Tagged with "Eccleston Law"

UBS Faces Class Action Lawsuit Over Cash Sweep Programs

Posted on September 27th, 2024 at 11:52 AM
UBS Faces Class Action Lawsuit Over Cash Sweep Programs

UBS has been hit with a class action lawsuit over its cash sweep programs, joining other major firms like LPL, Wells Fargo, and Ameriprise, which have faced similar litigation.

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Former Army Financial Counselor Sentenced for Defrauding Gold Star Families

Posted on September 26th, 2024 at 10:28 AM
Former Army Financial Counselor Sentenced for Defrauding Gold Star Families

A former U.S. Army financial counselor, Caz Craffy, also known as “Carz Craffey”, was sentenced to 151 months in prison for defrauding Gold Star families and committing related crimes.

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FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red Flags

Posted on September 25th, 2024 at 11:33 AM
FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red Flags

FINRA has acted against an Independent Financial Group (IFG) supervisor for failing to respond to red flags involving excessive trading in five customer accounts.

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CFP Board Revises Sanction Guidelines and Fitness Standards

Posted on September 24th, 2024 at 11:16 PM
CFP Board Revises Sanction Guidelines and Fitness Standards

The CFP Board has finalized revisions to its Sanction Guidelines and Fitness Standards.

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Former LPL Financial Advisor Fined and Suspended for Unauthorized Signatures

Posted on September 23rd, 2024 at 10:35 AM
Former LPL Financial Advisor Fined and Suspended for Unauthorized Signatures

According to AdvisorHub, Justin Y. Gerow has been fined $5,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations of signing customer account transfer forms without permission.

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Recruiting Loans Drive Growth in Financial Planning Firms

Posted on September 20th, 2024 at 1:32 PM
Recruiting Loans Drive Growth in Financial Planning Firms

Recruiting in the financial planning industry remains a crucial strategy for growth, with major firms like LPL Financial and Morgan Stanley leading the charge by offering substantial recruiting loans to attract advisors.

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FINRA Rule Protects Advisors' Private Addresses on BrokerCheck

Posted on September 19th, 2024 at 11:53 AM
FINRA Rule Protects Advisors' Private Addresses on BrokerCheck

FINRA recently implemented a rule allowing advisors to keep their personal home addresses off the public BrokerCheck database by simply checking a box.

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Merrill Lynch and Bank of America Fined $3 Million for Failing to Monitor Manipulative Trading

Posted on September 18th, 2024 at 10:53 AM
Merrill Lynch and Bank of America Fined $3 Million for Failing to Monitor Manipulative Trading

Merrill Lynch and its parent company, Bank of America, have agreed to pay a $3 million fine and accepted censure from FINRA for their failure to properly monitor potentially manipulative trading activities.

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Understanding the Role of Recruiting Loans in Wealth Management Growth

Posted on September 17th, 2024 at 1:40 PM
Understanding the Role of Recruiting Loans in Wealth Management Growth

Recruiting loan balances can offer insight into a wealth management firm's growth strategy, but they do not tell the whole story. Industry compensation consultant Andrew Tasnady told Financial Planning that firms that have seen the most revenue growth in recent years often have large recruiting loan balances.

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Former Raymond James Advisor Fined and Suspended for Undisclosed Outside Business Activity

Posted on September 16th, 2024 at 11:15 AM
Former Raymond James Advisor Fined and Suspended for Undisclosed Outside Business Activity

Andrew R. Hutcheson, a former advisor with Raymond James' Alex Brown division in Los Angeles, has agreed to a $5,000 fine and a 30-day suspension following allegations of failing to disclose his involvement in an outside business.

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TESTIMONIALS

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I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

May 15, 2025
FINRA Suspends Former Raymond James Broker Over Unauthorized Trades in Elderly Client's Account

FINRA has suspended a former Raymond James advisor for three months and ordered him to pay over $23,000 in fines and disgorgement for executing unauthorized trades in an elderly client’s account.

May 14, 2025
SEC Charges Crypto Promoter in $198 Million Fraud Scheme

The Securities and Exchange Commission (“SEC”) has charged Ramil Palafox for orchestrating a massive securities fraud scheme through his now-defunct company, PGI Global (Praetorian Group International Corporation).

May 13, 2025
Merrill's Investment Solutions Chief Outlines Growing Role for Alternatives in Client Portfolios

At Merrill and Bank of America Private Bank, alternative investments have become a core focus of portfolio construction, according to Financial Planning.