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Tagged with "Eccleston Law"

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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Edward Jones Files Motion to Dismiss $15 Million Book of Business Lawsuit

Posted on May 24th, 2022 at 12:13 PM

A former Edward Jones advisor has filed suit against Edward Jones over a $15 million book of business.

 
 

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FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

Posted on May 23rd, 2022 at 3:09 PM
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 placement sold by the firm.

 
 
 
 

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SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client

Posted on May 23rd, 2022 at 8:33 AM
SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client

The Securities and Exchange Commission has barred an advisor who allegedly misappropriated nearly $305,000 from an elderly client and additionally overcharged the client at least $9,000 in advisory fees.

 
 

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UBS Advisor Joins U.S. Capital After Contentious Compliance Review

Posted on May 19th, 2022 at 1:48 PM
UBS Advisor Joins U.S. 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 run by a former UBS manager.

 
 

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Some Advisors Chose Inopportune Time To Boost Bet On GWG Bonds

Posted on May 18th, 2022 at 2:31 PM
Some Advisors Chose Inopportune Time To Boost Bet On GWG Bonds

Financial advisors who chose to double down on GWG are having second thoughts.

 
 

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Focus Financial Board Member Sues J.P. Morgan Over $7 Million In Pandemic Losses

Posted on May 17th, 2022 at 1:57 PM
Focus Financial Board Member Sues J.P. 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-related losses in a managed account.

 
 

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UBS Alleges Former Texas Advisor Stole $17 Million From Clients

Posted on May 17th, 2022 at 8:46 AM
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 years.

 
 

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LATEST NEWS AND ARTICLES

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October 21, 2026
FINRA Fines and Suspends Former LPL Broker Over Undisclosed Customer Settlement

The Financial Industry Regulatory Authority (FINRA) fined former LPL Financial broker Gregory W.

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FINRA Orders American Portfolios to Pay $1.6 Million Over Unit Investment Trust Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered American Portfolios, the broker-dealer later absorbed into Osaic, to pay more than $1.6 million in restitution and fines over failures to supervise financial advisors who repeatedly recommended that customers sell unit investment trusts (UITs) before maturity.

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October 19, 2026
FINRA Bars Former LPL Broker Over Alleged $1.7 Million Customer Theft

The Financial Industry Regulatory Authority (FINRA) has barred former LPL Financial broker Rudy Anguiano after finding that he converted more than $1.7 million from two customers, according to AdvisorHub.