeeping requirements, fining 11 firms a combined $88.2 million for f...
- [NASAA Highlights Common Violations by State-Registered Investment Advisors](https://www.ecclestonlaw.com/eccleston-law-blog/nasaa-highlights-common-violations-by-stateregistered-investment-advisors): State securities regulators took significant enforcement actions in 2023, with many cases stemming from breaches of fiduciary duty and failures to register...
- [Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-lynch-advisor-sanctioned-for-unauthorized-crypto-work-and-misleading-letters): A former Merrill Lynch advisor, John Rollin Revelle, has been suspended for 10 months and fined $7,500 by the Financial Industry Regulatory Authority (FINR...
- [FINRA Suspends Former LPL Advisor for Unapproved Business Activities](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-lpl-advisor-for-unapproved-business-activities): FINRA has suspended a former LPL Financial advisor for one month and fined her $5,000 for engaging in unapproved outside business activities related to pro...
- [SEC Fines Thrivent Investment Management for Red BI Violations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-thrivent-investment-management-for-red-bi-violations): The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) i...
- [Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-ordered-to-pay-144-million-to-former-florida-advisor): A FINRA arbitration panel has ordered Wells Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida.
- [Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower](https://www.ecclestonlaw.com/eccleston-law-blog/massachusetts-court-grants-temporary-relief-in-age-discrimination-suit-against-hightower): A Massachusetts court has granted Glenn Frank, a 69-year-old advisor suing Hightower for age discrimination, a preliminary victory by temporarily blocking ...
- [FINRA Fines Osaic Wealth and Securities America for Cybersecurity Failures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-osaic-wealth-and-securities-america-for-cybersecurity-failures): The Financial Industry Regulatory Authority (FINRA) has fined and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity...
- [Former Advisor Barred by FINRA for Failing to Respond to Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-barred-by-finra-for-failing-to-respond-to-investigation): FINRA has permanently barred financial advisor Michael Charles Grande from working with any registered investment or advisory firms after he failed to coop...
- [Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting](https://www.ecclestonlaw.com/eccleston-law-blog/pershing-fined-14-million-for-inaccurate-interest-rate-reporting): Pershing has been fined $1.4 million by FINRA for disseminating account documents with inaccurate interest rate information.
- [LPL Financial Prepares for AML-Related SEC Settlement](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-prepares-for-amlrelated-sec-settlement): LPL Financial has set aside $18 million in anticipation of settling an ongoing Securities and Exchange Commission (SEC) investigation into its anti-money l...
- [SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-advisor-for-24-million-ponzi-scheme-targeting-elderly-investors): The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that de...
- [Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers](https://www.ecclestonlaw.com/eccleston-law-blog/fidelity-data-breach-exposes-sensitive-information-of-over-77000-customers): According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal da...
- [Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-faces-lawsuit-over-alleged-mishandling-of-premiumfinanced-life-insurance-plan): Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed index...
- [Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect](https://www.ecclestonlaw.com/eccleston-law-blog/charles-schwab-faces-multiple-lawsuits-alleging-elder-fraud-neglect): Charles Schwab and its affiliates are under scrutiny after recent lawsuits allege the firm failed to prevent scammers from defrauding elderly clients.
- [Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business](https://www.ecclestonlaw.com/eccleston-law-blog/kentucky-advisor-fined-and-suspended-for-undisclosed-bourbontasting-business): A Kentucky-based financial advisor accepted a $5,000 fine and a two-month suspension for operating a bourbon-tasting business without notifying his employe...
- [FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-fromer-merrill-lynch-advisor-over-relationship-with-elderly-client): The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance vi...
- [SIFMA Challenges CFP Board](https://www.ecclestonlaw.com/eccleston-law-blog/sifma-challenges-cfp-board): According to InvestmentNews, the Securities Industry and Financial Markets Association (SIFMA) released a whitepaper criticizing the Certified Financial Pl...
- [FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitrators-award-former-rbc-advisor-97-million-in-gender-and-age-discrimination-case): FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims.
- [Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Rule Violations](https://www.ecclestonlaw.com/eccleston-law-blog/wahed-invest-settles-sec-charges-over-undisclosed-endorsements-and-ad-rule-violations-): The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC’s ma...
- [Osaic Services Fined $250,000 for Supervisory Failures in Options Trading](https://www.ecclestonlaw.com/eccleston-law-blog/osaic-services-fined-250000-for-supervisory-failures-in-options-trading): Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive and unsuitabl...
- [Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/hightower-drops-claims-against-former-advisor-amid-noncompete-dispute): Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illinois was set ...
- [SEC Fines New Jersey Brokerage and RIA Firms $240,000 for Impending Client Reporting](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-new-jersey-brokerage-and-ria-firms-240000-for-impending-client-reporting): The Securities and Exchange Commission (SEC) has fined Nationwide Planning Associates, a New Jersey-based independent brokerage, and two affiliated registe...
- [B. Riley Sells Employee Wealth Management Group to Stifel](https://www.ecclestonlaw.com/eccleston-law-blog/b-riley-sells-employee-wealth-management-group-to-stifel): B. Riley Financial Inc. has announced the sale of part of its employee wealth management division to Stifel Financial Corp.
- [Osaic Advisor Fined and Suspended for Submitting False Bank Statements](https://www.ecclestonlaw.com/eccleston-law-blog/osaic-advisor-fined-and-suspended-for-submitting-false-bank-statements): AdvisorHub recently reported that the Financial Industry Regulatory Authority (FINRA) has imposed a $5,000 fine and a two-month suspension on Kalomira Zang...
- [Arizona Revokes Advisor's License for Misrepresenting High-Risk GPB Capital Investments](https://www.ecclestonlaw.com/eccleston-law-blog/arizona-revokes-advisors-license-for-misrepresenting-highrisk-gpb-capital-investments): The Arizona Corporation Commission has revoked the license of Scottsdale-based investment advisor representative Luke M. Johnson, who sold over $10 million...
- [Class Action Suits Target Major Banks Over Cash Sweep Programs](https://www.ecclestonlaw.com/eccleston-law-blog/class-action-suits-target-major-banks-over-cash-sweep-programs): Wells Fargo, Merrill Lynch, and Morgan Stanley face class action lawsuits alleging they exploited cash sweep programs to generate “massive revenue&rd...
- [Wells Fargo Terminates Advisor Over $60 Personal Expense](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-terminates-advisor-over-60-personal-expense): Wells Fargo Advisors recently terminated Charles J. Kraft, a 30-year industry veteran, over a $60 expense account infraction.
- [Client Associates Sue Firms Over Discrimination and Wrongful Termination](https://www.ecclestonlaw.com/eccleston-law-blog/client-associates-sue-firms-over-discrimination-and-wrongful-termination): Three former client associates have accused major financial institutions—Charles Schwab, Morgan Stanley, and Ameriprise Financial—of wrongful t...
- [Wells Fargo Advisors Ordered to Pay $500,000 for Misuse of Former Advisor's Name](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-advisors-ordered-to-pay-500000-for-misuse-of-former-advisors-name): Wells Fargo Advisors must pay nearly $500,000 in damages to Nicholas Takahashi, for allegedly using his name on their website long after he left for a comp...
- [SEC Charges Boca Raton Advisor with $2.1 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-boca-raton-advisor-with-21-million-fraud-scheme): The U.S. Securities and Exchange Commission (SEC) has charged David Kushner, a Boca Raton, Florida resident, and his company, La Mancha Funding Corp., with...
- [Former Tesla and Lyft Executive Launches ETF Firm](https://www.ecclestonlaw.com/eccleston-law-blog/former-tesla-and-lyft-executive-launches-etf-firm): Jon McNeill, a former executive at Tesla and Lyft and co-founder of venture firm DVx Ventures, has partnered with ETF pioneer Adam Patti to launch VistaSha...
- [Court Dismisses Whistleblower Lawsuit Against Fidelity Investments](https://www.ecclestonlaw.com/eccleston-law-blog/court-dismisses-whistleblower-lawsuit-against-fidelity-investments): A federal court has dismissed a whistleblower lawsuit filed by a former financial advisor against Fidelity Investments. According to ThinkAdvisor, the case...
- [Former Wells Fargo Advisor Pleads Guilty to $3 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-wells-fargo-advisor-pleads-guilty-to-3-million-fraud-scheme): A former Wells Fargo advisor, Kenneth A. Welsh, has pleaded guilty to charges of wire fraud and investment advisor fraud after stealing over $3 million fro...
- [Brokerage Firms Shift Away from Centralized Portfolio Management as Advisor Autonomy Grows](https://www.ecclestonlaw.com/eccleston-law-blog/brokerage-firms-shift-away-from-centralized-portfolio-management-as-advisor-autonomy-grows): After years of promoting centralized portfolio management, brokerage firms are increasingly supporting advisors who prefer more control over investment dec...
- [Paychex Securities Advisor Penalized for Undisclosed Referral Agreement with RIA](https://www.ecclestonlaw.com/eccleston-law-blog/paychex-securities-advisor-penalized-for-undisclosed-referral-agreement-with-ria): A former advisor has agreed to a $7,500 fine and a six-month suspension following allegations of failing to disclose a referral agreement with an outside r...
- [Merrill Lynch Advisor Penalized for CFP Exam Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-advisor-penalized-for-cfp-exam-misconduct): Jeffrey Dattilo, a former Merrill Lynch advisor, has agreed to regulatory penalties for allegedly providing improper assistance to others taking the Certif...
- [Wells Fargo Advisors Tightens Rules on FiNet Advisors' Outside Investments](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-advisors-tightens-rules-on-finet-advisors-outside-investments): Wells Fargo Advisors has introduced a new policy requiring advisors in its Financial Network (FiNet) channel to seek company approval before accepting cert...
- [Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades](https://www.ecclestonlaw.com/eccleston-law-blog/former-western-asset-management-cocio-charged-with-fraud-for-cherrypicking-trades): The SEC recently charged Ken Leech, former Co-CIO of Western Asset Management, with fraud.
- [SEC Fines Cantor Fitzgerald $6.75 Million for Misleading SPAC Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-cantor-fitzgerald-675-million-for-misleading-spac-investors): The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) under its c...
- [GPB Capital Investors See Progress as Court Confirms Receivership](https://www.ecclestonlaw.com/eccleston-law-blog/gpb-capital-investors-see-progress-as-court-confirms-receivership): In a significant development for investors in GPB Capital Holdings, the private equity firm will move into receivership following a prolonged legal battle.
