Tagged with "Eccleston Law"

Founder of AML Bitcoin Convicted in $5 Million Cryptocurrency Fraud Scheme

Posted on May 16th, 2025 at 1:36 PM
Founder of AML Bitcoin Convicted in $5 Million Cryptocurrency Fraud Scheme

A California federal jury has convicted Rowland Marcus Andrade, the founder of AML Bitcoin, on charges of wire fraud and money laundering.

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FINRA Suspends Former Raymond James Broker Over Unauthorized Trades in Elderly Client's Account

Posted on May 15th, 2025 at 2:05 PM
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.

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SEC Charges Crypto Promoter in $198 Million Fraud Scheme

Posted on May 14th, 2025 at 11:46 AM
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).

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Merrill's Investment Solutions Chief Outlines Growing Role for Alternatives in Client Portfolios

Posted on May 13th, 2025 at 2:02 PM
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.

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FINRA Clarifies Proposed Changes to Outside Activities Rule

Posted on May 12th, 2025 at 2:15 PM
FINRA Clarifies Proposed Changes to Outside Activities Rule

FINRA released a statement this week addressing misconceptions surrounding its proposed updates to the rules governing outside business activities by associated persons of broker-dealers.

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FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

Posted on May 9th, 2025 at 1:36 PM
FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.

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All 50 States Now Aligned on Annuity Sales Standards

Posted on May 8th, 2025 at 1:57 PM
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

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Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

Posted on May 7th, 2025 at 3:31 PM
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.

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SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

Posted on May 6th, 2025 at 11:42 AM
SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.

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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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LATEST NEWS AND ARTICLES

February 6, 2026
Delaware Regulators Fine Kovack Advisors $985,000

Kovack Advisors Inc., the registered investment adviser affiliate of independent broker-dealer Kovack Securities Inc., agreed to pay a $985,000 fine to Delaware securities regulators.

February 5, 2026
FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

The Financial Industry Regulatory Authority (FINRA) fined VSI Securities Inc., formerly known as Venecredit Securities Inc., $20,000 for failing to accurately disclose the firm’s disciplinary history in its customer relationship summary, known as Form CRS.

February 4, 2026
Investor Redemptions Rise in Nontraded BDCs Amid Credit Concerns

Financial advisors and their clients have increased redemptions from nontraded business development companies (BDCs) following a series of high-profile corporate bankruptcies, according to InvestmentNews. The surge highlights growing investor concern about liquidity and credit exposure within these high-yield but often risky investment ...