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Tagged with "Eccleston Law"

UBS Triggers Margin Calls After Russia Bond Values Plummet

Posted on March 3rd, 2022 at 3:24 PM
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 debt issued by the country and its businesses plummeted.

 
 

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Wells Fargo Announces That Labor Department Is Investigating Its 401(k) Plan

Posted on March 2nd, 2022 at 12:33 PM
Wells Fargo Announces That Labor Department Is Investigating Its 401(k) 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 recent SEC 10-k regulatory filing.

 
 

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Allianz Terminates Two Portfolio Managers After Investment Fund Collapses

Posted on March 1st, 2022 at 1:47 PM
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 pandemic, and after the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) announced plans to investigate.

 
 

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SEC Charges Infinity Q Founder Over Valuation Fraud

Posted on February 28th, 2022 at 1:42 PM
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 overvaluing assets by more than $1 billion while collecting million of dollars in ill-gained fees.

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FINRA Hires Law Firm To Independently Investigate Arbitrator Selection Process

Posted on February 25th, 2022 at 11:12 AM
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 Services (DRS) adhered to its policies and procedures for arbitrator selection relating to a recent arbitration proceeding, in which the award was vacated by an Atlanta Superior Court judge.

 
 

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FINRA Sanctions Ecoban Securities Over Inadequate Supervision Procedures

Posted on February 24th, 2022 at 12:41 PM
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 rules designed to ensure adequate supervision of its advisors.

 
 

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SEC To Investigate Morgan Stanley and Goldman Sachs Over Block-Trading Practices

Posted on February 23rd, 2022 at 3:03 PM
SEC To Investigate Morgan Stanley and Goldman Sachs Over Block-Trading Practices

The Securities and Exchange Commission (SEC) has subpoenaed Morgan Stanley, Goldman Sachs, and several hedge funds in order to investigate the business of block trading.

 
 

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J.P. Morgan Ordered To Pay $1.4 Million To Advisor In Defamation Case

Posted on February 22nd, 2022 at 12:51 PM
J.P. Morgan Ordered To Pay $1.4 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 following his termination nearly five years ago.

 
 

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FINRA Criticized Over Alleged Rigging Of Arbitration Matters Involving Wells Fargo

Posted on February 21st, 2022 at 12:09 PM
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 system after a judge recently determined that a FINRA arbitration panel was biased against an investor claimant in 2019.

 
 
 

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FINRA Suspends Former Raymond James Advisor Over UIT Sales

Posted on February 18th, 2022 at 1:03 PM
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 sales of Unit Investment Trusts (UITs).

 
 

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