Tagged with "Eccleston Law"

Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

Posted on October 29th, 2024 at 10:42 AM
Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

A Massachusetts court has granted Glenn Frank, a 69-year-old advisor suing Hightower for age discrimination, a preliminary victory by temporarily blocking Hightower from enforcing its non-solicitation covenants against him.

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Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

Posted on October 28th, 2024 at 2:26 PM
Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

A FINRA arbitration panel has ordered Wells Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida.

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SEC Fines Thrivent Investment Management for Red BI Violations

Posted on October 25th, 2024 at 1:27 PM
SEC Fines Thrivent Investment Management for Red BI Violations

The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) in its investment recommendations to retail brokerage clients.

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FINRA Suspends Former LPL Advisor for Unapproved Business Activities

Posted on October 24th, 2024 at 11:40 AM
FINRA Suspends Former LPL Advisor for Unapproved Business Activities

FINRA has suspended a former LPL Financial advisor for one month and fined her $5,000 for engaging in unapproved outside business activities related to property management services, according to a settlement agreement known as an AWC (Acceptance, Waiver, and Consent).

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Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

Posted on October 23rd, 2024 at 10:57 AM
Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

A former Merrill Lynch advisor, John Rollin Revelle, has been suspended for 10 months and fined $7,500 by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized activities, including working for a cryptocurrency exchange and issuing misleading asset verification letters.

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NASAA Highlights Common Violations by State-Registered Investment Advisors

Posted on October 22nd, 2024 at 1:43 PM
NASAA Highlights Common Violations by State-Registered Investment Advisors

State securities regulators took significant enforcement actions in 2023, with many cases stemming from breaches of fiduciary duty and failures to register, according to the North American Securities Administrators Association (NASAA).

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SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

Posted on October 21st, 2024 at 11:44 AM
SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

The Securities and Exchange Commission (SEC) continues its strict enforcement of recordkeeping requirements, fining 11 firms a combined $88.2 million for failing to preserve electronic communications.

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SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures

Posted on October 18th, 2024 at 3:20 PM
SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures

The Securities and Exchange Commission (SEC) recently charged Inspire Investing LLC, an Idaho-based investment adviser, with making misleading statements and failing to maintain compliance with its own "biblically responsible investing" strategy.

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Team Breakups Surge Among Financial Advisors Despite Firm Incentives

Posted on October 17th, 2024 at 1:28 PM
Team Breakups Surge Among Financial Advisors Despite Firm Incentives

In recent months, several high-profile departures have highlighted a growing trend: financial advisors are splitting from longtime teams and even family members to pursue opportunities with other firms. 

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FINRA Penalizes Advisor for Falsifying Client Signatures

Posted on October 16th, 2024 at 2:44 PM
FINRA Penalizes Advisor for Falsifying Client Signatures

FINRA has imposed a $7,500 fine and a one-year suspension on Richard Dean Connally.

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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

February 6, 2026
Delaware Regulators Fine Kovack Advisors $985,000

Kovack Advisors Inc., the registered investment adviser affiliate of independent broker-dealer Kovack Securities Inc., agreed to pay a $985,000 fine to Delaware securities regulators.

February 5, 2026
FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

The Financial Industry Regulatory Authority (FINRA) fined VSI Securities Inc., formerly known as Venecredit Securities Inc., $20,000 for failing to accurately disclose the firm’s disciplinary history in its customer relationship summary, known as Form CRS.

February 4, 2026
Investor Redemptions Rise in Nontraded BDCs Amid Credit Concerns

Financial advisors and their clients have increased redemptions from nontraded business development companies (BDCs) following a series of high-profile corporate bankruptcies, according to InvestmentNews. The surge highlights growing investor concern about liquidity and credit exposure within these high-yield but often risky investment ...