Tagged with "Eccleston Law"

Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

Posted on November 19th, 2024 at 1:39 PM
Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive and unsuitable options trading from June 2018 to August 2019.

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Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Rule Violations

Posted on November 18th, 2024 at 3:47 PM
Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Rule Violations

The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC’s marketing rule.

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FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

Posted on November 15th, 2024 at 2:20 PM
FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims. 

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SIFMA Challenges CFP Board

Posted on November 14th, 2024 at 10:46 AM
SIFMA Challenges CFP Board

According to InvestmentNews, the Securities Industry and Financial Markets Association (SIFMA) released a whitepaper criticizing the Certified Financial Planner (CFP) Board’s standards enforcement, asserting it operates as a “de facto, private
regulator.” 

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FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

Posted on November 13th, 2024 at 10:23 AM
FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance violations involving his relationship with an elderly client.

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Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

Posted on November 12th, 2024 at 2:25 PM
Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

A Kentucky-based financial advisor accepted a $5,000 fine and a two-month suspension for operating a bourbon-tasting business without notifying his employer, Edward Jones, as required by FINRA rules.

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Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

Posted on November 11th, 2024 at 2:45 PM
Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

Charles Schwab and its affiliates are under scrutiny after recent lawsuits allege the firm failed to prevent scammers from defrauding elderly clients.

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Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

Posted on November 8th, 2024 at 11:50 AM
Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed indexed universal life (IUL) insurance program. 

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Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

Posted on November 7th, 2024 at 3:26 PM
Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal data such as Social Security numbers and driver’s license information.

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SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

Posted on November 6th, 2024 at 1:33 PM
SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.

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LATEST NEWS AND ARTICLES

November 4, 2025
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.

November 3, 2025
Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam and a separate scheme involving over $4.75 million in fraudulent Paycheck Protection Program (PPP) loans, according to U.S. Attorney Gregory W. Kehoe for the Middle District of Florida.

October 31, 2025
Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was unduly influenced when it issued an advisory opinion that sought to undermine their deferred compensation claims.