As a result of the Certified Planner Board of Standards, Inc’s new code of ethics and standards of behavior, the CFP Board expects to expand the number of disciplinary cases against CFP designated professionals.
Tagged with "Eccleston Law"
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Wells Fargo Agrees to Pay $575 Million to 50 State Regulators Over Fake Account Scandal and Other Activities
Posted on January 11th, 2019 at 1:28 PM
In a statement announced by Iowa Attorney General Tom Miller, Wells Fargo has agreed to pay $575 million to state attorney generals in all 50 states in order to resolve claims against the bank for violations of consumer protection laws relating to the opening of millions of fake accounts as well as other fraudulent activities.
SEC Releases Alert, Notifying Advisers of the Risks of Texting and Using Social Media with Clients
Posted on January 10th, 2019 at 5:12 PM
In response to an uptick in the amount of text messaging, personal email and social media use in the industry, the SEC recently released a risk alert, notifying advisers that it is paying closer attention to the risks involved with those types of communications.
State of Massachusetts Fines Broker-Dealer $100,000 for Mishandling Client Data
Posted on January 8th, 2019 at 1:59 PM
According to a consent order issued by the Massachusetts Securities Division, New Jersey-based Summit Equities has agreed to pay the state $100,000 for failing to supervise four registered agents, who mishandled private client information.
Former Wells Fargo Broker Charged with 128 Felony Counts in Connection with Orchestrating Ponzi Scheme
Posted on January 7th, 2019 at 11:51 AM
Former Wells Fargo broker, John G. Schmidt of Ohio has been charged with 128 felony counts, including 124 counts of forgery, in connection with perpetrating a $1 million Ponzi scheme.
Eccleston Law Receives Favorable Results in Its Defense of Former Wells Fargo Investment Bankers Related to Dinner Expense Reimbursements
Posted on January 3rd, 2019 at 4:52 PM
FINRA Enforcement continues to issue Rule 8210 inquiries to former investment bankers at Wells Fargo who had allegedly violated the firm’s dinner expense reimbursement policy.
FINRA Fines Morgan Stanley $10 Million for Anti-Money Laundering Supervisory Failures
Posted on January 2nd, 2019 at 5:08 PM
FINRA has fined Morgan Stanley Smith Barney $10 million for anti-money laundering program failures under the Bank Secrecy Act and for its failure to comply with Section 5 of the Securities Act of 1933.
Most Significant Securities Law Decisions of 2018
Posted on December 28th, 2018 at 12:03 PM
As the New Year approaches, this post will highlight some of the most significant securities law decisions of 2018.
Morgan Stanley Agrees to Pay the New Hampshire Bureau of Securities Regulation $1 Million to Settle Churning Allegations by an Ex-Broker
Posted on December 21st, 2018 at 9:44 AM
Morgan Stanley and the New Hampshire Bureau of Securities Regulation have reached a $983,000 settlement agreement stemming from allegations of the firm's failure to supervise ex-broker, Justin Amaral for excessive trading and other unauthorized activities in three client accounts.
Former NBA No. 1 Draft Pick Files Lawsuit Against Merrill Lynch and Advisor
Posted on December 19th, 2018 at 5:09 PM
Former National Basketball Association player and 2001 first round draft pick, Kwame Brown has filed a lawsuit in California Superior Court in Los Angeles against Merrill Lynch, Bank of America and his former adviser, Michelle Marquez, alleging fraud, breach of fiduciary duty and breach of contract.
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