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Tagged with "Eccleston Law"

FINRA Bars Former Cetera Advisor Who Converted Client Funds

Posted on April 13th, 2022 at 1:31 PM
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 in order to purchase mutual fund shares for her son.

 
 

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Wells Fargo Agrees To $32.5 Million Settlement In 401(k) Lawsuit

Posted on April 12th, 2022 at 12:20 PM
Wells Fargo Agrees To $32.5 Million Settlement In 401(k) 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 Security Act (ERISA).

 
 
 

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Three Morgan Stanley Advisors Clear Records of Back-Office Mistake

Posted on April 11th, 2022 at 1:08 PM
Three Morgan Stanley Advisors Clear Records of Back-Office 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. The disclosure had related to their purported liability for a customer complaint pertaining to a back-office mistake over a misvalued stock certificate.

 
 

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FINRA Suspends Former Wells Fargo Advisor Over Dead-Man-Trading Violation

Posted on April 7th, 2022 at 2:16 PM
FINRA Suspends Former Wells Fargo Advisor Over Dead-Man-Trading Violation

The Financial Industry Regulatory Authority (FINRA) has suspended a former Wells Fargo advisor for allegedly completing several trades on behalf of a client without obtaining consent.

 
 

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SEC Bars Advisor Over 1 Global Capital Sales

Posted on April 6th, 2022 at 2:20 PM
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, between May 2017 and June 2018.

 
 

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Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

Posted on April 5th, 2022 at 2:06 PM
Former Citibank Advisor Agrees To Non-Solicit 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.

 
 
 

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FINRA Settles With Geneos Over Improper GPB Sales and “Risky” Alternative Mutual Fund

Posted on April 1st, 2022 at 2:17 PM
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 sales of GPB private placements and for failing to supervise its advisors’ recommendations of LJM Preservation & Growth Fund, an alternative mutual fund.

 
 

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FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

Posted on March 31st, 2022 at 1:30 PM
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 the firm to pay nearly $2.3 million in restitution.

 
 

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UBS Seeks TRO Against Wells Fargo Team Who Sent Video Message to Clients

Posted on March 30th, 2022 at 2:23 PM
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 message to solicit their former clients.

 
 

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More Ex-Morgan Stanley FAs Demand Deferred Comp — in Arbitration

Posted on March 30th, 2022 at 10:02 AM

Eccleston Law is representing 10 ex-Morgan Stanley advisors in their claim over forfeited deferred compensation which was filed last week with FINRA.

 
 

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SEC Fines Former LPL Broker $125,000 for Undisclosed Conflicts in Private Securities Offerings

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Former Alabama Financial Advisor Barred After Selling His Practice

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