Tagged with "Eccleston Law"

Chicago FINRA Arbitrators Award Ten Former Financial Advisors Over $3 Million For Forfeited Deferred Compensation Damages, Interest and Attorneys’ Fees

Posted on March 25th, 2024 at 9:17 AM
Chicago FINRA Arbitrators Award Ten Former Financial Advisors Over $3 Million For Forfeited Deferred Compensation Damages, Interest and Attorneys’ Fees

Ten former Morgan Stanley financial advisors have been awarded over $3 million related to the firm’s wrongful forfeiture of the advisors’ deferred compensation.

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Philadelphia Father-Son Advisory Team Awarded Half-Million Dollars in Defamation Case at FINRA

Posted on March 22nd, 2024 at 12:00 PM
Philadelphia Father-Son Advisory Team Awarded Half-Million Dollars in Defamation Case at FINRA

A Philadelphia-based father-son advisory team has won a significant victory in a FINRA arbitration case against their former firm, Woodbury Financial Services.

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TIAA Settles SEC Charges for Violating Reg BI

Posted on March 21st, 2024 at 2:02 PM
TIAA Settles SEC Charges for Violating Reg BI

The Teachers Insurance and Annuity Association of America (TIAA) has agreed to a $2.2 million settlement with the Securities and Exchange Commission (SEC) over allegations of violating Regulation Best Interest (Reg BI) in recommending investment options to clients opening individual retirement accounts (IRAs).

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Investors Navigate Illiquidity in Venture Funds Through Secondary Deals

Posted on March 20th, 2024 at 11:32 AM
Investors Navigate Illiquidity in Venture Funds Through Secondary Deals

The Wall Street Journal reports that the current sluggishness in the venture market has left many investors in venture funds grappling with illiquid portfolios, making it challenging to ascertain their value.

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FINRA's Year-End Enforcement Blitz: LPL Financial and Interactive Brokers Face Major Penalties

Posted on March 19th, 2024 at 2:55 PM
FINRA's Year-End Enforcement Blitz: LPL Financial and Interactive Brokers Face Major Penalties

The Financial Industry Regulatory Authority Inc. (FINRA) concluded the year with significant penalties against two major firms, LPL Financial and Interactive Brokers.

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SEC Charges Individuals in $1.7 Billion Crypto Pyramid Scheme

Posted on March 18th, 2024 at 4:11 PM
SEC Charges Individuals in $1.7 Billion Crypto Pyramid Scheme

The Securities and Exchange Commission (SEC) has filed charges against Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) for their involvement in the
HyperFund crypto asset pyramid scheme, which fraudulently raised over $1.7 billion from global investors.

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FINRA Set to End Temporary Remote Inspection Relief with New Rules

Posted on March 15th, 2024 at 11:52 AM
FINRA Set to End Temporary Remote Inspection Relief with New Rules

The Financial Industry Regulatory Authority (FINRA) announced that it will conclude its temporary relief from in-person inspection requirements, implemented due to the COVID-19 pandemic, on May 31.

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KBS Realty Advisors Fund Faces Uncertainty Amidst Commercial Real Estate Challenges

Posted on March 14th, 2024 at 10:46 AM
KBS Realty Advisors Fund Faces Uncertainty Amidst Commercial Real Estate Challenges

According to a regulatory filing cited by the Dallas Morning News, KBS Real Estate Investment Trust III has raised concerns about its future viability.

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FINRA Implements Reforms to Arbitrator Selection Process

Posted on March 13th, 2024 at 9:34 AM
FINRA Implements Reforms to Arbitrator Selection Process

The Financial Industry Regulatory Authority (“FINRA”) is rolling out reforms to its arbitration forum's panel selection process.

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Morgan Stanley Advisor Barred for Allegedly Embezzling $58,000 from Clients

Posted on March 12th, 2024 at 1:09 PM
Morgan Stanley Advisor Barred for Allegedly Embezzling $58,000 from Clients

Chingyuan "Gary" Chang, a former broker and investment adviser at Morgan Stanley, has been permanently barred from the securities industry by the Securities and Exchange Commission (SEC) for purportedly stealing over $58,000 from four customer accounts.

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LATEST NEWS AND ARTICLES

May 17, 2024
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.

May 16, 2024
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.

 

May 15, 2024
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.