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Tagged with "Eccleston Law"

FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red Flags

Posted on September 25th, 2024 at 11:33 AM
FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red Flags

FINRA has acted against an Independent Financial Group (IFG) supervisor for failing to respond to red flags involving excessive trading in five customer accounts.

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CFP Board Revises Sanction Guidelines and Fitness Standards

Posted on September 24th, 2024 at 11:16 PM
CFP Board Revises Sanction Guidelines and Fitness Standards

The CFP Board has finalized revisions to its Sanction Guidelines and Fitness Standards.

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Former LPL Financial Advisor Fined and Suspended for Unauthorized Signatures

Posted on September 23rd, 2024 at 10:35 AM
Former LPL Financial Advisor Fined and Suspended for Unauthorized Signatures

According to AdvisorHub, Justin Y. Gerow has been fined $5,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations of signing customer account transfer forms without permission.

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Recruiting Loans Drive Growth in Financial Planning Firms

Posted on September 20th, 2024 at 1:32 PM
Recruiting Loans Drive Growth in Financial Planning Firms

Recruiting in the financial planning industry remains a crucial strategy for growth, with major firms like LPL Financial and Morgan Stanley leading the charge by offering substantial recruiting loans to attract advisors.

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FINRA Rule Protects Advisors' Private Addresses on BrokerCheck

Posted on September 19th, 2024 at 11:53 AM
FINRA Rule Protects Advisors' Private Addresses on BrokerCheck

FINRA recently implemented a rule allowing advisors to keep their personal home addresses off the public BrokerCheck database by simply checking a box.

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Merrill Lynch and Bank of America Fined $3 Million for Failing to Monitor Manipulative Trading

Posted on September 18th, 2024 at 10:53 AM
Merrill Lynch and Bank of America Fined $3 Million for Failing to Monitor Manipulative Trading

Merrill Lynch and its parent company, Bank of America, have agreed to pay a $3 million fine and accepted censure from FINRA for their failure to properly monitor potentially manipulative trading activities.

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Understanding the Role of Recruiting Loans in Wealth Management Growth

Posted on September 17th, 2024 at 1:40 PM
Understanding the Role of Recruiting Loans in Wealth Management Growth

Recruiting loan balances can offer insight into a wealth management firm's growth strategy, but they do not tell the whole story. Industry compensation consultant Andrew Tasnady told Financial Planning that firms that have seen the most revenue growth in recent years often have large recruiting loan balances.

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Former Raymond James Advisor Fined and Suspended for Undisclosed Outside Business Activity

Posted on September 16th, 2024 at 11:15 AM
Former Raymond James Advisor Fined and Suspended for Undisclosed Outside Business Activity

Andrew R. Hutcheson, a former advisor with Raymond James' Alex Brown division in Los Angeles, has agreed to a $5,000 fine and a 30-day suspension following allegations of failing to disclose his involvement in an outside business.

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LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Failures

Posted on September 13th, 2024 at 5:02 PM
LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Failures

LPL Financial faces a fine of up to $50 million from the Securities and Exchange Commission (SEC) for non-compliance with records preservation rules, as reported by InvestmentNews.

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FINRA Launches Pilot Program for Remote Branch Inspections

Posted on September 12th, 2024 at 10:37 AM
FINRA Launches Pilot Program for Remote Branch Inspections

According to InvestmentNews, a total of 741 FINRA member firms have joined a three-year pilot program assessing remote inspections of branches and offices.

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LATEST NEWS AND ARTICLES

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SEC Approves FINRA Overhaul of Outside Business Activity Rules

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Red Flags to Watch for in Pre-IPO Investment Scams

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