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Tagged with "Eccleston Law"

FINRA Sanctions Over 60 Advisors for Continuing Education Violations

Posted on December 20th, 2024 at 5:17 PM
FINRA Sanctions Over 60 Advisors for Continuing Education Violations

FINRA has disciplined 62 advisors for cheating on New York’s continuing education (CE) requirements tied to insurance license renewals. 

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GPB Capital Investors See Progress as Court Confirms Receivership

Posted on December 19th, 2024 at 1:08 PM
GPB Capital Investors See Progress as Court Confirms Receivership

In a significant development for investors in GPB Capital Holdings, the private equity firm will move into receivership following a prolonged legal battle.

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SEC Fines Cantor Fitzgerald $6.75 Million for Misleading SPAC Investors

Posted on December 18th, 2024 at 10:53 AM
SEC Fines Cantor Fitzgerald $6.75 Million for Misleading SPAC Investors

The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) under its control to make misleading statements to investors before their initial public offerings (IPOs). 

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Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades

Posted on December 17th, 2024 at 10:58 AM
Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades

The SEC recently charged Ken Leech, former Co-CIO of Western Asset Management, with fraud. 

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Wells Fargo Advisors Tightens Rules on FiNet Advisors' Outside Investments

Posted on December 16th, 2024 at 11:22 AM
Wells Fargo Advisors Tightens Rules on FiNet Advisors' Outside Investments

Wells Fargo Advisors has introduced a new policy requiring advisors in its Financial Network (FiNet) channel to seek company approval before accepting certain outside investments. 

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Merrill Lynch Advisor Penalized for CFP Exam Misconduct

Posted on December 13th, 2024 at 9:15 AM
Merrill Lynch Advisor Penalized for CFP Exam Misconduct

Jeffrey Dattilo, a former Merrill Lynch advisor, has agreed to regulatory penalties for allegedly providing improper assistance to others taking the Certified Financial Planner (CFP) exam.

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Paychex Securities Advisor Penalized for Undisclosed Referral Agreement with RIA

Posted on December 13th, 2024 at 8:59 AM
Paychex Securities Advisor Penalized for Undisclosed Referral Agreement with RIA

A former advisor has agreed to a $7,500 fine and a six-month suspension following allegations of failing to disclose a referral agreement with an outside registered investment advisory (RIA) firm.

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Brokerage Firms Shift Away from Centralized Portfolio Management as Advisor Autonomy Grows

Posted on December 11th, 2024 at 11:03 AM
Brokerage Firms Shift Away from Centralized Portfolio Management as Advisor Autonomy Grows

After years of promoting centralized portfolio management, brokerage firms are increasingly supporting advisors who prefer more control over investment decisions, according to AdvisorHub

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Former Wells Fargo Advisor Pleads Guilty to $3 Million Fraud Scheme

Posted on December 10th, 2024 at 11:18 AM
Former Wells Fargo Advisor Pleads Guilty to $3 Million Fraud Scheme

A former Wells Fargo advisor, Kenneth A. Welsh, has pleaded guilty to charges of wire fraud and investment advisor fraud after stealing over $3 million from his clients, according to WealthManagement.

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Court Dismisses Whistleblower Lawsuit Against Fidelity Investments

Posted on December 9th, 2024 at 11:14 AM
Court Dismisses Whistleblower Lawsuit Against Fidelity Investments

A federal court has dismissed a whistleblower lawsuit filed by a former financial advisor against Fidelity Investments. According to ThinkAdvisor, the case involves allegations that the company fired him for reporting unethical practices.

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