Tagged with "Eccleston Law"

Former Financial Advisor Sentenced to Prison for $2.5 Million Investment Fraud Scheme

Posted on January 28th, 2025 at 9:00 AM
Former Financial Advisor Sentenced to Prison for $2.5 Million Investment Fraud Scheme

According to InvestmentNews, a former financial advisor from Wisconsin, David Braeger, has been sentenced to 24 months in federal prison for an investment fraud scheme that caused over $2.5 million in losses.

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Gemini Settles $5 Million Case With CFTC Over Misleading Statements

Posted on January 27th, 2025 at 11:06 AM
Gemini Settles $5 Million Case With CFTC Over Misleading Statements

Crypto exchange Gemini has agreed to pay $5 million to settle allegations by the U.S. Commodity Futures Trading Commission (CFTC) that it made misleading statements about bitcoin futures contracts in 2017.

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Fidelity to Shift Independent Advisor Cash to Lower-Yielding FCash Amount in 2025

Posted on January 24th, 2025 at 2:00 PM
Fidelity to Shift Independent Advisor Cash to Lower-Yielding FCash Amount in 2025

Fidelity Investments plans to redirect cash balances in non-retirement brokerage accounts managed by independent financial advisors to its in-house sweep account, FCash, starting in 2025.

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Barred Advisor Continues Pattern of Settlements at Western International Securities

Posted on January 23rd, 2025 at 12:18 PM
Barred Advisor Continues Pattern of Settlements at Western International Securities

Chris Kennedy, a barred advisor formerly associated with Western International Securities, has agreed to a $2.1 million settlement with the Securities and Exchange Commission (SEC) over allegations of high-volume trading, or churning, in client accounts.

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FINRA to Revise Outside Business Activities Rules

Posted on January 22nd, 2025 at 10:46 AM
FINRA to Revise Outside Business Activities Rules

The Financial Industry Regulatory Authority (FINRA) is seeking to overhaul its rules on outside business activities (OBA) and private securities transactions.

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FINRA Orders $8.2 Million in Customer Restitution Over Mutual Fund Fee Errors

Posted on January 21st, 2025 at 3:17 PM
FINRA Orders $8.2 Million in Customer Restitution Over Mutual Fund Fee Errors

FINRA has required Edward Jones, Osaic Wealth, and Cambridge Investment Research to reimburse customers a combined total of more than $8.2 million for improperly charged mutual fund sales fees.

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James Eccleston Awarded Spot in 2025 Illinois Super Lawyers List

Posted on January 21st, 2025 at 3:00 PM
James Eccleston Awarded Spot in 2025 Illinois Super Lawyers List

Attorney James Eccleston has been selected for the 2025 Illinois Super Lawyers List, an honor given exclusively to lawyers who exhibit excellence in their practice. 

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Wells Fargo and LPL Financial Settle SEC Charges Over Blue Sheet Reporting Errors

Posted on January 20th, 2025 at 3:36 PM
Wells Fargo and LPL Financial Settle SEC Charges Over Blue Sheet Reporting Errors

The Securities and Exchange Commission (SEC) announced settlements with Wells Fargo Clearing Services and LPL Financial, each agreeing to pay a $900,000 penalty for failing to provide complete and accurate securities trading information, also known as electronic blue sheet data. 

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FINRA Suspends and Fines Advisor for Misleading L Bond Sales

Posted on January 17th, 2025 at 2:30 PM
FINRA Suspends and Fines Advisor for Misleading L Bond Sales

The Financial Industry Regulatory Authority (FINRA) has suspended and fined Alan Mason for violating Regulation Best Interest by recommending high-risk L bonds to a retail customer.

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Former Merrill Lynch Advisor Wins Expungement of Allegations Tied to CBD Business

Posted on January 16th, 2025 at 11:43 AM
Former Merrill Lynch Advisor Wins Expungement of Allegations Tied to CBD Business

Charles Thomas “Todd” Mercer Jr., a former top Merrill Lynch advisor, successfully cleared his public record of allegations that hindered his ability to attract clients after transitioning to an independent practice. 

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LATEST NEWS AND ARTICLES

July 1, 2025
State Regulators Fine Five Major Broker-Dealers Nearly $10 Million for Excessive Commission Charges

A coalition of state securities regulators has ordered five broker-dealers — including Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade — to pay almost $9.9 million in penalties for overcharging customers on small-value trades.

June 30, 2025
SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches

The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through deceptive fee disclosures and undisclosed conflicts of interest.

 

June 27, 2025
FINRA Sanctions Advisor for Accepting $1 Million Inheritance from Client Without Firm Approval

FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm approval.