Tagged with "Eccleston Law"

SEC Releases Final Reg BI Staff Bulletin Addressing Duty of Care

Posted on April 27th, 2023 at 1:45 PM
SEC Releases Final Reg BI Staff Bulletin Addressing Duty of Care

The Securities and Exchange Commission (SEC) recently published a final staff bulletin on Regulation Best Interest (Reg BI), this time highlighting the “duty of care”, with the goal of definitively outlining financial advisors’ ethical responsibilities. 

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These Two State Regulators Serve as Financial Markets’ Primary First Responders

Posted on April 26th, 2023 at 1:35 PM
These Two State Regulators Serve as Financial Markets’ Primary First Responders

Two state securities regulators frequently stand out as “First Responders.”

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SEC Charges Betterment For Misstatements Regarding Tax Loss Harvesting Service

Posted on April 25th, 2023 at 1:20 PM
SEC Charges Betterment For Misstatements Regarding Tax Loss Harvesting Service

The Securities and Exchange Commission (SEC) has charged Betterment LLC for material misstatements and omissions regarding its automated tax loss harvesting services (TLH). 

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FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock

Posted on April 25th, 2023 at 8:52 AM
FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock

The Financial Industry Regulatory Authority (FINRA) has ordered RBC Wealth Management to pay $1.1 million after the firm allegedly failed to adequately supervise numerous advisors’ sales of syndicate preferred stock.

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FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock

Posted on April 24th, 2023 at 1:53 PM
FINRA Orders RBC to Pay $1.1 Million Over Alleged Churning of Preferred Stock

The Financial Industry Regulatory Authority (FINRA) has ordered RBC Wealth Management to pay $1.1 million after the firm allegedly failed to adequately supervise numerous advisors’ sales of syndicate preferred stock.

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SEC Charges Corvex Management For Failing to Disclose Conflicts of Interest

Posted on April 21st, 2023 at 1:14 PM
SEC Charges Corvex Management For Failing to Disclose Conflicts of Interest

The Securities and Exchange Commission (SEC) has charged Corvex Management for failing to disclose conflicts of interest related to its personnel’s ownership of sponsors of special purpose acquisition companies (SPACs).

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Ohio-Based Financial Advisors Indicted Over Massive $72 Million Ponzi Scheme

Posted on April 20th, 2023 at 1:10 PM
Ohio-Based Financial Advisors Indicted Over Massive $72 Million Ponzi Scheme

Ohio Attorney General Dave Yost and Ohio Department of Commerce Director Sherry Maxfield have announced multiple felony charges against a group of financial advisors who allegedly misappropriated $72 million from at least 200 clients during the past decade.

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SEC Approves FINRA’s More Restrictive CRD Expungement Rules

Posted on April 19th, 2023 at 1:07 PM
SEC Approves FINRA’s More Restrictive CRD Expungement Rules

The Securities and Exchange Commission (SEC) has approved a new Financial Industry Regulatory Authority (FINRA) rule that makes it more difficult for financial advisors to expunge disputes and misconduct from their records.

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FINRA Re-Files Remote Inspection Pilot Proposal With SEC

Posted on April 18th, 2023 at 1:20 PM
FINRA Re-Files Remote Inspection Pilot Proposal With SEC

The Financial Industry Regulatory Authority (FINRA) has resubmitted a proposal to the Securities and Exchange Commission (SEC) in order to permit firms to conduct remote inspections as part of a pilot program.

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FINRA Arbitration Panel Awards Double Damages to Florida Investor Over Advisor’s “Egregious” Lies

Posted on April 17th, 2023 at 4:11 PM
FINRA Arbitration Panel Awards Double Damages to Florida Investor Over Advisor’s  “Egregious” Lies

A Financial Industry Regulatory Authority (FINRA) arbitration panel has doubled the damages a former advisor must pay to a Florida-based investor due to the “particularly egregious” lies the advisor told to convince the client to invest in a fraud.

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TESTIMONIALS

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We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

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September 18, 2025
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The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

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FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.