- [FINRA Sanctions Over 60 Advisors for Continuing Education Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-over-60-advisors-for-continuing-education-violations): FINRA has disciplined 62 advisors for cheating on New York’s continuing education (CE) requirements tied to insurance license renewals.
- [Understanding Alternative Investments and Risk Management](https://www.ecclestonlaw.com/eccleston-law-blog/understanding-alternative-investments-and-risk-management): Alternative investments once again are gaining traction, according to a recent article in InvestmentNews.
- [Goldman Sachs Launches First-of-its-Kind Bond Securitization](https://www.ecclestonlaw.com/eccleston-law-blog/goldman-sachs-launches-firstofitskind-bond-securitization): Goldman Sachs recently introduced a $475 million asset-backed securitization (ABS) deal backed by capital-call loans, a type of financing Goldman provides ...
- [Next Level Holdings and Yield Wealth Under Federal and State Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/next-level-holdings-and-yield-wealth-under-federal-and-state-investigation): Federal and state authorities are investigating Next Level Holdings and Yield Wealth, two investment firms accused of offering high-yield financial product...
- [JPMorgan Fined $1.8 Million by Singapore Regulator for Misconduct in Bond Transactions](https://www.ecclestonlaw.com/eccleston-law-blog/jpmorgan-fined-18-million-by-singapore-regulator-for-misconduct-in-bond-transactions): The Monetary Authority of Singapore (MAS) fined JPMorgan Chase & Co. $1.8 million for failing to prevent and detect misconduct by its relationship mana...
- [Former Morgan Stanley Advisor Sanctioned for Undisclosed Hotel Business](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-sanctioned-for-undisclosed-hotel-business): FINRA has fined Chris S. Stocks, a former Morgan Stanley advisor, $10,000 and suspended him for 30 days for failing to disclose his involvement in a hotel ...
- [Merrill Lynch Agrees to $4.9 Million Settlement in Overtime Pay Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-agrees-to-49-million-settlement-in-overtime-pay-dispute): Merrill Lynch will pay $4.9 million to resolve a class action lawsuit filed by current and former salaried Financial Solutions Advisors (FSAs) who alleged ...
- [Former Advisor Faces Lawsuit Over Mishandling of Premium-Financed Life Insurance Plan](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-faces-lawsuit-over-mishandling-of-premiumfinanced-life-insurance-plan): Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed index...
- [FINRA Arbitration Panel Clears Advisor's Record of Defamatory Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-panel-clears-advisors-record-of-defamatory-allegations): A FINRA arbitration panel has ruled in favor of Mary J. Howard, a former RBC Wealth Management advisor, allowing her to expunge defamatory allegations from...
- [Former Merrill Lynch Executives Launch Indivisible Partners, a New Independent Advisory Firm](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-lynch-executives-launch-indivisible-partners-a-new-independent-advisory-firm): John W. Thiel, the former head of Merrill Lynch Wealth Management, has announced plans to launch Indivisible Partners, an independent registered investment...
- [Jefferies Financial Group Terminates Employment of Miami Team for Alleged Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/jefferies-financial-group-terminates-employment-of-miami-team-for-alleged-misconduct): According to Form U-5 filings, Jefferies Financial Group recently terminated a group of Miami-based wealth advisors allegedly after uncovering improper mon...
- [SEC Charges Nigerian Trio for Impersonating Financial Professionals in $2.9 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-nigerian-trio-for-impersonating-financial-professionals-in-29-million-fraud-scheme): The Securities and Exchange Commission (SEC) has charged three individuals from Nigeria with orchestrating an elaborate online fraud scheme, stealing the i...
- [Former Merrill Lynch Advisor Wins Expungement of Allegations Tied to CBD Business](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-lynch-advisor-wins-expungement-of-allegations-tied-to-cbd-business): Charles Thomas “Todd” Mercer Jr., a former top Merrill Lynch advisor, successfully cleared his public record of allegations that hindered his a...
- [FINRA Suspends and Fines Advisor for Misleading L Bond Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-and-fines-advisor-for-misleading-l-bond-sales): The Financial Industry Regulatory Authority (FINRA) has suspended and fined Alan Mason for violating Regulation Best Interest by recommending high-risk L b...
- [Wells Fargo and LPL Financial Settle SEC Charges Over Blue Sheet Reporting Errors](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-and-lpl-financial-settle-sec-charges-over-blue-sheet-reporting-errors): The Securities and Exchange Commission (SEC) announced settlements with Wells Fargo Clearing Services and LPL Financial, each agreeing to pay a $900,000 pe...
- [FINRA Orders $8.2 Million in Customer Restitution Over Mutual Fund Fee Errors](https://www.ecclestonlaw.com/eccleston-law-blog/finra-orders-82-million-in-customer-restitution-over-mutual-fund-fee-errors): FINRA has required Edward Jones, Osaic Wealth, and Cambridge Investment Research to reimburse customers a combined total of more than $8.2 million for impr...
- [FINRA to Revise Outside Business Activities Rules](https://www.ecclestonlaw.com/eccleston-law-blog/finra-to-revise-outside-business-activities-rules): The Financial Industry Regulatory Authority (FINRA) is seeking to overhaul its rules on outside business activities (OBA) and private securities transactio...
- [Barred Advisor Continues Pattern of Settlements at Western International Securities](https://www.ecclestonlaw.com/eccleston-law-blog/barred-advisor-continues-pattern-of-settlements-at-western-international-securities): Chris Kennedy, a barred advisor formerly associated with Western International Securities, has agreed to a $2.1 million settlement with the Securities and ...
- [Fidelity to Shift Independent Advisor Cash to Lower-Yielding FCash Amount in 2025](https://www.ecclestonlaw.com/eccleston-law-blog/fidelity-to-shift-independent-advisor-cash-to-loweryielding-fcash-amount-in-2025): Fidelity Investments plans to redirect cash balances in non-retirement brokerage accounts managed by independent financial advisors to its in-house sweep a...
- [Gemini Settles $5 Million Case With CFTC Over Misleading Statements](https://www.ecclestonlaw.com/eccleston-law-blog/gemini-settles-5-million-case-with-cftc-over-misleading-statements): Crypto exchange Gemini has agreed to pay $5 million to settle allegations by the U.S. Commodity Futures Trading Commission (CFTC) that it made misleading s...
- [Former Financial Advisor Sentenced to Prison for $2.5 Million Investment Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-financial-advisor-sentenced-to-prison-for-25-million-investment-fraud-scheme): According to InvestmentNews, a former financial advisor from Wisconsin, David Braeger, has been sentenced to 24 months in federal prison for an investment ...
- [Robinhood to Pay $45 Million for Multiple Securities Law Violations](https://www.ecclestonlaw.com/eccleston-law-blog/robinhood-to-pay-45-million-for-multiple-securities-law-violations): Robinhood Securities LLC and Robinhood Financial LLC have agreed to pay $45 million to resolve allegations of widespread securities law violations. Accordi...
- [Two Sigma Settles SEC Charges for Investment Model Failures and Whistleblower Rule Violations](https://www.ecclestonlaw.com/eccleston-law-blog/two-sigma-settles-sec-charges-for-investment-model-failures-and-whistleblower-rule-violations): According to SEC.gov, the Securities and Exchange Commission (SEC) recently announced that Two Sigma Investments LP and Two Sigma Advisers LP (collectively...
- [UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-settles-finra-claims-over-supervision-of-shortterm-preferred-stock-trades): According to AdvisorHub, UBS Wealth Management USA’s broker-dealer has agreed to pay $3.5 million in sanctions over allegations of supervis...
- [Bank of America Agrees to Consent Order Over Anti-Money-Laundering Deficiencies](https://www.ecclestonlaw.com/eccleston-law-blog/bank-of-america-agrees-to-consent-order-over-antimoneylaundering-deficiencies): Bank of America Corp. has entered into a consent order with the Office of the Comptroller of the Currency (OCC) to address deficiencies in its anti-money-l...
- [Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-faces-337-million-finra-award-over-alleged-elder-exploitation): A FINRA arbitration panel has ordered Wells Fargo Clearing Services and its advisor, Stephen L. Smith, to pay approximately $3.37 million in damages to the...
- [SEC Forms Cryptocurrency Task Force to Develop Clear Regulatory Framework](https://www.ecclestonlaw.com/eccleston-law-blog/sec-forms-cryptocurrency-task-force-to-develop-clear-regulatory-framework): According to ThinkAdvisor, the U.S. Securities and Exchange Commission (SEC) has announced the creation of a cryptocurrency-focused task force to establish...
- [Vanguard Settles SEC Charges Over Target Date Fund Disclosures for $106 Million](https://www.ecclestonlaw.com/eccleston-law-blog/vanguard-settles-sec-charges-over-target-date-fund-disclosures-for-106-million): Vanguard has agreed to pay $106.41 million to settle charges by the Securities and Exchange Commission (SEC) over alleged disclosure failures related to it...
- [SEC Charges LPL Financial with Anti-Money Laundering Failures](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-lpl-financial-with-antimoney-laundering-failures): The Securities and Exchange Commission (SEC) has charged LPL Financial LLC, a broker-dealer and investment adviser, with multiple violations of anti-money ...
- [Court Finds American Airlines Breached Fiduciary Duty in 401(k) ESG Case](https://www.ecclestonlaw.com/eccleston-law-blog/court-finds-american-airlines-breached-fiduciary-duty-in-401k-esg-case): A federal court ruling against American Airlines has brought attention to the role of environmental, social, and governance (ESG) factors in managing retir...
- [Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-lynch-advisor-sanctioned-by-finra-for-unauthorized-trades): FINRA has fined Anthony J. Seifert, a former Merrill Lynch advisor based in Mount Pleasant, South Carolina, $5,000 and suspended him for 20 days.
- [UnitedHealth Group Agrees to $69 Million Settlement in ERISA Class Action Lawsuit](https://www.ecclestonlaw.com/eccleston-law-blog/unitedhealth-group-agrees-to-69-million-settlement-in-erisa-class-action-lawsuit): UnitedHealth Group has agreed to pay $69 million to resolve a class action lawsuit alleging violations of its fiduciary duties under the Employee Retiremen...
