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Tagged with "Eccleston Law"

Former Morgan Stanley Advisor Banned for Profit-Sharing Scheme and Policy Violations

Posted on June 12th, 2025 at 3:41 PM
Former Morgan Stanley Advisor Banned for Profit-Sharing Scheme and Policy Violations

Joseph A. Eisler has agreed to a permanent ban from the brokerage industry, according to a recent settlement with the Financial Industry Regulatory Authority (“FINRA”).

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CFP Board Announces Certification Fee Increase

Posted on June 10th, 2025 at 10:52 AM
CFP Board Announces Certification Fee Increase

The CFP Board of Directors has approved a $120 increase to the annual certification fee for CFP® professionals, raising the total to $575.

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Investor Sues Both Schwab and Hightower Over Pledged Asset Line

Posted on June 9th, 2025 at 11:53 AM
Investor Sues Both Schwab and Hightower Over Pledged Asset Line

A retiree has filed a lawsuit accusing Charles Schwab & Co. and Hightower Advisors of financial elder abuse, fraud, and breach of fiduciary duty.

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FINRA Sanctions Former Broker for Unsuitable, High-Risk GWG Bond Sales

Posted on June 6th, 2025 at 1:45 PM
FINRA Sanctions Former Broker for Unsuitable, High-Risk GWG Bond Sales

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former advisor for what FINRA alleged were excessively risky investments that left clients exposed to significant losses.

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UBS Seeks to Overturn $95 Million FINRA Award Over Tesla Shorting Strategy

Posted on June 5th, 2025 at 10:54 AM
UBS Seeks to Overturn $95 Million FINRA Award Over Tesla Shorting Strategy

UBS Wealth Management USA has filed a petition in federal court to vacate a nearly $95 million FINRA arbitration award, arguing the decision overstepped legal bounds and imposed punitive damages that defy Iowa law, as reported by AdvisorHub.

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Jury Finds Cutter Financial Group Liable for Disclosure Failures in Annuity Sales

Posted on June 4th, 2025 at 3:50 PM
Jury Finds Cutter Financial Group Liable for Disclosure Failures in Annuity Sales

A federal jury in Massachusetts has found investment advisor Jeffrey Cutter and his firm, Cutter Financial Group, liable for failing to disclose significant commissions and conflicts of interest tied to an annuity replacement strategy sold to clients.

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Former Merrill Edge Advisor Barred by FINRA Amid Misappropriation Allegations

Posted on June 3rd, 2025 at 11:01 AM
Former Merrill Edge Advisor Barred by FINRA Amid Misappropriation Allegations

FINRA has barred Mario L. Martinez, a market leader with Merrill Edge in Fort Lauderdale, Florida, after he declined to cooperate with a regulatory investigation. According to AdvisorHub, the probe began following a tip that Martinez
accepted a loan from a client, among other alleged misconduct.

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Revenue Sharing in Wealth Management Continues Despite Criticism

Posted on June 2nd, 2025 at 1:28 PM
Revenue Sharing in Wealth Management Continues Despite Criticism

Revenue sharing remains one of the wealth management industry’s most controversial and opaque practices.

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Former LPL Advisor Sanctioned by FINRA Over Undisclosed Real Estate Venture

Posted on May 30th, 2025 at 1:43 PM
Former LPL Advisor Sanctioned by FINRA Over Undisclosed Real Estate Venture

FINRA has fined a former LPL Financial advisor and suspended him for three months after allegations surfaced that he operated a real estate development business without his firm’s approval.

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FINRA Sanctions Former Broker for Undisclosed Private Equity and Securities Activities

Posted on May 29th, 2025 at 9:51 AM
FINRA Sanctions Former Broker for Undisclosed Private Equity and Securities Activities

FINRA has sanctioned former registered representative Thomas A. Rapp for engaging in undisclosed outside business and private securities transactions while associated with M Holdings. The enforcement action stems from a Letter of Acceptance, Waiver and Consent (AWC) Rapp submitted under FINRA Rule 9216, resolving the matter without admitting or denying FINRA’s findings.

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