Tagged with "Eccleston Law"

Brokerage Firm Settles FINRA Allegations for Texting Lapses and Due Diligence Deficiencies

Posted on July 2nd, 2024 at 9:16 AM
Brokerage Firm Settles FINRA Allegations for Texting Lapses and Due Diligence Deficiencies

A recent settlement between a Florida-based brokerage firm and the Financial Industry Regulatory Authority (FINRA) has drawn attention to the importance of retaining
business-related text messages and conducting due diligence on private placement offerings.

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Financial Advisor Awarded $376,000 in Partnership Dispute

Posted on July 1st, 2024 at 2:15 PM
Financial Advisor Awarded $376,000 in Partnership Dispute

Financial advisors often partner with other financial advisors, but how they document the arrangement is critically important.

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Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

Posted on June 28th, 2024 at 11:04 AM
Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

A federal judge has issued a restraining order against two Raymond James advisors, preventing them from contacting their former clients at TD Bank.

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Former Advisor Sentenced for Stealing Elderly Client's Life Savings

Posted on June 27th, 2024 at 1:32 PM
Former Advisor Sentenced for Stealing Elderly Client's Life Savings

Eddy Ray Blizzard, a former financial advisor, has been sentenced to 3.5 years in federal prison for stealing nearly $1 million from an elderly client.

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FINRA Panel Order Advisor to Pay $2.6 Million for Soliciting Former Clients

Posted on June 26th, 2024 at 3:14 PM
FINRA Panel Order Advisor to Pay $2.6 Million for Soliciting Former Clients

A FINRA arbitration panel ruled against advisor Nicole E. Sennett for allegedly attempting to solicit former clients after selling her practice to Monocacy Wealth Partners.

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IRS Highlights Tax Scams Targeting High-Net-Worth Individuals

Posted on June 25th, 2024 at 10:18 AM
IRS Highlights Tax Scams Targeting High-Net-Worth Individuals

The Internal Revenue Service (IRS) has concluded its annual Dirty Dozen campaign, spotlighting the most egregious tax scams. According to WealthManagement.com, this year's focus includes schemes aimed at high-net-worth individuals (HNWI).

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Examining Firm Liability for Third-Party and Client Misdeeds

Posted on June 24th, 2024 at 12:01 PM
Examining Firm Liability for Third-Party and Client Misdeeds

FinancialPlanning.com recently asked, “How much liability can a firm have for the actions of third-party vendors or clients?” This question has surfaced in various legal
contexts, most recently in a lawsuit against Wells Fargo, which faces allegations of failing to detect a $300 million Ponzi scheme perpetrated by a client.

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Merrill Lynch Increases Referral Fees to Recruit Veteran Advisors

Posted on June 20th, 2024 at 4:29 PM
Merrill Lynch Increases Referral Fees to Recruit Veteran Advisors

Merrill Lynch has begun enhancing its recruitment efforts- now offering headhunters a 10 percent referral fee, up from 8 percent, for successful placements. This increase targets 34 specific markets, including key locations like Los Angeles and certain rural areas outside the Bank of America footprint in an attempt to attract veteran advisors.

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CFTC Joins SEC in Probing Wall Street Banks Over Non-Disclosure Agreements

Posted on June 19th, 2024 at 10:18 AM
CFTC Joins SEC in Probing Wall Street Banks Over Non-Disclosure Agreements

The Commodity Futures Trading Commission (CFTC) is investigating major Wall Street banks to determine if their non-disclosure agreements (NDAs) are preventing potential whistleblowers from reporting violations.

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SEC's Private Fund Advisors Rules Create Challenges

Posted on June 18th, 2024 at 1:28 PM
SEC's Private Fund Advisors Rules Create Challenges

Registered Investment Advisors (RIAs) are facing a pivotal moment as they gear up to comply with the Securities and Exchange Commission's (SEC) Private Fund Advisers Rules, with the most stringent requirements set to take effect later this year and early in 2025.

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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 ...