- [Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes](https://www.ecclestonlaw.com/eccleston-law-blog/edward-jones-advisor-barred-by-finra-over-allegations-of-unauthorized-account-changes): FINRA has barred Gwendolyn J. Hayes, a former Edward Jones advisor in Oregon after allegations surfaced that she altered client account information without...
- [FINRA Panel Denies J.P. Morgan's $39.7 Million Claim Against Former Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/finra-panel-denies-jp-morgans-397-million-claim-against-former-advisor): A FINRA arbitration panel recently rejected J.P. Morgan Securities’ bid to recover $39.7 million in damages from Edward Turley, a former financial ad...
- [Jefferies Financial Group Dismisses Miami Advisory Team Amid Alleged Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/jefferies-financial-group-dismisses-miami-advisory-team-amid-alleged-misconduct): Jefferies Financial Group recently terminated a team of Miami-based wealth advisors following allegations of improper money transfers and the use of unauth...
- [Regulatory Spotlight on AI in Financial Advising: Risks, Opportunities, and Compliance Needs](https://www.ecclestonlaw.com/eccleston-law-blog/regulatory-spotlight-on-ai-in-financial-advising-risks-opportunities-and-compliance-needs): Artificial intelligence (AI) tools, including large language models (LLMs), present both promising opportunities and notable risks for financial advisors. ...
- [FINRA Highlights Compliance Priorities for 2025](https://www.ecclestonlaw.com/eccleston-law-blog/finra-highlights-compliance-priorities-for-2025): The Financial Industry Regulatory Authority (FINRA) has released its annual regulatory oversight report, emphasizing key compliance concerns for broker-dea...
- [Former Rubicon Wealth Management President Pleads Guilty to Fraud Charges](https://www.ecclestonlaw.com/eccleston-law-blog/former-rubicon-wealth-management-president-pleads-guilty-to-fraud-charges): Scott Mason, former president of Rubicon Wealth Management, pleaded guilty to multiple fraud charges after federal prosecutors accused him of misappropriat...
- [Vanguard Settles SEC Allegations Over Misleading Statements on Tax Implications](https://www.ecclestonlaw.com/eccleston-law-blog/vanguard-settles-sec-allegations-over-misleading-statements-on-tax-implications): Vanguard Group has agreed to pay over $106 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that it misled retail investo...
- [Financial Advisor Accepts Suspension and Fine for Misrepresenting Continuing Education Compliance](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisor-accepts-suspension-and-fine-for-misrepresenting-continuing-education-compliance): A financial advisor affiliated with Equity Services Inc. (ESI) has agreed to a one-month suspension and a $5,000 fine after the Financial Industry Regulato...
- [Wells Fargo to Strengthen Financial Crimes Risk Management Amid Regulatory Agreement](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-to-strengthen-financial-crimes-risk-management-amid-regulatory-agreement): Wells Fargo has agreed with U.S. banking regulators to enhance its financial crime risk management practices, including tightening controls over suspicious...
- [FINRA Highlights Risks of Investing Home Equity Loan Proceeds](https://www.ecclestonlaw.com/eccleston-law-blog/finra-highlights-risks-of-investing-home-equity-loan-proceeds): FINRA issued a reminder to financial advisors to carefully consider customers’ time horizons and risk tolerance, particularly when recommending inves...
- [Sharp Drop in FINRA Expungement Requests as New Rules Take Effect](https://www.ecclestonlaw.com/eccleston-law-blog/sharp-drop-in-finra-expungement-requests-as-new-rules-take-effect): The number of brokers seeking to expunge customer complaints and other disclosures from their public records through FINRA’s arbitration forum has pl...
- [Arbitration Panel Orders Morgan Stanley to Pay $843,000 for Failing to Protect Elderly Client from Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/arbitration-panel-orders-morgan-stanley-to-pay-843000-for-failing-to-protect-elderly-client-from-fraud): A FINRA arbitration panel has ordered Morgan Stanley to pay $843,000 in compensatory damages to a senior client residing in Florida for failing to protect ...
- [SEC Sanctions One Oak Capital and Advisor for Improper Conversions to Fee Based Accounts](https://www.ecclestonlaw.com/eccleston-law-blog/sec-sanctions-one-oak-capital-and-advisor-for-improper-conversions-to-fee-based-accounts): The Securities and Exchange Commission (SEC) has penalized a New York-based registered investment adviser and its veteran adviser for converting brokerage ...
- [UBS Warns of Increased Advisor Departures Following Compensation Overhaul](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-warns-of-increased-advisor-departures-following-compensation-overhaul): UBS Group AG executives cautioned that the firm may see a rise in advisor departures this year due to changes in its 2025 compensation plan.
- [Federal Judge Strikes Down Hightower's Non-Compete Agreement in California](https://www.ecclestonlaw.com/eccleston-law-blog/federal-judge-strikes-down-hightowers-noncompete-agreement-in-california): A federal judge in Wilmington, Delaware, ruled against Hightower Advisors in its effort to enforce non-compete agreements against a former advisor in Calif...
- [Morgan Stanley Advisor Wins Expungement Under FINRA's Stricter Rules](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-advisor-wins-expungement-under-finras-stricter-rules): A FINRA arbitration panel granted a financial advisor’s request to expunge a 2022 customer complaint from her record, marking another test of FINRA&r...
- [FINRA Fines Newbridge Securities $105,000 for Failing to Supervise Margin Trading](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-newbridge-securities-105000-for-failing-to-supervise-margin-trading): Newbridge Securities Corp., an independent broker-dealer based in Boca Raton, Florida, has agreed to pay a $105,000 penalty for failing to supervise financ...
- [FINRA Orders $8.2 Million in Restitution for Mutual Fund Customers](https://www.ecclestonlaw.com/eccleston-law-blog/finra-orders-82-million-in-restitution-for-mutual-fund-customers): FINRA has directed Edward Jones, Osaic Wealth, Inc., and Cambridge Investment Research, Inc. to pay more than $8.2 million in restitution to customers harm...
- [Wells Fargo and Merrill Lynch Settle SEC Charges Over Cash Sweep Program Policies](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-and-merrill-lynch-settle-sec-charges-over-cash-sweep-program-policies): The Securities and Exchange Commission (SEC) has announced settlements with Wells Fargo Clearing Services LLC, Wells Fargo Advisors Financial Network LLC, ...
- [Former CNBC Analyst Pleads Guilty to $2.7 Million Securities Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-cnbc-analyst-pleads-guilty-to-27-million-securities-fraud-scheme): James Arthur McDonald Jr., a former financial advisor and frequent CNBC guest analyst, has agreed to plead guilty to securities fraud, admitting to defraud...
- [GPB Capital Investors May Receive Some Compensation Under Proposed Distribution Plan](https://www.ecclestonlaw.com/eccleston-law-blog/gpb-capital-investors-may-receive-some-compensation-under-proposed-distribution-plan): GPB Capital Holdings investors have not received returns on their investments since 2018. According to InvestmentNews, after years of litigation, a court-a...
- [Congress Considers Expanding the Accredited Investor Definition](https://www.ecclestonlaw.com/eccleston-law-blog/congress-considers-expanding-the-accredited-investor-definition): A recent congressional hearing examined potential reforms to the accredited investor definition, a critical threshold determining who can participate in pr...
- [Apex Clearing to Pay $3.2 Million in FINRA Settlement Over Securities Lending Violations](https://www.ecclestonlaw.com/eccleston-law-blog/apex-clearing-to-pay-32-million-in-finra-settlement-over-securities-lending-violations): Apex Clearing, the clearing arm of Apex Fintech Solutions, has agreed to pay $3.2 million to settle FINRA allegations that it failed to ensure customers re...
- [FINRA Disciplinary Actions Rise for the First Time Since 2016](https://www.ecclestonlaw.com/eccleston-law-blog/finra-disciplinary-actions-rise-for-the-first-time-since-2016): The Financial Industry Regulatory Authority (FINRA) increased its enforcement actions in 2024, marking the first rise in disciplinary cases since 2016, as ...
- [Advisor Ordered to Pay $17.7 Million Over unsuitable REIT Sales](https://www.ecclestonlaw.com/eccleston-law-blog/advisor-ordered-to-pay-177-million-over-unsuitable-reit-sales): A FINRA arbitration panel has ordered former advisor Mark Sam Kolta to pay nearly $17.7 million in damages, plus interest and costs, to his former firm, Na...
- [FINRA Enforcement Actions in 2024: Fines Drop But Cases Increase](https://www.ecclestonlaw.com/eccleston-law-blog/finra-enforcement-actions-in-2024-fines-drop-but-cases-increase): The Financial Industry Regulatory Authority (FINRA) imposed $59 million in fines in 2024, reflecting a 35 percent decrease from the previous year, accordin...
- [Stifel Loses Raiding Case, Ordered to Pay Over $7 Million in Legal Fees](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-loses-raiding-case-ordered-to-pay-over-7-million-in-legal-fees): Stifel Financial has lost its raiding and breach-of-contract claim against a group of advisors who left its Indianapolis office to establish their own firm...
- [SEC Updates Marketing Rule Guidance to Clarify Extracted Performance and Portfolio Metrics](https://www.ecclestonlaw.com/eccleston-law-blog/sec-updates-marketing-rule-guidance-to-clarify-extracted-performance-and-portfolio-metrics): The Securities and Exchange Commission (SEC) has issued updated guidance on its marketing rule, addressing industry concerns regarding net performance requ...
- [Merrill Lynch Advisor Sanctioned for Unauthorized Trading](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-advisor-sanctioned-for-unauthorized-trading): FINRA has fined a former Merrill Lynch advisor $5,000 and suspended the advisor for 30 days for executing unauthorized trades...
- [Pennsylvania Investor Sues Captrust Over $360,000 Phishing Scam Loss](https://www.ecclestonlaw.com/eccleston-law-blog/pennsylvania-investor-sues-captrust-over-360000-phishing-scam-loss): A Pennsylvania investor has filed suit against Captrust Financial Advisors, alleging the firm failed to act swiftly in stopping a scam that drained her ret...
- [Former Edward Jones Advisor Barred After Refusing to Cooperate with FINRA Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/former-edward-jones-advisor-barred-after-refusing-to-cooperate-with-finra-investigation): A former Edward Jones advisor, James A. Bowman, has accepted an industry bar rather than cooperate with a Financial Industry Regulatory Authority (FINRA) i...
