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Tagged with "Eccleston Law"

SEC Charges Hedge Fund Advisor Over Alleged $39 Million Fraud

Posted on June 9th, 2022 at 1:01 PM
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 Middlebrooks, for allegedly operating a multi-year scheme that involved the misappropriation of investor funds.

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SEC Charges RiverSource Distributors With Improper Switching of Variable Annuities

Posted on June 8th, 2022 at 11:23 AM
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 annuities. According to the SEC, RiverSource sold variable annuities to retail clients through an affiliated investment advisory firm, Ameriprise Financial Services.

 
 

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NASAA Members Approve Model Rule Addressing Unpaid Client Arbitration Awards

Posted on June 7th, 2022 at 11:43 AM
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 fail to pay customer arbitration awards.

 
 

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FINRA Revives Plan To Design Expungement Arbitrator Roster

Posted on June 6th, 2022 at 11:03 AM
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 expungement requests.

 
 

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Wells Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars

Posted on June 3rd, 2022 at 1:36 PM
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 Suisse advisor for aiding and abetting Credit Suisse.

 
 
 

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SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

Posted on June 3rd, 2022 at 8:40 AM
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 their owners for allegedly selling pre-IPO shares that they did not own.

 
 
 

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SEC Bars Advisor For Misleading Statements Regarding Woodbridge Securities

Posted on June 1st, 2022 at 3:13 PM
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 two registered investment advisory firms (RIAs).

 
 

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Investor Advocates Push SEC to Investigate Mandatory Arbitration Requirements by RIAs

Posted on May 31st, 2022 at 1:10 PM
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 typically include in their customer agreements.

 
 

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FINRA and SEC Officials Reveal Common Pitfalls in Reg BI Exam Sweeps

Posted on May 31st, 2022 at 8:50 AM
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 Best Interest (“Reg. BI”) became effective two years ago.

 
 

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Large GPB Fund Posts Revenue and Income Growth

Posted on May 26th, 2022 at 10:42 AM
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.

 
 

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LATEST NEWS AND ARTICLES

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September 30, 2026
SEC Approves FINRA Overhaul of Outside Business Activity Rules

The Securities and Exchange Commission (SEC) has approved FINRA's long-awaited overhaul of the rules governing outside business activities and private securities transactions by financial advisors.

1790700476 Law
September 29, 2026
Texas Investment Adviser Sentenced to 11 Years for $35 Million Ponzi Scheme

A federal judge has sentenced Siddharth Jawahar, who operated Texas-based investment adviser Swiftarc Capital, to 11 years in prison for running a $35 million Ponzi scheme.

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September 28, 2026
Red Flags to Watch for in Pre-IPO Investment Scams

Investors considering pre-IPO investments should watch for common warning signs of fraud, according to the Securities and Exchange Commission (SEC).