Tagged with "Eccleston Law"

FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

Posted on February 19th, 2024 at 1:54 PM

During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker-dealers' communications about cryptocurrencies.

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Major Investors Opt Out of Class Actions, Pursue Larger Recoveries

Posted on February 16th, 2024 at 1:59 PM
Major Investors Opt Out of Class Actions, Pursue Larger Recoveries

Large shareholders increasingly are choosing to opt out of class-action settlements, a trend that has gained momentum since a pivotal US Supreme Court ruling altered the landscape.

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New Jersey Advisor Faces Charges for Alleged $89 Million Investor Fraud Scheme

Posted on February 15th, 2024 at 2:42 PM
New Jersey Advisor Faces Charges for Alleged $89 Million Investor Fraud Scheme

Raymond John Pirrello Jr., a barred New Jersey advisor, has been indicted on three counts, including securities fraud conspiracy and wire fraud conspiracy, for allegedly defrauding investors of nearly $89 million.

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FINRA Adopts New Rules for Remote Inspections and Home Offices

Posted on February 14th, 2024 at 11:50 AM
FINRA Adopts New Rules for Remote Inspections and Home Offices

The Financial Industry Regulatory Authority (FINRA) has implemented new rules to enhance its remote inspections pilot program and address home offices as "residential supervisory locations."

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Robinhood Settles Regulatory Action and Agrees to Overhaul Gamification Practices

Posted on February 13th, 2024 at 1:44 PM
Robinhood Settles Regulatory Action and Agrees to Overhaul Gamification Practices

After a prolonged legal battle with the Massachusetts Securities Division, Robinhood has agreed to pay $7.5 million and revamp its digital engagement practices, according to Secretary of the Commonwealth William Galvin.

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FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades

Posted on February 12th, 2024 at 10:57 AM
FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades

A former Edward Jones financial advisor in San Francisco, Jilena Yuen-Han Mok, has been fined and suspended by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized trading.

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New "XXXX" Exchange-Traded Notes Draw Attention

Posted on February 9th, 2024 at 11:21 AM
New

A recently introduced investment strategy in the United States is gaining attention for its amplified stock leverage.

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FINRA Issues Warning Amid Surge in "Investment Group" Frauds on Social Media

Posted on February 8th, 2024 at 2:27 PM
FINRA Issues Warning Amid Surge in

The Financial Industry Regulatory Authority (FINRA) reports a surge in investor complaints related to fraudulent "investment groups" exploiting social media platforms.

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FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations

Posted on February 7th, 2024 at 3:10 PM
FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations

Malay Kumar, a former advisor affiliated with Cambridge Investment Research, recently agreed to settle a disciplinary matter brought by FINRA. The AWC (Acceptance, Waiver, and Consent) reflects a $10,000 fine and a 12-month suspension. The settlement revealed that Kumar recommended a series of variable annuity exchanges that violated Reg BI.

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RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Wealth Following FINRA Fine

Posted on February 6th, 2024 at 10:45 AM
RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Wealth Following FINRA Fine

EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percent stake to Sanctuary Wealth almost two years ago.

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LATEST NEWS AND ARTICLES

November 6, 2025
Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Eric A. Dupre to pay nearly $2.2 million in damages to his former firm and two customers following allegations of theft and elder exploitation.

November 5, 2025
Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

The Financial Industry Regulatory Authority (FINRA) has suspended former Wells Fargo representative Eyan M. Townsend for one year and fined him $10,000 for using personal text messages to conduct business and attempting to obstruct an internal investigation by deleting those communications.

November 4, 2025
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.