Tagged with "Eccleston Law"

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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FINRA Arbitration Panel Orders Wells Fargo To Pay Client $500,000 For Mismanagement of McDonald’s Stock Options

Posted on April 14th, 2023 at 2:03 PM
FINRA Arbitration Panel Orders Wells Fargo To Pay Client $500,000 For Mismanagement of  McDonald’s Stock Options

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay a former McDonald’s franchise owner $500,000 for allegedly mishandling stock options he owned in the company.

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SEC Orders Merrill Lynch to Pay $9.7 Million For Failing to Disclose Foreign Exchange Fees

Posted on April 13th, 2023 at 1:21 PM
SEC Orders Merrill Lynch to Pay $9.7 Million For Failing to Disclose Foreign Exchange Fees

The Securities and Exchange Commission (SEC) has ordered Merrill Lynch to pay $9.7 million for failing to disclose certain foreign exchange fees charged to clients for currency conversions.

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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

February 10, 2026
Merrill Lynch Expands Client Disclosures on Crypto and AI Risks

Merrill Lynch updated its required client disclosure brochure to address, for the first time, the evolving risks tied to cryptocurrency-linked investments and the firm’s expanding use of Artificial Intelligence tools.

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.