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Tagged with "Eccleston Law"

Brokerage Firm Settles FINRA Allegations for Texting Lapses and Due Diligence Deficiencies

Posted on July 2nd, 2024 at 9:16 AM
Brokerage Firm Settles FINRA Allegations for Texting Lapses and Due Diligence Deficiencies

A recent settlement between a Florida-based brokerage firm and the Financial Industry Regulatory Authority (FINRA) has drawn attention to the importance of retaining
business-related text messages and conducting due diligence on private placement offerings.

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Financial Advisor Awarded $376,000 in Partnership Dispute

Posted on July 1st, 2024 at 2:15 PM
Financial Advisor Awarded $376,000 in Partnership Dispute

Financial advisors often partner with other financial advisors, but how they document the arrangement is critically important.

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Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

Posted on June 28th, 2024 at 11:04 AM
Federal Judge Restrains Raymond James from Soliciting Former TD Bank Clients

A federal judge has issued a restraining order against two Raymond James advisors, preventing them from contacting their former clients at TD Bank.

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Former Advisor Sentenced for Stealing Elderly Client's Life Savings

Posted on June 27th, 2024 at 1:32 PM
Former Advisor Sentenced for Stealing Elderly Client's Life Savings

Eddy Ray Blizzard, a former financial advisor, has been sentenced to 3.5 years in federal prison for stealing nearly $1 million from an elderly client.

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FINRA Panel Order Advisor to Pay $2.6 Million for Soliciting Former Clients

Posted on June 26th, 2024 at 3:14 PM
FINRA Panel Order Advisor to Pay $2.6 Million for Soliciting Former Clients

A FINRA arbitration panel ruled against advisor Nicole E. Sennett for allegedly attempting to solicit former clients after selling her practice to Monocacy Wealth Partners.

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IRS Highlights Tax Scams Targeting High-Net-Worth Individuals

Posted on June 25th, 2024 at 10:18 AM
IRS Highlights Tax Scams Targeting High-Net-Worth Individuals

The Internal Revenue Service (IRS) has concluded its annual Dirty Dozen campaign, spotlighting the most egregious tax scams. According to WealthManagement.com, this year's focus includes schemes aimed at high-net-worth individuals (HNWI).

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Examining Firm Liability for Third-Party and Client Misdeeds

Posted on June 24th, 2024 at 12:01 PM
Examining Firm Liability for Third-Party and Client Misdeeds

FinancialPlanning.com recently asked, “How much liability can a firm have for the actions of third-party vendors or clients?” This question has surfaced in various legal
contexts, most recently in a lawsuit against Wells Fargo, which faces allegations of failing to detect a $300 million Ponzi scheme perpetrated by a client.

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Merrill Lynch Increases Referral Fees to Recruit Veteran Advisors

Posted on June 20th, 2024 at 4:29 PM
Merrill Lynch Increases Referral Fees to Recruit Veteran Advisors

Merrill Lynch has begun enhancing its recruitment efforts- now offering headhunters a 10 percent referral fee, up from 8 percent, for successful placements. This increase targets 34 specific markets, including key locations like Los Angeles and certain rural areas outside the Bank of America footprint in an attempt to attract veteran advisors.

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CFTC Joins SEC in Probing Wall Street Banks Over Non-Disclosure Agreements

Posted on June 19th, 2024 at 10:18 AM
CFTC Joins SEC in Probing Wall Street Banks Over Non-Disclosure Agreements

The Commodity Futures Trading Commission (CFTC) is investigating major Wall Street banks to determine if their non-disclosure agreements (NDAs) are preventing potential whistleblowers from reporting violations.

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SEC's Private Fund Advisors Rules Create Challenges

Posted on June 18th, 2024 at 1:28 PM
SEC's Private Fund Advisors Rules Create Challenges

Registered Investment Advisors (RIAs) are facing a pivotal moment as they gear up to comply with the Securities and Exchange Commission's (SEC) Private Fund Advisers Rules, with the most stringent requirements set to take effect later this year and early in 2025.

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LATEST NEWS AND ARTICLES

1792610544 Law
October 21, 2026
FINRA Fines and Suspends Former LPL Broker Over Undisclosed Customer Settlement

The Financial Industry Regulatory Authority (FINRA) fined former LPL Financial broker Gregory W.

1792523173 Law
October 20, 2026
FINRA Orders American Portfolios to Pay $1.6 Million Over Unit Investment Trust Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered American Portfolios, the broker-dealer later absorbed into Osaic, to pay more than $1.6 million in restitution and fines over failures to supervise financial advisors who repeatedly recommended that customers sell unit investment trusts (UITs) before maturity.

1792432258 Law
October 19, 2026
FINRA Bars Former LPL Broker Over Alleged $1.7 Million Customer Theft

The Financial Industry Regulatory Authority (FINRA) has barred former LPL Financial broker Rudy Anguiano after finding that he converted more than $1.7 million from two customers, according to AdvisorHub.