Tagged with "Eccleston Law"

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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LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Failures

Posted on September 13th, 2024 at 5:02 PM
LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Failures

LPL Financial faces a fine of up to $50 million from the Securities and Exchange Commission (SEC) for non-compliance with records preservation rules, as reported by InvestmentNews.

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FINRA Launches Pilot Program for Remote Branch Inspections

Posted on September 12th, 2024 at 10:37 AM
FINRA Launches Pilot Program for Remote Branch Inspections

According to InvestmentNews, a total of 741 FINRA member firms have joined a three-year pilot program assessing remote inspections of branches and offices.

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New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

Posted on September 11th, 2024 at 10:58 AM
New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

The U.S. Treasury Department has finalized anti-money-laundering (AML) regulations targeting investment advisers registered with the U.S. Securities and Exchange Commission (SEC).

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FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest

Posted on September 10th, 2024 at 11:24 AM
FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest

The Financial Industry Regulatory Authority (FINRA) has barred Christopher Reynolds for forging customer signatures on annuity documents and violating Regulation Best Interest (Reg BI). 

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TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations

Posted on September 9th, 2024 at 3:57 PM
TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations

Toronto-Dominion Bank (TD Bank) has allocated $2.6 billion to cover anticipated fines related to failures in its anti-money laundering (AML) controls.

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If you are being bothered by the Regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

September 19, 2025
Financial Advisors Split on AI Adoption

Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that financial advisors remain divided on its role and value.

September 18, 2025
Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.