Tagged with "Eccleston Law"

FINRA Bars Advisor Over Misuse of Client Funds and Not Cooperating

Posted on November 11th, 2025 at 9:35 AM
FINRA Bars Advisor Over Misuse of Client Funds and Not Cooperating

The Financial Industry Regulatory Authority (FINRA) has barred former Raymond James financial advisor Jose A. Gamez after he failed to appear for testimony in connection with allegations that he used client funds for personal purposes.

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FINRA Suspends Former Wells Fargo Broker Over Unapproved Real Estate Venture

Posted on November 7th, 2025 at 1:49 PM
FINRA Suspends Former Wells Fargo Broker Over Unapproved Real Estate Venture

The Financial Industry Regulatory Authority (FINRA) suspended former Wells Fargo broker George J. Cairnes for four months and fined him $25,000 for engaging in unapproved real estate outside business activity, according to a settlement letter issued.

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Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

Posted on November 6th, 2025 at 3:23 PM
Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Eric A. Dupre to pay nearly $2.2 million in damages to his former firm and two customers following allegations of theft and elder exploitation.

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Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

Posted on November 5th, 2025 at 3:20 PM
Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

The Financial Industry Regulatory Authority (FINRA) has suspended former Wells Fargo representative Eyan M. Townsend for one year and fined him $10,000 for using personal text messages to conduct business and attempting to obstruct an internal investigation by deleting those communications.

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FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

Posted on November 4th, 2025 at 9:23 AM
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.

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Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

Posted on November 3rd, 2025 at 9:53 AM
Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam and a separate scheme involving over $4.75 million in fraudulent Paycheck Protection Program (PPP) loans, according to U.S. Attorney Gregory W. Kehoe for the Middle District of Florida.

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Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

Posted on October 31st, 2025 at 10:13 AM
Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was unduly influenced when it issued an advisory opinion that sought to undermine their deferred compensation claims.

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SEC Sues Former Franchise Group CEO Over $350 Million Hedge Fund Fraud

Posted on October 30th, 2025 at 2:32 PM
SEC Sues Former Franchise Group CEO Over $350 Million Hedge Fund Fraud

The Securities and Exchange Commission (SEC) filed a lawsuit against Brian Kahn, former CEO of Franchise Group Inc., alleging he defrauded investors of more than $350 million in a multi-year investment adviser fraud tied to the collapse of Prophecy Asset Management (Prophecy).

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FINRA Foundation Study Reveals Alarming Investor Susceptibility to Fraudulent Offers

Posted on October 29th, 2025 at 1:58 PM
FINRA Foundation Study Reveals Alarming Investor Susceptibility to Fraudulent Offers

The FINRA Investor Education Foundation (FINRA Foundation) has released preliminary findings from its upcoming report, Investors in the United States: A Report of the National Financial Capability Study.

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UBS Seeks Court Order Against $1.4 Billion Florida Advisory Team Over Client Solicitation Allegations

Posted on October 28th, 2025 at 2:29 PM
UBS Seeks Court Order Against $1.4 Billion Florida Advisory Team Over Client Solicitation Allegations

UBS Wealth Management USA has filed a lawsuit and requested a temporary restraining order (TRO) against a $1.4 billion advisory team that recently departed to join Elevation Point, a West Palm Beach-based registered investment advisor launched just 15 months ago.

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LATEST NEWS AND ARTICLES

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.

February 4, 2026
Investor Redemptions Rise in Nontraded BDCs Amid Credit Concerns

Financial advisors and their clients have increased redemptions from nontraded business development companies (BDCs) following a series of high-profile corporate bankruptcies, according to InvestmentNews. The surge highlights growing investor concern about liquidity and credit exposure within these high-yield but often risky investment ...

February 3, 2026
FINRA Accuses Spartan Capital of Widespread Churning That Allegedly Harmed Customers

The Financial Industry Regulatory Authority (FINRA) has brought a disciplinary complaint against Spartan Capital Securities and several senior leaders of the New York City–based broker-dealer, alleging that the firm facilitated excessive trading that generated millions of dollars in revenue while causing substantial losses to customers.