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Tagged with "Eccleston Law"

Smoothie-Throwing Advisor Suspended By CFP Board

Posted on February 15th, 2022 at 1:21 PM
Smoothie-Throwing Advisor Suspended By CFP Board

A former Merrill Lynch advisor has been suspended by the CFP Board after he was arrested for threatening employees and using racial slurs at a smoothie shop in Connecticut.

 
 
 
 

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FINRA Bars Former Morgan Stanley Advisor Facing Millions in Claims from Pro Athletes

Posted on February 14th, 2022 at 12:00 PM
FINRA Bars Former Morgan Stanley Advisor Facing Millions in Claims from Pro Athletes

A former Morgan Stanley advisor has been barred by the Financial Industry Regulatory Authority (FINRA) after receiving numerous complaints from his former professional athlete clients, including former basketball star Chandler Parsons.

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J.P. Morgan Settles With Cresset Over ‘Raid’ Of Private Bankers

Posted on February 10th, 2022 at 2:20 PM
J.P. Morgan Settles With Cresset Over ‘Raid’ Of Private Bankers

J.P. Morgan settled a lawsuit with Chicago-based advisory firm Cresset Asset Management pertaining to its alleged raid of at least 10 J.P. Morgan private bankers.

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SEC to Advocate For More Transparent Fee Disclosures from Private Equity Firms

Posted on February 9th, 2022 at 1:09 PM

 

The Securities and Exchange Commission (SEC) plans to consider and potentially implement rules requiring more expansive disclosures surrounding fees imposed by private equity firms.

 
 
 

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Judge Vacates Arbitration Award, Condemning Wells Fargo, Attorney and FINRA

Posted on February 8th, 2022 at 2:42 PM
Judge Vacates Arbitration Award, Condemning Wells Fargo, Attorney and FINRA

A Georgia Superior Court judge has vacated an arbitration award that Wells Fargo had obtained nearly 3 years ago involving a client who sued the firm for mismanaging his account and, in doing so, has rocked the industry with sweeping, serious allegations of misconduct and conspiracy.

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Former Morgan Stanley Advisor Settles FINRA Charge Over Inherited Account Coding

Posted on February 7th, 2022 at 11:22 AM
Former Morgan Stanley Advisor Settles FINRA Charge Over Inherited Account Coding

The Financial Industry Regulatory Authority (FINRA) has issued a 10-day suspension and a $2,500 fine against another former Morgan Stanley advisor over an alleged miscoding of trades on inherited accounts.

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Stephens Wins $18.2 Million In Raiding Claim Against Ben Edwards

Posted on February 4th, 2022 at 12:48 PM
Stephens Wins $18.2 Million In Raiding Claim Against Ben Edwards

Stephens, Inc. has won nearly $18.2 million in an arbitration claim against Benjamin Edwards & Company over the raiding of an Arkansas branch.

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FINRA Bars Former Bank of America Advisor For Allegedly Misappropriating Client Funds

Posted on February 3rd, 2022 at 11:44 AM
FINRA Bars Former Bank of America Advisor For Allegedly Misappropriating Client Funds

The Financial Industry Regulatory Authority (FINRA) has barred a former Bank of America advisor after he allegedly forged a client’s signature and misappropriated $58,000 of client funds.

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Advisors Face Scrutiny After Selling $2 Billion In GWG Junk Bonds

Posted on February 2nd, 2022 at 3:15 PM
Advisors Face Scrutiny After Selling $2 Billion In GWG Junk Bonds

An alternative asset manager that had issued a collection of high-yield bonds known as L Bonds, GWG Holdings Inc., has struggled to cover its interest payments.

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Supreme Court Rules On Landmark 401(K) Fee Suit

Posted on February 1st, 2022 at 1:01 PM
Supreme Court Rules On Landmark 401(K) Fee Suit

The U.S. Supreme Court has reversed an appellate court’s decision involving Northwestern University, which may impact numerous other pending lawsuits that target retirement plans with underperforming investments and excessive fees.

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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.