Tagged with "Eccleston Law"

Wells Fargo Terminates Advisor Over $60 Personal Expense

Posted on December 3rd, 2024 at 9:07 AM
Wells Fargo Terminates Advisor Over $60 Personal Expense

Wells Fargo Advisors recently terminated Charles J. Kraft, a 30-year industry veteran, over a $60 expense account infraction.

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Class Action Suits Target Major Banks Over Cash Sweep Programs

Posted on November 27th, 2024 at 1:04 PM
Class Action Suits Target Major Banks Over Cash Sweep Programs

Wells Fargo, Merrill Lynch, and Morgan Stanley face class action lawsuits alleging they exploited cash sweep programs to generate “massive revenue” at clients' expense.

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Arizona Revokes Advisor's License for Misrepresenting High-Risk GPB Capital Investments

Posted on November 26th, 2024 at 10:21 AM
Arizona Revokes Advisor's License for Misrepresenting High-Risk GPB Capital Investments

The Arizona Corporation Commission has revoked the license of Scottsdale-based investment advisor representative Luke M. Johnson, who sold over $10 million in high-risk private placements by GPB Capital Holdings. 

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Osaic Advisor Fined and Suspended for Submitting False Bank Statements

Posted on November 25th, 2024 at 2:13 PM
Osaic Advisor Fined and Suspended for Submitting False Bank Statements

AdvisorHub recently reported that the Financial Industry Regulatory Authority (FINRA) has imposed a $5,000 fine and a two-month suspension on Kalomira Zangoulos, a former Osaic advisor in Sterling Heights, Michigan.

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B. Riley Sells Employee Wealth Management Group to Stifel

Posted on November 22nd, 2024 at 2:11 PM
B. Riley Sells Employee Wealth Management Group to Stifel

B. Riley Financial Inc. has announced the sale of part of its employee wealth management division to Stifel Financial Corp. 

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SEC Fines New Jersey Brokerage and RIA Firms $240,000 for Impending Client Reporting

Posted on November 21st, 2024 at 1:17 PM
SEC Fines New Jersey Brokerage and RIA Firms $240,000 for Impending Client Reporting

The Securities and Exchange Commission (SEC) has fined Nationwide Planning Associates, a New Jersey-based independent brokerage, and two affiliated registered investment advisory firms, NPA Asset Management and Blue Point Strategic Wealth, $240,000. 

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Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

Posted on November 20th, 2024 at 3:58 PM
Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illinois was set to rule on the firm’s injunction request.

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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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If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

December 1, 2025
UBS Winds Down Funds as First Brands Bankruptcy Ripples Through Global Markets

UBS Group AG has begun liquidating two invoice finance funds with direct exposure to First Brands Group, marking one of the earliest moves by a major financial institution to contain the fallout from the bankrupt auto-parts supplier’s collapse, as reported by Bloomberg Law.

November 26, 2025
Former GWG Chair Charged in Alleged $150 Million Fraud Scheme as Investor Losses Mount

Federal prosecutors have intensified scrutiny of the long-running collapse of GWG Holdings Inc., unveiling criminal charges against Bradley Heppner, the former chair of both GWG and Beneficient.

November 25, 2025
Financial Advisor Accepts FINRA Bar Amidst Investigation into Alleged Misappropriation

A financial advisor affiliated with a credit union connected to Raymond James Financial agreed to an industry bar after declining to cooperate with FINRA’s investigation into allegations that he misappropriated client funds.