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Tagged with "Eccleston Law"

FINRA Bars Advisor for Raising $11 Million in Unapproved Private Investments

Posted on April 11th, 2025 at 1:00 PM
FINRA Bars Advisor for Raising $11 Million in Unapproved Private Investments

The Financial Industry Regulatory Authority (FINRA) has barred a 21-year industry veteran for engaging in unapproved private securities transactions totaling $11 million.

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Vanguard Faces Class Action Lawsuit Over $100 Account Closure Fee

Posted on April 10th, 2025 at 12:30 PM
Vanguard Faces Class Action Lawsuit Over $100 Account Closure Fee

Vanguard is facing a federal class-action lawsuit over a $100 fee imposed on brokerage customers who close their accounts and transfer funds to another firm.

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Commonwealth Financial and Former Edward Jones Advisors Ordered to Pay $3.5 Million in Arbitration Award

Posted on April 9th, 2025 at 10:08 AM
Commonwealth Financial and Former Edward Jones Advisors Ordered to Pay $3.5 Million in Arbitration Award

An arbitration panel has ordered independent broker-dealer Commonwealth Financial and a group of advisors formerly with Edward D. Jones & Co. to pay $3.5 million following a legal dispute over their departure, according to an arbitration award.

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CFP Board Seeks Public Input on Changes to Certification Rules

Posted on April 8th, 2025 at 9:21 AM
CFP Board Seeks Public Input on Changes to Certification Rules

The CFP Board is requesting public comment on proposed revisions to its procedural rules regarding certification eligibility for candidates with a single bankruptcy or multiple misdemeanor convictions related to alcohol or drug offenses.

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CFTC Unveils New Guidelines to Reward Cooperation and Self-Reporting in Enforcement Actions

Posted on April 7th, 2025 at 2:07 PM
CFTC Unveils New Guidelines to Reward Cooperation and Self-Reporting in Enforcement Actions

The U.S. Commodity Futures Trading Commission (CFTC) has issued a new advisory that formalizes how it will evaluate cooperation and self-reporting when determining penalties in enforcement matters. According to InvestmentNews, acting Chairman Caroline Pham announced the move as part of a broader shift in the agency’s enforcement posture, aimed at incentivizing faster case resolution and more reasonable penalties.

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LPL Financial Experiences Trading System Outage Amid Market Volatility

Posted on April 4th, 2025 at 11:49 AM
LPL Financial Experiences Trading System Outage Amid Market Volatility

LPL Financial, the largest independent broker-dealer in the U.S., experienced widespread system outages on April 3rd, preventing advisors from executing trades for hours.

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FINRA Seeks Public Input on Rule Modernization

Posted on April 3rd, 2025 at 2:26 PM
FINRA Seeks Public Input on Rule Modernization

The Financial Industry Regulatory Authority (FINRA) is conducting a comprehensive review of its rules and is soliciting feedback from industry participants. According to ThinkAdvisor, the review aims to modernize regulations, particularly concerning remote work and branch office requirements.

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Bybit Suffers Massive $1.5 Billion Crypto Hack Amid Security Concerns

Posted on April 2nd, 2025 at 3:04 PM
Bybit Suffers Massive $1.5 Billion Crypto Hack Amid Security Concerns

Bybit, a major cryptocurrency exchange, has fallen victim to a devastating security breach, resulting in the theft of approximately $1.5 billion in Ethereum.

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CFP Board Releases AI Ethics Guide for Its Certificants

Posted on April 1st, 2025 at 3:43 PM
CFP Board Releases AI Ethics Guide for Its Certificants

The CFP Board has released a "Generative AI Ethics Guide" to address the growing use of artificial intelligence in financial advising.

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Margin Debt Hits Record Highs

Posted on March 31st, 2025 at 12:24 PM
Margin Debt Hits Record Highs

Investors' use of margin trading has surged to unprecedented levels, with debit balances in margin accounts reaching a record $937 billion as of January 2025, according to FINRA.

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TESTIMONIALS

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

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