Tagged with "Eccleston Law"

Financial Advisor Faces Prison for Defrauding Military Families

Posted on May 20th, 2024 at 1:15 PM
Financial Advisor Faces Prison for Defrauding Military Families

A former financial advisor, Caz Craffy, faces a 20-year prison sentence for defrauding families of deceased military servicemembers, raking in over $1 million in commissions along the way.

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Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

Posted on May 17th, 2024 at 11:41 AM
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

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CFTC Investigates Banks for Potential Whistleblower Suppression

Posted on May 16th, 2024 at 10:26 AM
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.

 

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NFA Issues Order Against 50.ai Investments LLC

Posted on May 15th, 2024 at 2:54 PM
NFA Issues Order Against 50.ai Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.

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Former Edward Jones Advisor Cleared to Solicit Clients for Wells Fargo Advisors

Posted on May 13th, 2024 at 1:12 PM
Former Edward Jones Advisor Cleared to Solicit Clients for Wells Fargo Advisors

In a recent decision, a panel of three Financial Industry Regulatory Authority (FINRA) arbitrators ruled against Edward D. Jones & Co., allowing one of its former advisors, Justin P. Mackay, to solicit his former clients to transfer their assets to Wells Fargo Advisors.

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SEC Bars Financial Advisor for Securities Trading Scheme

Posted on May 10th, 2024 at 1:33 PM
SEC Bars Financial Advisor for Securities Trading Scheme

The Securities and Exchange Commission (SEC) has barred financial advisor Andrew Komarow from the securities industry, following a similar bar by FINRA.

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Colorado Cracks Down on Imposter Investment Firms

Posted on May 9th, 2024 at 1:10 PM
Colorado Cracks Down on Imposter Investment Firms

Colorado Securities Commissioner Tung Chan recently took action against two fraudulent investment firms, Joyce Dunbar Management, and Fluxia Capital Management, accusing them of deceptive practices.

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J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

Posted on May 8th, 2024 at 11:55 AM
J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

J.P. Morgan Securities has been directed to pay $250,000 in damages to a New York financial advisor following allegations of defamation in a regulatory filing upon his departure from the firm in 2022.

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UBS Advisors Ordered to Pay Nearly $334,000 in Dispute with AllianceBernstein

Posted on May 7th, 2024 at 1:47 PM
UBS Advisors Ordered to Pay Nearly $334,000 in Dispute with AllianceBernstein

An arbitration award revealed that two UBS advisors in Philadelphia, Elijah Dornstreich and Ryan DePaul, are required to pay approximately $334,000 in damages, legal fees, and costs to their former firm, AllianceBernstein, due to a dispute over customer solicitation.

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SEC Cracks Down on Misuse of Artificial Intelligence

Posted on May 6th, 2024 at 2:53 PM

The U.S. Securities and Exchange Commission (SEC) has taken action against two money managers, Delphia (USA) Inc. and Global Predictions Inc., for allegedly making false and misleading statements regarding their utilization of artificial intelligence (AI) technology.

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