- [FINRA Fines Robinhood $26 Million for Compliance Failures](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-robinhood-26-million-for-compliance-failures): According to Barron’s, FINRA has fined Robinhood Financial and Robinhood Securities $26 million for multiple rule violations, including failures in a...
- [FINRA Arbitration Orders Stifel to Pay $133 Million Over Broker's Structured Note Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/finra-arbitration-orders-stifel-to-pay-133-million-over-brokers-structured-note-strategy): A FINRA arbitration panel has ordered Stifel Financial’s retail broker-dealer to pay nearly $133 million in damages related to a structured note inve...
- [Margin Debt Hits Record Highs](https://www.ecclestonlaw.com/eccleston-law-blog/margin-debt-hits-record-highs): Investors' use of margin trading has surged to unprecedented levels, with debit balances in margin accounts reaching a record $937 billion as of January 20...
- [CFP Board Releases AI Ethics Guide for Its Certificants](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-releases-ai-ethics-guide-for-its-certificants): The CFP Board has released a
- [Bybit Suffers Massive $1.5 Billion Crypto Hack Amid Security Concerns](https://www.ecclestonlaw.com/eccleston-law-blog/bybit-suffers-massive-15-billion-crypto-hack-amid-security-concerns): Bybit, a major cryptocurrency exchange, has fallen victim to a devastating security breach, resulting in the theft of approximately $1.5 billion in Ethereu...
- [FINRA Seeks Public Input on Rule Modernization](https://www.ecclestonlaw.com/eccleston-law-blog/finra-seeks-public-input-on-rule-modernization): The Financial Industry Regulatory Authority (FINRA) is conducting a comprehensive review of its rules and is soliciting feedback from industry participants...
- [LPL Financial Experiences Trading System Outage Amid Market Volatility](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-experiences-trading-system-outage-amid-market-volatility): LPL Financial, the largest independent broker-dealer in the U.S., experienced widespread system outages on April 3rd, preventing advisors from executing tr...
- [CFTC Unveils New Guidelines to Reward Cooperation and Self-Reporting in Enforcement Actions](https://www.ecclestonlaw.com/eccleston-law-blog/cftc-unveils-new-guidelines-to-reward-cooperation-and-selfreporting-in-enforcement-actions-): The U.S. Commodity Futures Trading Commission (CFTC) has issued a new advisory that formalizes how it will evaluate cooperation and self-reporting when det...
- [CFP Board Seeks Public Input on Changes to Certification Rules](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-seeks-public-input-on-changes-to-certification-rules): The CFP Board is requesting public comment on proposed revisions to its procedural rules regarding certification eligibility for candidates with a single b...
- [Commonwealth Financial and Former Edward Jones Advisors Ordered to Pay $3.5 Million in Arbitration Award](https://www.ecclestonlaw.com/eccleston-law-blog/commonwealth-financial-and-former-edward-jones-advisors-ordered-to-pay-35-million-in-arbitration-award): An arbitration panel has ordered independent broker-dealer Commonwealth Financial and a group of advisors formerly with Edward D. Jones & Co. to pay $3...
- [Vanguard Faces Class Action Lawsuit Over $100 Account Closure Fee](https://www.ecclestonlaw.com/eccleston-law-blog/vanguard-faces-class-action-lawsuit-over-100-account-closure-fee): Vanguard is facing a federal class-action lawsuit over a $100 fee imposed on brokerage customers who close their accounts and transfer funds to another fir...
- [FINRA Bars Advisor for Raising $11 Million in Unapproved Private Investments](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-advisor-for-raising-11-million-in-unapproved-private-investments): The Financial Industry Regulatory Authority (FINRA) has barred a 21-year industry veteran for engaging in unapproved private securities transactions totali...
- [Former UBS Advisors Sue Firm Over Unpaid Wages and Business Expense Deductions](https://www.ecclestonlaw.com/eccleston-law-blog/former-ubs-advisors-sue-firm-over-unpaid-wages-and-business-expense-deductions): Two former UBS financial advisors have filed a class action lawsuit accusing UBS of failing to reimburse necessary business expenses, unlawfully deducting ...
- [Stifel Ordered to Pay $133 Million in FINRA Arbitration](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-ordered-to-pay-133-million-in-finra-arbitration): Stifel Financial’s retail broker-dealer must pay nearly $133 million in damages following a FINRA arbitration tied to Miami-based advisors' structure...
- [GWG Bondholders Offered Settlement Worth Just Cents on the Dollar](https://www.ecclestonlaw.com/eccleston-law-blog/gwg-bondholders-offered-settlement-worth-just-cents-on-the-dollar): Distressed investors who purchased $1.6 billion in GWG L bonds may soon receive a small fraction of their original investment under a proposed settlement.
- [SEC Charges Hedge Fund Founder with Fraud in $4 Million Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-hedge-fund-founder-with-fraud-in-4-million-scheme): The Securities and Exchange Commission (SEC) has charged Alan Burak, founder of Never Alone Capital LLC, with orchestrating a fraudulent investment scheme ...
- [Robinhood Markets Faces Scrutiny in Massachusetts Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/robinhood-markets-faces-scrutiny-in-massachusetts-investigation): Massachusetts Secretary of State Bill Galvin has issued a subpoena to Robinhood Markets Inc., seeking information on the firm’s prediction-markets bu...
- [Former Morgan Stanley Advisor Sentenced to 12 Years in Prison for Multimillion-Dollar Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-sentenced-to-12-years-in-prison-for-multimilliondollar-fraud): Jesus Rodriguez de la Cruz, a former Morgan Stanley advisor, has been sentenced to 12 years in federal prison for orchestrating a complex fraud scheme that...
- [FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly](https://www.ecclestonlaw.com/eccleston-law-blog/finra-proposes-accelerated-arbitration-for-ill-parties-and-elderly): The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedi...
- [Ex-Merrill Lynch Advisor to Appeal Ruling Dismissing ERISA Class Action](https://www.ecclestonlaw.com/eccleston-law-blog/exmerrill-lynch-advisor-to-appeal-ruling-dismissing-erisa-class-action): A former Merrill Lynch advisor plans to challenge a federal judge’s ruling that dismissed his proposed class action against the firm when it forfeite...
- [SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-upright-financial-and-founder-of-breaching-prior-settlement-and-misleading-investors): According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. a...
- [Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/rosedale-advisory-firm-fined-for-role-in-ncaa-player-referral-bribery-scheme): The Securities and Exchange Commission (SEC) has finalized a cease-and-desist proceeding against Rosedale, a former SEC-registered investment adviser, for ...
- [Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-barred-after-fraudulent-check-allegations): Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, ...
- [Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-fires-veteran-advisor-for-ignoring-mandated-commission-discounts): Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructe...
- [Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations](https://www.ecclestonlaw.com/eccleston-law-blog/cambridge-investment-research-advisors-to-pay-15-million-fine-over-undisclosed-conflicts-in-investment-recommendations): Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), ...
- [FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-sanctuary-wealth-150000-for-aml-program-deficiencies): FINRA has fined and censured independent broker-dealer Sanctuary Wealth Management $150,000 for failing to establish an adequate anti-money laundering (AML...
- [Former Edward Jones Broker Indicted for Defrauding Elderly Widow](https://www.ecclestonlaw.com/eccleston-law-blog/former-edward-jones-broker-indicted-for-defrauding-elderly-widow): Federal prosecutors have indicted a former Edward Jones financial advisor on charges of wire fraud, mail fraud, money laundering, and tax violations after ...
- [FINRA Suspends Former TD Securities Representative for Improper Expense Charges](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-td-securities-representative-for-improper-expense-charges): FINRA has suspended former TD Securities representative Kate Yumi Lam for 12 months and fined her $10,000 for improperly charging personal commuting and me...
- [SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-three-individuals-in-284-million-arizona-sports-complex-bond-fraud-by-legacy-cares): The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga...
- [Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions](https://www.ecclestonlaw.com/eccleston-law-blog/jury-finds-investment-advisor-liable-for-failing-to-disclose-annuity-commissions): A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities l...
- [All 50 States Now Aligned on Annuity Sales Standards](https://www.ecclestonlaw.com/eccleston-law-blog/all-50-states-now-aligned-on-annuity-sales-standards): The annuity industry officially has secured uniformity in sales regulations across all 50 states.
- [FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-wells-fargo-advisor-over-unauthorized-transfer-in-elderly-clients-account): FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite bei...
- [FINRA Clarifies Proposed Changes to Outside Activities Rule](https://www.ecclestonlaw.com/eccleston-law-blog/finra-clarifies-proposed-changes-to-outside-activities-rule): FINRA released a statement this week addressing misconceptions surrounding its proposed updates to the rules governing outside business activities by assoc...
- [Merrill's Investment Solutions Chief Outlines Growing Role for Alternatives in Client Portfolios](https://www.ecclestonlaw.com/eccleston-law-blog/merrills-investment-solutions-chief-outlines-growing-role-for-alternatives-in-client-portfolios): At Merrill and Bank of America Private Bank, alternative investments have become a core focus of portfolio construction, according to Financial Planning.
- [SEC Charges Crypto Promoter in $198 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-crypto-promoter-in-198-million-fraud-scheme): The Securities and Exchange Commission (“SEC”) has charged Ramil Palafox for orchestrating a massive securities fraud scheme through his now-de...
- [FINRA Suspends Former Raymond James Broker Over Unauthorized Trades in Elderly Client's Account](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-raymond-james-broker-over-unauthorized-trades-in-elderly-clients-account): FINRA has suspended a former Raymond James advisor for three months and ordered him to pay over $23,000 in fines and disgorgement for executing unauthorize...
- [Founder of AML Bitcoin Convicted in $5 Million Cryptocurrency Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/founder-of-aml-bitcoin-convicted-in-5-million-cryptocurrency-fraud-scheme): A California federal jury has convicted Rowland Marcus Andrade, the founder of AML Bitcoin, on charges of wire fraud and money laundering.
- [The Lower Barriers and Higher Risks of Private Market Investing](https://www.ecclestonlaw.com/eccleston-law-blog/the-lower-barriers-and-higher-risks-of-private-market-investing-): Investing in private companies is becoming more accessible—but whether that is a good thing remains up for debate.
