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Tagged with "Eccleston Law"

FINRA Arbitration Claims Decline

Posted on May 13th, 2022 at 12:20 PM
FINRA Arbitration Claims Decline

Fewer investors have been filing arbitration claims to recover their investment losses. However, industry experts anticipate that the case count may climb, if not skyrocket, later this year due to recent market volatility.

 
 

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Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

Posted on May 12th, 2022 at 1:15 PM
Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

A federal jury has convicted a Sarasota-based advisor, Michael DaCorta, for conducting an $80 million Ponzi scheme.

 
 
 

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FINRA Expected to Address Retail Investor Exposure to Complex ETFs

Posted on May 10th, 2022 at 1:21 PM
FINRA Expected to Address Retail Investor Exposure to Complex ETFs

The Financial Industry Regulatory Authority (FINRA) recently requested comments on whether stricter measures ought to be implemented to curb retail investor access to complex ETFs.

 
 

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Morgan Stanley Seeks to Stop Two Departing Advisors from Transferring Inherited Accounts

Posted on May 9th, 2022 at 2:59 PM
Morgan Stanley Seeks to Stop Two Departing Advisors from Transferring Inherited Accounts

Morgan Stanley is seeking a temporary restraining order (TRO) in an effort to block two of its former New-Jersey based advisors from soliciting clients whom they inherited via the firm’s Former Advisor Program (FAP).

 
 

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SEC Doubles Size of Crypto Assets and Cyber Enforcement Unit

Posted on May 6th, 2022 at 1:10 PM
SEC Doubles Size of Crypto Assets and Cyber Enforcement Unit

The Securities and Exchange Commission (SEC) has added 20 new positions to the enforcement unit responsible for protecting investors in crypto markets and from cyber-related threats. 

 
 

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Amateur Investors Took a Billion-Dollar Loss Trading Options Amidst Covid-19

Posted on May 5th, 2022 at 2:19 PM
Amateur Investors Took a Billion-Dollar Loss Trading Options Amidst Covid-19

Amateur day traders lost nearly $1 billion during Covid-19, which climbs to $5 billion when including the costs of trading with market-makers, according to research from economists at the London Business School.

 
 

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FINRA Cracks Down On UBS and Berthel Fisher

Posted on May 4th, 2022 at 1:35 PM
FINRA Cracks Down On UBS and Berthel Fisher

The Financial Industry Regulatory Authority (FINRA) has issued a $350,000 fine to UBS for failing to report trades in TRACE-eligible securities.

 
 

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GWG Blames SEC Investigation Of Sales Practices For Its Collapse

Posted on May 3rd, 2022 at 1:39 PM
GWG Blames SEC Investigation Of Sales Practices For Its Collapse

In its Chapter 11 bankruptcy filings, GWG has criticized the Securities and Exchange Commission’s (SEC’s) investigation of broker-dealers that sold at least $1.6 billion of its life-settlement backed bonds as a major reason for the firm’s collapse, including GWG’s defaulting on $13.6 million in payments to bondholders.

 
 

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FINRA Bars Former Ameriprise Advisor Who “Falsified” Client Event Expenses

Posted on May 2nd, 2022 at 2:36 PM
FINRA Bars Former Ameriprise Advisor Who “Falsified” Client Event Expenses

The Financial Industry Regulatory Authority (FINRA) has barred a former Ameriprise advisor who allegedly falsified $25,000 in reimbursement requests submitted to the firm for client events that she sponsored through wholesaler contributions.

 
 
 

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FINRA Bars Massachusetts Advisor For Failing to Cooperate With Regulator’s Investigation

Posted on April 29th, 2022 at 1:34 PM
FINRA Bars Massachusetts Advisor For Failing to Cooperate With Regulator’s Investigation

The Financial Industry Regulatory Authority (FINRA) has barred a former advisor, Philip Riposo, for failing to cooperate with the regulator’s investigation. 

 
 

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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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October 20, 2026
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.