Tagged with "Eccleston Law"

FINRA Suspends Former TD Securities Representative for Improper Expense Charges

Posted on May 5th, 2025 at 12:12 PM
FINRA Suspends Former TD Securities Representative for Improper Expense Charges

FINRA has suspended former TD Securities representative Kate Yumi Lam for 12 months and fined her $10,000 for improperly charging personal commuting and meal expenses to the firm's account.

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Former Edward Jones Broker Indicted for Defrauding Elderly Widow

Posted on May 2nd, 2025 at 3:00 PM
Former Edward Jones Broker Indicted for Defrauding Elderly Widow

Federal prosecutors have indicted a former Edward Jones financial advisor on charges of wire fraud, mail fraud, money laundering, and tax violations after he allegedly stole more than $920,000 from a 77-year-old widowed client.

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FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

Posted on May 1st, 2025 at 12:49 PM
FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

FINRA has fined and censured independent broker-dealer Sanctuary Wealth Management $150,000 for failing to establish an adequate anti-money laundering (AML) program to detect and report suspicious transactions.

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Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Posted on April 30th, 2025 at 11:37 AM
Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.

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Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

Posted on April 29th, 2025 at 11:36 AM
Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructed by management, according to his Central Registration Depository (CRD) record.

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Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

Posted on April 28th, 2025 at 4:00 PM
Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, and Consent letter (“AWC”).

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Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

Posted on April 25th, 2025 at 2:18 PM
Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

The Securities and Exchange Commission (SEC) has finalized a cease-and-desist proceeding against Rosedale, a former SEC-registered investment adviser, for violations of the Investment Advisers Act of 1940.

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SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

Posted on April 24th, 2025 at 2:14 PM
SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.

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Ex-Merrill Lynch Advisor to Appeal Ruling Dismissing ERISA Class Action

Posted on April 23rd, 2025 at 11:52 AM
Ex-Merrill Lynch Advisor to Appeal Ruling Dismissing ERISA Class Action

A former Merrill Lynch advisor plans to challenge a federal judge’s ruling that dismissed his proposed class action against the firm when it forfeited his deferred compensation.

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FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

Posted on April 22nd, 2025 at 12:07 PM
FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedings for parties who are elderly or suffering from serious health conditions.

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LATEST NEWS AND ARTICLES

October 30, 2025
SEC Sues Former Franchise Group CEO Over $350 Million Hedge Fund Fraud

The Securities and Exchange Commission (SEC) filed a lawsuit against Brian Kahn, former CEO of Franchise Group Inc., alleging he defrauded investors of more than $350 million in a multi-year investment adviser fraud tied to the collapse of Prophecy Asset Management (Prophecy).

October 29, 2025
FINRA Foundation Study Reveals Alarming Investor Susceptibility to Fraudulent Offers

The FINRA Investor Education Foundation (FINRA Foundation) has released preliminary findings from its upcoming report, Investors in the United States: A Report of the National Financial Capability Study.

October 28, 2025
UBS Seeks Court Order Against $1.4 Billion Florida Advisory Team Over Client Solicitation Allegations

UBS Wealth Management USA has filed a lawsuit and requested a temporary restraining order (TRO) against a $1.4 billion advisory team that recently departed to join Elevation Point, a West Palm Beach-based registered investment advisor launched just 15 months ago.