- [IRS Clarifies Theft Loss Deductions for Scam Victims Amid Rising Fraud Risks](https://www.ecclestonlaw.com/eccleston-law-blog/irs-clarifies-theft-loss-deductions-for-scam-victims-amid-rising-fraud-risks): The IRS has issued new guidance clarifying when victims of financial scams can claim theft loss deductions on their taxes. According to Financial Planning,...
- [Wave of ERISA Class Actions Challenges 401(k) Plan Practices](https://www.ecclestonlaw.com/eccleston-law-blog/wave-of-erisa-class-actions-challenges-401k-plan-practices): A surge in class action lawsuits under the Employee Retirement Income Security Act (ERISA) is forcing employers to reevaluate how they manage workplace ret...
- [Morgan Stanley Terminates Veteran Financial Advisor Over Real Estate Deal](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-terminates-veteran-financial-advisor-over-real-estate-deal-): Morgan Stanley has terminated advisor Erich A. Canseco, a 17-year industry veteran whose Houston-based team managed $1 billion in assets and earned recogni...
- [Federal Judge Rejects Vanguard’s $40 Million Class Settlement, Citing Better Outcome Under SEC Deal](https://www.ecclestonlaw.com/eccleston-law-blog/federal-judge-rejects-vanguards-40-million-class-settlement-citing-better-outcome-under-sec-deal): A federal judge has rejected a proposed $40 million class-action settlement with Vanguard, finding that the deal offered little to no real value to harmed ...
- [FINRA Opens Examination Into B. Riley's Wealth Management Operations Amid Ongoing Regulatory Pressure](https://www.ecclestonlaw.com/eccleston-law-blog/finra-opens-examination-into-b-rileys-wealth-management-operations-amid-ongoing-regulatory-pressure): B. Riley Financial Inc. continues to draw regulatory attention, with the firm recently disclosing that FINRA has launched a cause examination into its weal...
- [SEC Charges Three Texas Residents in $91 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-three-texas-residents-in-91-million-ponzi-scheme): The Securities and Exchange Commission (“SEC”) has filed charges against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, all ...
- [FINRA Sanctions Former Broker for Undisclosed Private Equity and Securities Activities](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-former-broker-for-undisclosed-private-equity-and-securities-activities): FINRA has sanctioned former registered representative Thomas A. Rapp for engaging in undisclosed outside business and private securities transactions while...
- [Former LPL Advisor Sanctioned by FINRA Over Undisclosed Real Estate Venture](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-advisor-sanctioned-by-finra-over-undisclosed-real-estate-venture): FINRA has fined a former LPL Financial advisor and suspended him for three months after allegations surfaced that he operated a real estate development bus...
- [Revenue Sharing in Wealth Management Continues Despite Criticism](https://www.ecclestonlaw.com/eccleston-law-blog/revenue-sharing-in-wealth-management-continues-despite-criticism): Revenue sharing remains one of the wealth management industry’s most controversial and opaque practices.
- [Former Merrill Edge Advisor Barred by FINRA Amid Misappropriation Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-edge-advisor-barred-by-finra-amid-misappropriation-allegations-): FINRA has barred Mario L. Martinez, a market leader with Merrill Edge in Fort Lauderdale, Florida, after he declined to cooperate with a regulatory investi...
- [Jury Finds Cutter Financial Group Liable for Disclosure Failures in Annuity Sales](https://www.ecclestonlaw.com/eccleston-law-blog/jury-finds-cutter-financial-group-liable-for-disclosure-failures-in-annuity-sales): A federal jury in Massachusetts has found investment advisor Jeffrey Cutter and his firm, Cutter Financial Group, liable for failing to disclose significan...
- [UBS Seeks to Overturn $95 Million FINRA Award Over Tesla Shorting Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-seeks-to-overturn-95-million-finra-award-over-tesla-shorting-strategy): UBS Wealth Management USA has filed a petition in federal court to vacate a nearly $95 million FINRA arbitration award, arguing the decision overstepped le...
- [FINRA Sanctions Former Broker for Unsuitable, High-Risk GWG Bond Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-former-broker-for-unsuitable-highrisk-gwg-bond-sales): The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former advisor for what FINRA alleged were excessively risky investments that...
- [Investor Sues Both Schwab and Hightower Over Pledged Asset Line](https://www.ecclestonlaw.com/eccleston-law-blog/investor-sues-both-schwab-and-hightower-over-pledged-asset-line): A retiree has filed a lawsuit accusing Charles Schwab & Co. and Hightower Advisors of financial elder abuse, fraud, and breach of fiduciary duty.
- [CFP Board Announces Certification Fee Increase](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-announces-certification-fee-increase): The CFP Board of Directors has approved a $120 increase to the annual certification fee for CFP® professionals, raising the total to $575.
- [Former Morgan Stanley Advisor Banned for Profit-Sharing Scheme and Policy Violations](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisor-banned-for-profitsharing-scheme-and-policy-violations): Joseph A. Eisler has agreed to a permanent ban from the brokerage industry, according to a recent settlement with the Financial Industry Regulatory Authori...
- [New York Tax Preparer Charged in $50 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/new-york-tax-preparer-charged-in-50-million-ponzi-scheme): New York’s Attorney General announced the arrest of Miles Burton Marshall, an upstate New York tax preparer and insurance agent accused of orchestrat...
- [GPB Capital Executives Sentenced for Fraud in Private Placement Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/gpb-capital-executives-sentenced-for-fraud-in-private-placement-scheme): Two former top executives at GPB Capital Holdings received prison sentences for their roles in a years-long investment fraud scheme.
- [FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-former-advisor-for-unsuitable-variable-annuity-exchanges): The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendatio...
- [Audit Firms Agree to $46 Million Settlement in GPB Capital Fraud Case](https://www.ecclestonlaw.com/eccleston-law-blog/audit-firms-agree-to-46-million-settlement-in-gpb-capital-fraud-case): In a significant development in the GPB Capital fraud litigation, several audit firms have agreed to pay a combined $46 million to settle claims tied to th...
- [SEC Charges Former Real Estate CEO in $46 Million Investment Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-former-real-estate-ceo-in-46-million-investment-fraud-scheme): The Securities and Exchange Commission (“SEC”) has charged Kenneth Mattson, former CEO of LeFever Mattson, with orchestrating a $46 million inv...
- [FINRA Fines AAG Capital for RILA Exchange Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-aag-capital-for-rila-exchange-violations): The Financial Industry Regulatory Authority (“FINRA”) has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution ...
- [Dr. Cash Sentenced for Defrauding Retirees](https://www.ecclestonlaw.com/eccleston-law-blog/dr-cash-sentenced-for-defrauding-retirees): Terrence Chalk, an unregistered investment advisor who operated under the alias “Dr. Cash,” has been sentenced to three years in prison for orc...
- [FINRA Fines and Suspends Advisor for Selling Away and Receiving Client Loans](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-and-suspends-advisor-for-selling-away-and-receiving-client-loans): The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Jose Antonio “Tony” Navarro for selling unapproved investments...
- [SEC Charges Marine Veteran in $2.5 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-marine-veteran-in-25-million-ponzi-scheme): The Securities and Exchange Commission (“SEC”) has charged Marine Corps veteran Christopher Aubin with fraud, accusing him of running a $2.5 mi...
- [FINRA Sanctions Advisor for Accepting $1 Million Inheritance from Client Without Firm Approval](https://www.ecclestonlaw.com/eccleston-law-blog/finra-sanctions-advisor-for-accepting-1-million-inheritance-from-client-without-firm-approval): FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm app...
- [SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches](https://www.ecclestonlaw.com/eccleston-law-blog/sec-charges-new-mexico-investment-advisor-with-fee-fraud-and-fiduciary-breaches): The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through ...
- [State Regulators Fine Five Major Broker-Dealers Nearly $10 Million for Excessive Commission Charges](https://www.ecclestonlaw.com/eccleston-law-blog/state-regulators-fine-five-major-brokerdealers-nearly-10-million-for-excessive-commission-charges): A coalition of state securities regulators has ordered five broker-dealers — including Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade &m...
- [SEC Panel Calls for Tighter Limits on RIAs' Mandatory Arbitration Clauses](https://www.ecclestonlaw.com/eccleston-law-blog/sec-panel-calls-for-tighter-limits-on-rias-mandatory-arbitration-clauses): AdvisorHub reports that the Securities and Exchange Commission’s Investor Advisory Committee has finalized a recommendation urging the Securities and...
- [FINRA Proposes Rule Change to Delay Immediate Sanctions Pending SEC Review](https://www.ecclestonlaw.com/eccleston-law-blog/finra-proposes-rule-change-to-delay-immediate-sanctions-pending-sec-review): The Financial Industry Regulatory Authority (“FINRA”) has proposed a rule change that would allow broker-dealers and registered representatives...
- [Maryland Bars Financial Advisor Over Excessive Fees and Unsuitable Investments](https://www.ecclestonlaw.com/eccleston-law-blog/maryland-bars-financial-advisor-over-excessive-fees-and-unsuitable-investments): The Maryland Securities Commissioner has barred financial advisor Timothy Pickett and his firm, Blue Anchor Capital Management, from operating in the secur...
- [Veteran Advisors Challenge Focus Financial Overbroad Non-Competes in Federal Court](https://www.ecclestonlaw.com/eccleston-law-blog/veteran-advisors-challenge-focus-financial-overbroad-noncompetes-in-federal-court): Two former advisors from Edge Capital Group have filed a federal lawsuit challenging what they describe as excessively restrictive employment agreements fo...
- [UBS Confirms Data Breach After Cyberattack on External Vendor](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-confirms-data-breach-after-cyberattack-on-external-vendor): UBS Group AG has confirmed that a cyberattack on one of its third-party suppliers resulted in stolen company information, though no client data was comprom...
- [SEC Permanently Bars Brite Advisors USA Over Custody Rule Violations and Undisclosed Conflicts](https://www.ecclestonlaw.com/eccleston-law-blog/sec-permanently-bars-brite-advisors-usa-over-custody-rule-violations-and-undisclosed-conflicts): The SEC has permanently barred Brite Advisors USA from operating as an investment adviser, citing serious custody rule violations and undisclosed conflicts...
- [FINRA Advances Proposal to Allow Limited Use of Performance Projections](https://www.ecclestonlaw.com/eccleston-law-blog/finra-advances-proposal-to-allow-limited-use-of-performance-projections): The Financial Industry Regulatory Authority (“FINRA”) is moving forward with a proposal that would give broker-dealers limited ability to marke...
