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Tagged with "Eccleston Law"

Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Posted on September 16th, 2025 at 11:35 AM
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.

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California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

Posted on September 15th, 2025 at 2:59 PM
California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.

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LPL Broker Fined and Suspended for Recommending Risky Investments to Elderly Client

Posted on September 12th, 2025 at 10:11 AM
LPL Broker Fined and Suspended for Recommending Risky Investments to Elderly Client

An LPL Financial broker in Elizabethtown, Kentucky, has agreed to sanctions after FINRA found he violated Regulation Best Interest (Reg BI) when recommending unsuitable investments to an elderly customer.

 

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Montana Federal Judge Allows Family's Premium Financing Claims to Proceed

Posted on September 11th, 2025 at 11:57 AM
Montana Federal Judge Allows Family's Premium Financing Claims to Proceed

A federal judge in Montana has allowed a family to move forward with negligence, fraud, and unjust enrichment claims tied to a premium-financed life insurance arrangement valued at $67.5 million.

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Arizona Man Sentenced to 30 Years for Multi-Million Dollar Ponzi-Style Fraud

Posted on September 10th, 2025 at 11:25 AM
Arizona Man Sentenced to 30 Years for Multi-Million Dollar Ponzi-Style Fraud

An Arizona man has been sentenced to 30 years in prison for running a Ponzi-style investment scheme that defrauded more than 100 victims out of millions of dollars, according to the U.S. Attorney’s Office for the District of New Mexico.

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Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits

Posted on September 9th, 2025 at 11:54 AM
Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has suffered a dramatic collapse, losing nearly half its value in June and now trading at a net asset value (NAV) of $2.95 per share.

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SEC Fines New York RIA $50,000 for Custody Rule Violations

Posted on September 8th, 2025 at 1:32 PM
SEC Fines New York RIA $50,000 for Custody Rule Violations

The Securities and Exchange Commission (SEC) has fined Munakata Associates, a New York-based registered investment adviser, $50,000 for failing to comply with the agency’s custody rule requirements.

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Merrill Lynch Advisor Faces FINRA Disciplinary Action for Refusing to Cooperate with Investigation

Posted on September 5th, 2025 at 2:07 PM
Merrill Lynch Advisor Faces FINRA Disciplinary Action for Refusing to Cooperate with Investigation

The Financial Industry Regulatory Authority (FINRA) has initiated disciplinary proceedings against former Merrill Lynch broker Ali F. Chehab of Portland, Oregon. According to ThinkAdvisor, FINRA alleges that he refused to cooperate in an investigation into potential misconduct, including unauthorized trading and material misrepresentations to clients.

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Wells Fargo Ties $2,000 Bonus to Non-Solicitation Clause, Raising Advisor Concerns

Posted on September 4th, 2025 at 11:45 AM
Wells Fargo Ties $2,000 Bonus to Non-Solicitation Clause, Raising Advisor Concerns

Wells Fargo & Co. recently issued a $2,000 bank-wide award to its 215,000 employees, following the Federal Reserve’s June decision to lift its asset growth restrictions.

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Kansas City Advisory Firms Agree to $25.5 Million Settlement Over No-Poach Allegations

Posted on September 3rd, 2025 at 1:57 PM
Kansas City Advisory Firms Agree to $25.5 Million Settlement Over No-Poach Allegations

Mariner Wealth Advisors, along with two other Kansas City-area firms, has agreed to a $25.5 million class action settlement over allegations that they illegally agreed not to solicit each other’s advisors.

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LATEST NEWS AND ARTICLES

1792610544 Law
October 21, 2026
FINRA Fines and Suspends Former LPL Broker Over Undisclosed Customer Settlement

The Financial Industry Regulatory Authority (FINRA) fined former LPL Financial broker Gregory W.

1792523173 Law
October 20, 2026
FINRA Orders American Portfolios to Pay $1.6 Million Over Unit Investment Trust Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered American Portfolios, the broker-dealer later absorbed into Osaic, to pay more than $1.6 million in restitution and fines over failures to supervise financial advisors who repeatedly recommended that customers sell unit investment trusts (UITs) before maturity.

1792432258 Law
October 19, 2026
FINRA Bars Former LPL Broker Over Alleged $1.7 Million Customer Theft

The Financial Industry Regulatory Authority (FINRA) has barred former LPL Financial broker Rudy Anguiano after finding that he converted more than $1.7 million from two customers, according to AdvisorHub.