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Tagged with "Eccleston Law"

New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

Posted on September 11th, 2024 at 10:58 AM
New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

The U.S. Treasury Department has finalized anti-money-laundering (AML) regulations targeting investment advisers registered with the U.S. Securities and Exchange Commission (SEC).

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FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest

Posted on September 10th, 2024 at 11:24 AM
FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest

The Financial Industry Regulatory Authority (FINRA) has barred Christopher Reynolds for forging customer signatures on annuity documents and violating Regulation Best Interest (Reg BI). 

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TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations

Posted on September 9th, 2024 at 3:57 PM
TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations

Toronto-Dominion Bank (TD Bank) has allocated $2.6 billion to cover anticipated fines related to failures in its anti-money laundering (AML) controls.

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Veteran Advisor Exits Industry Amid FINRA Probe into UIT Trading Practices

Posted on September 6th, 2024 at 10:00 AM
Veteran Advisor Exits Industry Amid FINRA Probe into UIT Trading Practices

Gregory Alan Corrie, a 30-year industry veteran based in Boise, Idaho, has opted to leave the securities industry rather than cooperate with a FINRA investigation into allegations of improper trading of Unit Investment Trusts (UITs).

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SEC Freezes Assets of Wells Real Estate Investment and Leaders Amid $56 Million Fraud Allegations

Posted on September 5th, 2024 at 1:47 PM
SEC Freezes Assets of Wells Real Estate Investment and Leaders Amid $56 Million Fraud Allegations

The Securities and Exchange Commission (SEC) has taken emergency action against Wells Real Estate Investment, LLC, its CEO Janalie C. Bingham, and Jean Joseph, a previously convicted felon, for allegedly defrauding investors out of $56 million.

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UBS Fined $850,000 for Supervisory Failures Leading to Investor Losses

Posted on September 4th, 2024 at 11:29 AM
UBS Fined $850,000 for Supervisory Failures Leading to Investor Losses

FINRA has fined UBS Wealth Management USA $850,000 for failing to supervise an advisor who recommended unauthorized outside investments for over a decade.

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Wisconsin Financial Advisor Suspended and Fined for Unauthorized Transactions

Posted on September 3rd, 2024 at 10:18 AM
Wisconsin Financial Advisor Suspended and Fined for Unauthorized Transactions

FINRA has suspended and fined Wisconsin financial advisor John E. Pelletier after he executed 16 unauthorized transactions, allowing a client's ex-wife to nearly deplete his individual retirement account (IRA).

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Advisor Sues Hightower, Alleging Age Discrimination and Unfair Treatment

Posted on August 30th, 2024 at 9:01 AM
Advisor Sues Hightower, Alleging Age Discrimination and Unfair Treatment

Glenn Frank, a Massachusetts-based financial advisor, has filed a lawsuit against Hightower Holdings and Lexington Wealth Management, alleging age discrimination and unfair treatment.

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Supreme Court Limits SEC's Use of In-House Tribunals in Securities Fraud Cases

Posted on August 29th, 2024 at 2:01 PM
Supreme Court Limits SEC's Use of In-House Tribunals in Securities Fraud Cases

As reported by InvestmentNews, the Supreme Court ruled in SEC v. Jarkesy that the SEC must bring actions seeking civil penalties for securities fraud in a court of law, where defendants are entitled to a trial by jury.

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FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account

Posted on August 28th, 2024 at 10:25 AM
FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account

As reported by AdvisorHub, the Financial Industry Regulatory Authority (FINRA) has fined a former UBS advisor Luis E. Nin $5,000 and suspended him for one month after he placed unauthorized trades in a deceased client’s account.

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If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

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September 30, 2026
SEC Approves FINRA Overhaul of Outside Business Activity Rules

The Securities and Exchange Commission (SEC) has approved FINRA's long-awaited overhaul of the rules governing outside business activities and private securities transactions by financial advisors.

1790700476 Law
September 29, 2026
Texas Investment Adviser Sentenced to 11 Years for $35 Million Ponzi Scheme

A federal judge has sentenced Siddharth Jawahar, who operated Texas-based investment adviser Swiftarc Capital, to 11 years in prison for running a $35 million Ponzi scheme.

1790615885 Law
September 28, 2026
Red Flags to Watch for in Pre-IPO Investment Scams

Investors considering pre-IPO investments should watch for common warning signs of fraud, according to the Securities and Exchange Commission (SEC).