- [Wisconsin Man Charged in $15.8 Million Ponzi Scheme Disguised as Investment Advisory Business](https://www.ecclestonlaw.com/eccleston-law-blog/wisconsin-man-charged-in-158-million-ponzi-scheme-disguised-as-investment-advisory-business): Federal authorities have charged a Wisconsin man with orchestrating a multimillion-dollar Ponzi scheme that defrauded more than 120 investors over six year...
- [Former Advisor Sues Prime Capital Again Over Unpaid Equity Redemption](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-sues-prime-capital-again-over-unpaid-equity-redemption): A former San Diego-based advisor has filed a second lawsuit against Prime Capital Financial, alleging breach of contract after the firm failed to honor agr...
- [Former CFA Institute Executive Charged in $5 Million Embezzlement Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-cfa-institute-executive-charged-in-5-million-embezzlement-scheme): Michael J. Collins, the former chief marketing officer of the CFA Institute, has been accused of embezzling nearly $5 million from the financial education ...
- [Former LPL Advisor Suspended for Beneficiary Designation Violations](https://www.ecclestonlaw.com/eccleston-law-blog/former-lpl-advisor-suspended-for-beneficiary-designation-violations): A former LPL Financial advisor has agreed to an eight-month suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) found he...
- [Federal Judge Approves $91.3 Million in GWG Holdings Bankruptcy Settlements](https://www.ecclestonlaw.com/eccleston-law-blog/federal-judge-approves-913-million-in-gwg-holdings-bankruptcy-settlements): A federal bankruptcy judge in Houston has approved $91.3 million in settlements from several professional firms, company founders, and former executives ti...
- [Former Advisor Sentenced to Over Eight Years for $17 Million Fraud Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-advisor-sentenced-to-over-eight-years-for-17-million-fraud-scheme): A former financial advisor from Pennsylvania has been sentenced to more than eight years in federal prison for defrauding clients out of over $17 million, ...
- [SEC Bars Brite Advisors USA for Custody Rule Violations and Disclosure Failures](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-brite-advisors-usa-for-custody-rule-violations-and-disclosure-failures): The Securities and Exchange Commission (“SEC”) has permanently barred Brite Advisors USA, a New York-based investment adviser managing roughly ...
- [Beware the Hidden Risks Lurking in Option-Income ETFs](https://www.ecclestonlaw.com/eccleston-law-blog/beware-the-hidden-risks-lurking-in-optionincome-etfs): Lately, a wave of option-income exchange-traded funds (ETFs) has flooded the market, boasting eye-popping yields as high as 230 percent.
- [Former Merrill Lynch Broker Settles SEC Case Over $3 Million Investment Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-lynch-broker-settles-sec-case-over-3-million-investment-fraud): A former Dallas-based broker has settled civil charges with the Securities and Exchange Commission (SEC) after stealing nearly $3 million from his clients ...
- [SEC Bars California Advisor for $4.6 Million Client Theft and Falsified Filings](https://www.ecclestonlaw.com/eccleston-law-blog/sec-bars-california-advisor-for-46-million-client-theft-and-falsified-filings): The Securities and Exchange Commission (SEC) has permanently barred Andrew Nash, a Santa Barbara-based investment adviser, from the securities industry aft...
- [Stifel Faces Mounting Arbitration Losses Over Chuck Roberts' Structured Note Sales](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-faces-mounting-arbitration-losses-over-chuck-roberts-structured-note-sales): Stifel Financial has reached another substantial settlement connected to a controversial structured note strategy promoted by Miami-based broker Chuck A. R...
- [Florida Woman Arrested in $2.6 Million Theft Scheme Tied to Former Merrill Lynch Advisor](https://www.ecclestonlaw.com/eccleston-law-blog/florida-woman-arrested-in-26-million-theft-scheme-tied-to-former-merrill-lynch-advisor): A Florida woman faces multiple felony charges for allegedly helping a former Merrill Lynch advisor steal millions from a high-profile NFL client, as report...
- [Florida Attorney General Targets RAD Diversified REIT Over Suspected Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/florida-attorney-general-targets-rad-diversified-reit-over-suspected-ponzi-scheme): Florida Attorney General James Uthmeier has launched an aggressive investigation into RAD Diversified REIT, Inc., its subsidiaries, and its owners, Brandon...
- [FINRA Bars Former Jefferies Advisor After Refusal to Cooperate with Regulatory Probe](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-jefferies-advisor-after-refusal-to-cooperate-with-regulatory-probe): Nicholas Coubrough, a former wealth advisor with Jefferies Financial Group Inc. in Miami, has been permanently barred from the securities industry followin...
- [FINRA Bars Former Stifel Broker Amid $133 Million Arbitration Fallout](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-stifel-broker-amid-133-million-arbitration-fallout): The Financial Industry Regulatory Authority (FINRA) has barred former Stifel Financial broker Chuck A. Roberts after a wave of investor complaints linked t...
- [Second Circuit Rejects Morgan Stanley's Bid to Overturn ERISA Ruling](https://www.ecclestonlaw.com/eccleston-law-blog/second-circuit-rejects-morgan-stanleys-bid-to-overturn-erisa-ruling): Morgan Stanley has once again hit a roadblock in its effort to overturn a federal court decision that applies the Employee Retirement Income Security Act o...
- [Ex-Schwab Representative Suspended Two Years and Fined for Concealing Profit-Sharing Agreement](https://www.ecclestonlaw.com/eccleston-law-blog/exschwab-representative-suspended-two-years-and-fined-for-concealing-profitsharing-agreement): The Financial Industry Regulatory Authority (FINRA) has suspended former Charles Schwab & Co. Inc. representative Daniel Michael Roper for two years.
- [FINRA Panel Awards $160K in Broker Poaching Dispute Between Former Ameriprise Teammates](https://www.ecclestonlaw.com/eccleston-law-blog/finra-panel-awards-160k-in-broker-poaching-dispute-between-former-ameriprise-teammates): A FINRA arbitration panel has ordered Kraig R. Bode, an independent broker now affiliated with Sanctuary Wealth, to pay $160,000 in damages to his former t...
- [SEC Overturns FINRA Bar Against Former Rep, Issues Immediate Suspension Instead](https://www.ecclestonlaw.com/eccleston-law-blog/sec-overturns-finra-bar-against-former-rep-issues-immediate-suspension-instead): In a rare move, the Securities and Exchange Commission (SEC) has scaled back an industry bar by the Financial Industry Regulatory Authority (FINRA) against...
- [FINRA Suspends Broker for Impersonating Clients During Account Transfers](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-broker-for-impersonating-clients-during-account-transfers): Chad M. Rogers, a former broker with Independent Financial Partners (IFP) in Oklahoma City, received a 45-day suspension and a $5,000 fine from FINRA after...
- [Margin Debt Hits $1 Trillion as Investor Risk Appetite Surges](https://www.ecclestonlaw.com/eccleston-law-blog/margin-debt-hits-1-trillion-as-investor-risk-appetite-surges): According to Barron’s, investors are borrowing against their portfolios at record levels.
- [FINRA Suspends Financial Advisor for Outsourcing Continuing Education Requirements](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-financial-advisor-for-outsourcing-continuing-education-requirements): The Financial Industry Regulatory Authority (FINRA) has suspended advisor Francis G. Smith for one month and fined him $5,000 after finding he had someone ...
- [Florida Investment Advisor Accused of Orchestrating $94 Million Fraud Targeting International Clients](https://www.ecclestonlaw.com/eccleston-law-blog/florida-investment-advisor-accused-of-orchestrating-94-million-fraud-targeting-international-clients): Federal prosecutors have charged Andrew Hamilton Jacobus, a former investment adviser based in Fort Lauderdale, Florida, with defrauding international inve...
- [FINRA Bars Former Ameriprise Advisor Over $2.2 Million in Client Loans](https://www.ecclestonlaw.com/eccleston-law-blog/finra-bars-former-ameriprise-advisor-over-22-million-in-client-loans): The Financial Industry Regulatory Authority (FINRA) has permanently barred former Ameriprise Financial broker Eric A. Dupre for borrowing more than $2.2 mi...
- [Stifel Drops Advisor Chuck Roberts Amid Legal Fallout from Failed Structured Notes Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/stifel-drops-advisor-chuck-roberts-amid-legal-fallout-from-failed-structured-notes-strategy): Stifel Financial Corp. has parted ways with Chuck Roberts, a high-profile financial advisor whose investment strategies have triggered a wave of costly leg...
- [UBS Hit with $737,000 FINRA Arbitration Award Over Mismanaged Tesla Options Strategy](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-hit-with-737000-finra-arbitration-award-over-mismanaged-tesla-options-strategy): UBS Financial Services has been ordered to pay $737,000 in damages and fees after a former Tesla executive accused the firm of mishandling an options strat...
- [LPL Financial Faces Lawsuit Over Alleged California Labor Code Violations](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-financial-faces-lawsuit-over-alleged-california-labor-code-violations): LPL Financial is facing a lawsuit in California Superior Court alleging widespread wage and hour violations affecting non-exempt employees across the state...
- [CFP Board Faces Criticism for Omitting Key Disclosures from Public Search Tool](https://www.ecclestonlaw.com/eccleston-law-blog/cfp-board-faces-criticism-for-omitting-key-disclosures-from-public-search-tool): The CFP Board promotes its certificants as the “most trusted” financial professionals and directs consumers to its LetsMakeAPlan.org search too...
- [Former Fidelity Advisor Indicted for $2 Million Fraud Targeting Former Client](https://www.ecclestonlaw.com/eccleston-law-blog/former-fidelity-advisor-indicted-for-2-million-fraud-targeting-former-client): Federal prosecutors have charged former Fidelity Investments advisor Eric James Stone with 10 counts of wire and mail fraud and five counts of money launde...
- [Former Broker Indicted for $9.7M Ponzi Scheme Involving Fake Bond Investments](https://www.ecclestonlaw.com/eccleston-law-blog/former-broker-indicted-for-97m-ponzi-scheme-involving-fake-bond-investments): Federal authorities have indicted former securities broker Edwin Emmett Lickiss Jr., 77, on wire fraud and money laundering charges for allegedly orchestra...
