Tagged with "Eccleston Law"

Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum

Posted on September 25th, 2023 at 11:37 AM
Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum

Apollo Global Management and Carlyle Group, two major private equity firms, now face investor lawsuits regarding payments made to insiders without apparent justification.

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State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

Posted on September 22nd, 2023 at 10:55 AM
State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.

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SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

Posted on September 21st, 2023 at 11:03 AM
SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset investments, with
inadequate disclosure of millions of dollars in real estate brokerage fees paid to a brokerage firm owned by its CEO.

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SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Posted on September 20th, 2023 at 8:49 AM
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).

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Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

Posted on September 19th, 2023 at 10:26 AM
Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

The Financial Industry Regulatory Authority (FINRA) has fined and censured broker-dealer Network 1 Financial Securities and its chief compliance officer for violating Regulation Best Interest (Reg BI).

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Troubles at an Arizona Park Funded by Municipal Bonds Are a Warning to Investors

Posted on September 18th, 2023 at 2:20 PM
Troubles at an Arizona Park Funded by Municipal Bonds Are a Warning to Investors

The recent financial troubles at a sports arena in Mesa, Arizona, demonstrate that not all municipal bonds are equally safe.

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Goldman Sachs and JPMorgan Join $500 Million Lawsuit Settlement

Posted on September 15th, 2023 at 1:35 PM
Goldman Sachs and JPMorgan Join $500 Million Lawsuit Settlement

Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., and UBS AG have agreed to settle an antitrust class action by pension funds over their control of the market for stock loans for hedging and short selling, according to Bloomberg Law.

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SEC's Examination of RIAs Focuses on Leadership Changes

Posted on September 14th, 2023 at 10:09 AM
SEC's Examination of RIAs Focuses on Leadership Changes

The Securities and Exchange Commission’s Division of Examinations issued a risk alert announcing its new focus.

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SEC Introduces Stricter Fee Disclosure Rules for Hedge Funds and Private Equity Firms

Posted on September 13th, 2023 at 1:16 PM
SEC Introduces Stricter Fee Disclosure Rules for Hedge Funds and Private Equity Firms

The US Securities and Exchange Commission (SEC) has adopted new rules that will compel hedge funds and private equity firms to provide more transparent information about their fees and impose restrictions on granting special privileges to investors.

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Massachusetts Supreme Court Affirms Fiduciary Duty Rule for Brokers

Posted on September 12th, 2023 at 11:36 AM
Massachusetts Supreme Court Affirms Fiduciary Duty Rule for Brokers

The Massachusetts Supreme Judicial Court ruled that William Galvin, the state's top securities regulator, acted within his authority in September 2020 when he established the state's investment advice rule, which imposed a fiduciary duty rule on financial advisors.

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LATEST NEWS AND ARTICLES

February 9, 2026
FINRA Orders Osaic Unit to Pay Over $5 Million for Misleading Bank Deposit Program Disclosures

The Financial Regulatory Authority (FINRA) ordered independent broker-dealer Osaic and its acquired firm, American Portfolios Financial Services, to pay more than $5 million after finding that American Portfolios misled customers about how it calculated fees in its bank deposit program.

February 6, 2026
Delaware Regulators Fine Kovack Advisors $985,000

Kovack Advisors Inc., the registered investment adviser affiliate of independent broker-dealer Kovack Securities Inc., agreed to pay a $985,000 fine to Delaware securities regulators.

February 5, 2026
FINRA Fines Broker-Dealer for Repeated Form CRS Disclosure Failures

The Financial Industry Regulatory Authority (FINRA) fined VSI Securities Inc., formerly known as Venecredit Securities Inc., $20,000 for failing to accurately disclose the firm’s disciplinary history in its customer relationship summary, known as Form CRS.