Tagged with "Eccleston Law"

Accredited Investor Standards Under Review Amid Growing Inflation Numbers

Posted on June 17th, 2024 at 11:26 AM
Accredited Investor Standards Under Review Amid Growing Inflation Numbers

The criteria defining who qualifies as an "accredited investor" has not seen inflation adjustments for four decades, resulting in a significant increase in households meeting this definition.

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Wells Fargo Fires Employees for Faking Work

Posted on June 14th, 2024 at 11:39 AM
Wells Fargo Fires Employees for Faking Work

Wells Fargo & Co. recently terminated over a dozen employees following an investigation into allegations of fake work activities.

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FINRA Struggles to Revise Outside Business Rules

Posted on June 13th, 2024 at 1:31 PM
FINRA Struggles to Revise Outside Business Rules

The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, according to Robert Colby, FINRA's chief legal officer.

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Tax Court Denies Madoff Victims $8.2 Million Deduction

Posted on June 12th, 2024 at 2:46 PM
Tax Court Denies Madoff Victims $8.2 Million Deduction

Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insurance premiums.

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Merrill Lynch Fined for Supervisory Failures

Posted on June 11th, 2024 at 11:17 AM
Merrill Lynch Fined for Supervisory Failures

Merrill Lynch has reached an $825,000 settlement with FINRA over allegations of inadequate supervision concerning retail orders and recordkeeping practices dating back to 2017.

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SEC Issues Risk Alert to Broker-Dealers Regarding Examination Criteria

Posted on June 10th, 2024 at 1:27 PM
SEC Issues Risk Alert to Broker-Dealers Regarding Examination Criteria

The Securities and Exchange Commission (SEC) has issued a new Risk Alert, advising broker-dealers that their prior disciplinary history, financial stress indicators, and media reports could make them likely candidates for an examination.

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Oppenheimer & Co. Fined $500,000 by FINRA for Supervisory Lapses

Posted on June 7th, 2024 at 11:27 AM
Oppenheimer & Co. Fined $500,000 by FINRA for Supervisory Lapses

Oppenheimer & Co. has agreed to a $500,000 fine to settle allegations made by FINRA regarding inadequate supervision of certain trades conducted by its advisors directly with fund companies on behalf of customers.

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Regulatory Probes Target Morgan Stanley's Wealth Management Arm

Posted on June 6th, 2024 at 1:20 PM
Regulatory Probes Target Morgan Stanley's Wealth Management Arm

Multiple regulatory agencies, including the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), are conducting investigations into Morgan Stanley's wealth management division, as reported by the Wall Street Journal.

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FINRA Arbitration Awards $100,000 to Investor Over Unsuitable GWG L Bonds

Posted on June 5th, 2024 at 10:57 AM
FINRA Arbitration Awards $100,000 to Investor Over Unsuitable GWG L Bonds

In a recent FINRA arbitration, an investor was awarded close to $100,000 due to unsuitable investments in GWG L bonds purchased in 2018 and 2020.

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SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

Posted on June 4th, 2024 at 1:13 PM
SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

The U.S. Securities and Exchange Commission (SEC) has taken legal action against Robert M. Thompson and Financial Freedom Foundation (F3 Mastermind), a private entity under his control, for allegedly defrauding investors through three securities offerings.

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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 ...