- [NIL Era Exposes Student-Athletes to Financial Fraud and Uncharted Risks](https://www.ecclestonlaw.com/eccleston-law-blog/nil-era-exposes-studentathletes-to-financial-fraud-and-uncharted-risks): The evolving world of paying college athletics has opened new revenue streams for student-athletes. According to Wealth Management it has also invited a ho...
- [SEC Fines American Portfolios Advisors $1.75 Million for Overbilling and Undisclosed Conflicts](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-american-portfolios-advisors-175-million-for-overbilling-and-undisclosed-conflicts): The Securities and Exchange Commission (SEC) has fined American Portfolios Advisors $1.75 million for a series of violations that occurred between August 2...
- [Former Raymond James Advisor Barred by FINRA Over Misappropriation Probe](https://www.ecclestonlaw.com/eccleston-law-blog/former-raymond-james-advisor-barred-by-finra-over-misappropriation-probe-): The Financial Industry Regulatory Authority (FINRA) has permanently barred former Raymond James financial advisor Meredith Archer Webber after she failed t...
- [FINRA's 2025 Industry Snapshot Highlights](https://www.ecclestonlaw.com/eccleston-law-blog/finras-2025-industry-snapshot-highlights): The Financial Industry Regulatory Authority’s (FINRA) has published its 2025 Industry Snapshot. The Snapshot provides a detailed view of its member f...
- [FINRA Fines TradeStation Securities Over Deficient Crypto Communications](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-tradestation-securities-over-deficient-crypto-communications): FINRA has fined TradeStation Securities Inc. $85,000 for violations related to retail communications about crypto assets and crypto asset-related services.
- [Kansas City Advisory Firms Agree to $25.5 Million Settlement Over No-Poach Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/kansas-city-advisory-firms-agree-to-255-million-settlement-over-nopoach-allegations): Mariner Wealth Advisors, along with two other Kansas City-area firms, has agreed to a $25.5 million class action settlement over allegations that they ille...
- [Wells Fargo Ties $2,000 Bonus to Non-Solicitation Clause, Raising Advisor Concerns](https://www.ecclestonlaw.com/eccleston-law-blog/wells-fargo-ties-2000-bonus-to-nonsolicitation-clause-raising-advisor-concerns): Wells Fargo & Co. recently issued a $2,000 bank-wide award to its 215,000 employees, following the Federal Reserve’s June decision to lift its as...
- [Merrill Lynch Advisor Faces FINRA Disciplinary Action for Refusing to Cooperate with Investigation](https://www.ecclestonlaw.com/eccleston-law-blog/merrill-lynch-advisor-faces-finra-disciplinary-action-for-refusing-to-cooperate-with-investigation): The Financial Industry Regulatory Authority (FINRA) has initiated disciplinary proceedings against former Merrill Lynch broker Ali F. Chehab of Portland, O...
- [SEC Fines New York RIA $50,000 for Custody Rule Violations](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-new-york-ria-50000-for-custody-rule-violations): The Securities and Exchange Commission (SEC) has fined Munakata Associates, a New York-based registered investment adviser, $50,000 for failing to comply w...
- [Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits](https://www.ecclestonlaw.com/eccleston-law-blog/easterly-rocmuni-funds-steep-decline-spurs-potential-investor-lawsuits): The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has suffered a dramatic collapse, losing nearly half its value in June and now trading at a ne...
- [Arizona Man Sentenced to 30 Years for Multi-Million Dollar Ponzi-Style Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/arizona-man-sentenced-to-30-years-for-multimillion-dollar-ponzistyle-fraud): An Arizona man has been sentenced to 30 years in prison for running a Ponzi-style investment scheme that defrauded more than 100 victims out of millions of...
- [Montana Federal Judge Allows Family's Premium Financing Claims to Proceed](https://www.ecclestonlaw.com/eccleston-law-blog/montana-federal-judge-allows-familys-premium-financing-claims-to-proceed): A federal judge in Montana has allowed a family to move forward with negligence, fraud, and unjust enrichment claims tied to a premium-financed life insura...
- [LPL Broker Fined and Suspended for Recommending Risky Investments to Elderly Client](https://www.ecclestonlaw.com/eccleston-law-blog/lpl-broker-fined-and-suspended-for-recommending-risky-investments-to-elderly-client): An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommendi...
- [California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/california-younggun-investor-charged-in-alleged-6-million-ponzi-scheme): Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestratin...
- [Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute](https://www.ecclestonlaw.com/eccleston-law-blog/former-morgan-stanley-advisors-win-partial-court-victory-in-client-solicitation-dispute): Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, acc...
- [FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-centaurus-dallas-broker-over-excessive-alternative-investment-sales): FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net wort...
- [Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits](https://www.ecclestonlaw.com/eccleston-law-blog/easterly-rocmuni-fund-collapse-triggers-investor-lawsuits): The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of mill...
- [Financial Advisors Split on AI Adoption](https://www.ecclestonlaw.com/eccleston-law-blog/financial-advisors-split-on-ai-adoption): Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that fin...
- [Investors Pursue Recovery Amid Inspired Healthcare Capital Difficulties](https://www.ecclestonlaw.com/eccleston-law-blog/investors-pursue-recovery-amid-inspired-healthcare-capital-difficulties): Investors in Inspired Healthcare Capital (IHC) face mounting losses after the firm suspended distributions and halted new offerings in July 2025 amid an on...
- [SEC Sanctions Emerson Equity and Advisor Over GWG L Bond Sales](https://www.ecclestonlaw.com/eccleston-law-blog/sec-sanctions-emerson-equity-and-advisor-over-gwg-l-bond-sales): The Securities and Exchange Commission (SEC) has announced settlements with Emerson Equity and one of its registered representatives, citing violations of ...
- [How New CCOs Can Navigate Today's Compliance Challenges](https://www.ecclestonlaw.com/eccleston-law-blog/how-new-ccos-can-navigate-todays-compliance-challenges): The role of the chief compliance officer (CCO) has never carried more weight or more complexity, according to Wealth Management.
- [FINRA Suspends Spartan Capital Broker for Excessive Trading Violations](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-spartan-capital-broker-for-excessive-trading-violations): The Financial Industry Regulatory Authority (FINRA) has suspended Joseph Kelly, a broker at Spartan Capital Securities, for nine months and ordered him to ...
- [SEC and DOJ Target $770 Million Prestige Funds Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-and-doj-target-770-million-prestige-funds-ponzi-scheme): Federal regulators say thousands of investors may have lost money in what they allege was a massive Ponzi scheme tied to the Prestige Funds and WF Velocity...
- [SEC Unveils Ambitious Regulatory Agenda](https://www.ecclestonlaw.com/eccleston-law-blog/sec-unveils-ambitious-regulatory-agenda): The Securities and Exchange Commission (SEC) has released its Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions, signaling a sweeping shift...
- [SEC Fines Vanguard $19.5 Million for Disclosure Failures in Advisor Compensation Program](https://www.ecclestonlaw.com/eccleston-law-blog/sec-fines-vanguard-195-million-for-disclosure-failures-in-advisor-compensation-program): The Securities and Exchange Commission (SEC) has censured and fined Vanguard Advisers $19.5 million, alleging the firm failed to properly disclose financia...
- [New Jersey Investor Sues Advisor and Insurers Over Premium Financing Losses](https://www.ecclestonlaw.com/eccleston-law-blog/new-jersey-investor-sues-advisor-and-insurers-over-premium-financing-losses): A New Jersey resident has filed suit against a financial advisor, his firm, two insurance companies, and other parties over losses tied to a premium financ...
- [Mercer Advisors Expands Westward with Two RIA Acquisitions](https://www.ecclestonlaw.com/eccleston-law-blog/mercer-advisors-expands-westward-with-two-ria-acquisitions): Mercer Advisors has strengthened its presence in the West by acquiring two registered investment advisory firms with offices in Oregon, Idaho, and Southern...
- [SEC Charges Pennsylvania Man in $400 Million Ponzi Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/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 Para...
- [Judge Allows Widow's $8 Million FINRA Arbitration Claim Against JPMorgan to Proceed](https://www.ecclestonlaw.com/eccleston-law-blog/judge-allows-widows-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...
- [Tricolor Bankruptcy Sparks DOJ Probe and Distress in Subprime Auto Loan Market](https://www.ecclestonlaw.com/eccleston-law-blog/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 co...
- [Northern Trust Sues Former Advisor for Alleged Fraud and Breach of Fiduciary Duty](https://www.ecclestonlaw.com/eccleston-law-blog/northern-trust-sues-former-advisor-for-alleged-fraud-and-breach-of-fiduciary-duty): According to ThinkAdvisor, Northern Trust Company has filed suit against former wealth management relationship advisor Christopher Walters, alleging that h...
- [Former Merrill Lynch Advisors Fight Allegations of Corporate Raid](https://www.ecclestonlaw.com/eccleston-law-blog/former-merrill-lynch-advisors-fight-allegations-of-corporate-raid): A dozen former Merrill Lynch advisors who launched their own firm, OpenArc Corporate Advisory, in Atlanta are pushing back against accusations that they or...
- [Former Two Sigma Quant Researcher Faces Fraud Charges Over Manipulated Models](https://www.ecclestonlaw.com/eccleston-law-blog/former-two-sigma-quant-researcher-faces-fraud-charges-over-manipulated-models): Federal prosecutors and the Securities and Exchange Commission (SEC) have filed parallel actions against Jian Wu, a former quantitative researcher at Two S...
- [Morgan Stanley Cuts Advisor Deferrals in 2026 Compensation Plan, Boosting Advisor Payouts](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanley-cuts-advisor-deferrals-in-2026-compensation-plan-boosting-advisor-payouts-): Morgan Stanley Wealth Management announced a significant change to its 2026 compensation plan, cutting advisor deferral rates by half while keeping total p...
- [Morgan Stanley's Termination of Financial Advisor Highlights Scrutiny Over U-5 Filings](https://www.ecclestonlaw.com/eccleston-law-blog/morgan-stanleys-termination-of-financial-advisor-highlights-scrutiny-over-u5-filings): Morgan Stanley recently terminated a 25-year industry veteran in Miami, underscoring the heightened scrutiny surrounding U-5 filings and the challenges tha...
- [SEC Accuses Florida Insurance Agent of $52 Million Unregistered Securities Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/sec-accuses-florida-insurance-agent-of-52-million-unregistered-securities-scheme): The U.S. Securities and Exchange Commission (SEC) has filed a complaint against Florida insurance agent Charles D. Oliver, alleging he illegally sold about...
- [FINRA Suspends Former Citigroup Advisor Over Undisclosed Business Activities](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-citigroup-advisor-over-undisclosed-business-activities): The Financial Industry Regulatory Authority (FINRA) has suspended former Citigroup representative Maximiliano Ramirez and fined him $5,000 for engaging in ...
- [FINRA Fines Oak Hills Securities for Private Placement Misconduct](https://www.ecclestonlaw.com/eccleston-law-blog/finra-fines-oak-hills-securities-for-private-placement-misconduct): The Financial Industry Regulatory Authority (FINRA) has censured and fined Oak Hills Securities Inc., an Oklahoma City brokerage, for multiple rule violati...
- [FINRA Accuses Former MML Broker of Cheating on SIE Exam](https://www.ecclestonlaw.com/eccleston-law-blog/finra-accuses-former-mml-broker-of-cheating-on-sie-exam): Regulators have accused a former MML Investors Services-affiliated broker of cheating on the Securities Industry Essentials (SIE) exam, according to a rece...
- [Judge Denies Merrill Lynch's TRO in Advisor Transition](https://www.ecclestonlaw.com/eccleston-law-blog/judge-denies-merrill-lynchs-tro-in-advisor-transition): A federal judge has rejected Merrill Lynch’s request for a temporary restraining order (TRO) against a group of former financial advisors who left th...
- [Retail Access to Private Markets Raises Investor Protection and Regulatory Concerns](https://www.ecclestonlaw.com/eccleston-law-blog/retail-access-to-private-markets-raises-investor-protection-and-regulatory-concerns): Robinhood Markets recently registered its first alternative investment vehicle, Robinhood Ventures Fund I, with the Securities and Exchange Commission (SEC...
- [FINRA Panel Orders Charles Schwab to Pay Damages Over Structured Product Losses Sold by Vora Wealth Management](https://www.ecclestonlaw.com/eccleston-law-blog/finra-panel-orders-charles-schwab-to-pay-damages-over-structured-product-losses-sold-by-vora-wealth-management): A three-person FINRA arbitration panel ordered Charles Schwab & Co. to pay $165,440 in compensatory damages to a former client of Vora Wealth Managemen...
- [UBS Seeks Court Order Against $1.4 Billion Florida Advisory Team Over Client Solicitation Allegations](https://www.ecclestonlaw.com/eccleston-law-blog/ubs-seeks-court-order-against-14-billion-florida-advisory-team-over-client-solicitation-allegations-): UBS Wealth Management USA has filed a lawsuit and requested a temporary restraining order (TRO) against a $1.4 billion advisory team that recently departed...
- [FINRA Foundation Study Reveals Alarming Investor Susceptibility to Fraudulent Offers](https://www.ecclestonlaw.com/eccleston-law-blog/finra-foundation-study-reveals-alarming-investor-susceptibility-to-fraudulent-offers): The FINRA Investor Education Foundation (FINRA Foundation) has released preliminary findings from its upcoming report, Investors in the United States: A Re...
- [SEC Sues Former Franchise Group CEO Over $350 Million Hedge Fund Fraud](https://www.ecclestonlaw.com/eccleston-law-blog/sec-sues-former-franchise-group-ceo-over-350-million-hedge-fund-fraud): The Securities and Exchange Commission (SEC) filed a lawsuit against Brian Kahn, former CEO of Franchise Group Inc., alleging he defrauded investors of mor...
- [FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers](https://www.ecclestonlaw.com/eccleston-law-blog/finra-suspends-former-morgan-stanley-advisor-over-180000-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 allegedl...
- [Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme](https://www.ecclestonlaw.com/eccleston-law-blog/former-florida-broker-pleads-guilty-in-27-million-investment-fraud-and-ppp-loan-scheme): Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam an...
- [Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter](https://www.ecclestonlaw.com/eccleston-law-blog/department-of-labor-sued-over-illegitimate-deferred-compensation-opinion-letter): Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was un...
- [News & Updates from Eccleston Law](https://www.ecclestonlaw.com/eccleston-law-news): Eccleston Law has earned the highest awards & distinctions by both clients & peers, keeping the website up-to-date w/ all firm news.
- [DocuSign Use Dooms “Swath” of LPL Brokers](https://www.ecclestonlaw.com/eccleston-law-news/docusign-use-dooms-swath-of-lpl-brokers): LPL Financial, the largest independent broker-dealer by its sales force of close to 20,000, is terminating “a swath of brokers” over allegation...
- [Morgan Stanley Hit With Another Deferred Compensation Claim](https://www.ecclestonlaw.com/eccleston-law-news/morgan-stanley-hit-with-another-deferred-compensation-claim): Morgan Stanley’s legal woes over its withholding of deferred compensation from brokers who leave for another firm are multiplying. Attorney James&nbs...
- [More Ex-Morgan Stanley FAs Demand Deferred Comp](https://www.ecclestonlaw.com/eccleston-law-news/more-exmorgan-stanley-fas-demand-deferred-comp--in-arbitration): Eccleston Law is representing 10 ex-Morgan Stanley advisors in their claim over forfeited deferred compensation which was filed last week with FINRA. &nbs...
- [Eccleston Law LLC Investigates Recovery Options for NRIA Investors](https://www.ecclestonlaw.com/eccleston-law-news/eccleston-law-llc-investigates-recovery-options-for-nria-investors): Headquartered in Secaucus, NJ, National Realty Investment Advisors (NRIA) recently declared bankruptcy amid investor redemption requests, federal and state...
- [Morgan Stanley Seeks to Send Brokers’ Deferred Comp Lawsuit to Arbitration](https://www.ecclestonlaw.com/eccleston-law-news/morgan-stanley-seeks-to-send-brokers-deferred-comp-lawsuit-to-arbitration): Morgan Stanley has asked a federal court to stay a proposed class action lawsuit related to its deferred compensation plan and compel 12 of its former brok...
- [Eccleston Law LLC Investigates Fallout at Firms Fined by the SEC Over Electronic Communications](https://www.ecclestonlaw.com/eccleston-law-news/Eccleston-Law-LLC-Investigates): The SEC charged several broker-dealers with failure to maintain and preserve electronic communications, including text messages, assessing over $1 billion ...
- [RIAs Increasingly Rely on Non-Competes Borrowed From Broker-Dealers](https://www.ecclestonlaw.com/eccleston-law-news/RIAs-Increasingly-Rely-on-Non-Competes): Registered investment advisory firms (RIAs) have borrowed a legal tactic from the broker-dealer space, as RIAs increasingly take defectors to court with al...
- [Welcome Attorney Anthony Bingham](https://www.ecclestonlaw.com/eccleston-law-news/welcome-attorney-anthony-bingham): Eccleston Law, LLC is pleased to announce the addition of Attorney Anthony Bingham, expanding the firm’s practice representing financial advisors and...
- [Attorney Eccleston Quoted in Barron's Article](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-quoted-in-barrons-article): Attorney Jim Eccleston was recently quoted in a Barron's Article on Goldman Sachs' intent to pursue arbitration after dozens of advisors left the firm foll...
- [Attorney Eccleston Quoted in Financial Advisor IQ Article](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-quoted-in-financial-advisor-iq-article): Jim Eccleston was recently quoted in a Financial Advisor IQ article concerning an ex-Hightower advisor suing to escape covenants.
- [Chicago FINRA Arbitrators Award Ten Former Financial Advisors Over $3 Million For Forfeited Deferred Compensation Damages, Interest and Attorneys’ Fees](https://www.ecclestonlaw.com/eccleston-law-news/chicago-finra-arbitrators-award-ten-former-financial-advisors): Ten former Morgan Stanley financial advisors have been awarded over $3 million related to the firm’s wrongful forfeiture of the advisors’ defer...
- [Attorney Eccleston Receives Martindale-Hubbell 2024 Judicial Edition Recognition](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-receives-martindale-hubbell-2024-judicial-edition-recognition): Attorney James Eccleston recently received the highest possible Martindale-Hubbell AV rating in their 2024 Judicial Edition.
- [Attorney Eccleston Receives AVVO Top Rated Lawyer Award 2024](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-receives-avvo-top-rated-lawyer-award-2024): James Eccleston has been officially recognized as a Top Rated Lawyer by Martindale-AVVO.
- [Attorney Eccleston Receives America's Most Honored Lawyers Award](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-receives-americas-most-honored-lawyers-award): James Eccleston has been recognized as one of America's Most Honored Lawyers by The American Registry.
- [James Eccleston Awarded Spot in 2025 Illinois Super Lawyers List](https://www.ecclestonlaw.com/eccleston-law-news/james-eccleston-awarded-spot-in-2025-illinois-super-lawyers-list): Attorney James Eccleston has been selected for the 2025 Illinois Super Lawyers List, an honor given exclusively to lawyers who exhibit excellence in their ...
- [James Eccleston Named Leading Lawyer for 2025](https://www.ecclestonlaw.com/eccleston-law-news/james-eccleston-named-leading-lawyer-for-2025): James Eccleston has been officially recognized by peers as a Leading Lawyer for 2025!
- [James Eccleston Named 2025 Preeminent Attorney](https://www.ecclestonlaw.com/eccleston-law-news/james-eccleston-named-2025-preeminent-attorney): James Eccleston has been awarded the highest possible rating in legal ability by Martindale-Hubbell.
- [Attorney Eccleston Receives 2025 Top-Rated Lawyer Recognition](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-receives-2025-toprated-lawyer-recognition): James Eccleston has been recognized as a top-rated lawyer with a superb attorney rating in 2025 by the Martindale-Avvo legal community.
- [Wells Fargo Loses Bid for TRO Against Fired Illinois Broker](https://www.ecclestonlaw.com/eccleston-law-news/wells-fargo-loses-bid-for-tro-against-fired-illinois-broker): A federal judge has denied Wells Fargo Advisor’s request for a temporary restraining order against a Schaumburg, Illinois-based broker it fired in No...
- [Attorney Eccleston Receives Highest Rating in Legal and Ethical Standards](https://www.ecclestonlaw.com/eccleston-law-news/attorney-eccleston-receives-highest-rating-in-legal-and-ethical-standards): James Eccleston has been awarded an AV Preeminent rating, the highest possible recognition for legal ability and ethical standards. Managed by Martindale-H...