Tagged with "Eccleston Law"

FINRA Bars Former LPL and Raymond James Advisor Who Improperly Borrowed $850,000 From Clients

Posted on April 12th, 2023 at 1:16 PM
FINRA Bars Former LPL and Raymond James Advisor Who Improperly Borrowed $850,000  From Clients

The Financial Industry Regulatory Authority (FINRA) has barred a Chattanooga-based financial advisor who improperly borrowed at least $850,000.

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Blackstone REIT Limited Investor Redemptions in March

Posted on April 11th, 2023 at 1:14 PM
Blackstone REIT Limited Investor Redemptions in March

Blackstone Real Estate Income Trust, a non-traded real estate investment trust sponsored by Blackstone Group, announced that the company fulfilled only 15% of repurchase requests in March.

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SEC Seeks to Expand “Dealer” Definition to Expand Regulatory Oversight

Posted on April 11th, 2023 at 8:47 AM
SEC Seeks to Expand “Dealer” Definition to Expand Regulatory Oversight

The Securities and Exchange Commission (SEC) is seeking to expand its definition of “securities dealers”, which has resulted in criticism from various private fund and investment advisors that wish to avoid additional regulatory oversight.

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FINRA Submits Further Revisions To Remote Supervision Proposal

Posted on April 6th, 2023 at 3:05 PM
FINRA Submits Further Revisions To Remote Supervision Proposal

The Financial Industry Regulatory Authority (FINRA) has submitted to the Securities and Exchange Commission (SEC) another revision to one of its two remote supervision proposals. 

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FINRA Warns Firms Regarding Fraudulent Account Transfers

Posted on April 5th, 2023 at 1:54 PM
FINRA Warns Firms Regarding Fraudulent Account Transfers

The Financial Industry Regulatory Authority (FINRA) is warning financial advisory firms about a recent increase in fraudulent transfers of client accounts via the Automated Customer Account Transfer Service (ACATS).

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Morgan Stanley Ordered to Pay $782,000 Over Mismanagement of Client’s Estate

Posted on April 4th, 2023 at 1:05 PM
Morgan Stanley Ordered to Pay $782,000 Over Mismanagement of Client’s Estate

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $782,000 to a client’s estate after the firm allegedly ignored court-ordered limits when permitting a conservator to withdraw from the account.

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Non-Traded REIT Redemptions Exceed 350% of Fundraising in February

Posted on April 3rd, 2023 at 1:31 PM
Non-Traded REIT Redemptions Exceed 350% of Fundraising in February

Fundraising among non-traded real estate investment trusts has dipped to $489 million in February 2023, which constitutes the lowest point since August 2020.

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SEC Charges Financial Advisor With Misappropriating Funds From NBA Players

Posted on March 31st, 2023 at 1:18 PM
SEC Charges Financial Advisor With Misappropriating Funds From NBA Players

The Securities and Exchange Commission (SEC) has charged a former Morgan Stanley advisor, Darryl Cohen, with misappropriating nearly $1 million from three current and former NBA players over a two-and-a-half-year period.

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Coinbase Receives SEC Wells Notice Regarding Intent to File Suit Over Crypto Offerings

Posted on March 30th, 2023 at 1:20 PM
Coinbase Receives SEC Wells Notice Regarding Intent to File Suit Over Crypto Offerings

Coinbase Global announced that it has received a Wells Notice from the Securities and Exchange Commission (SEC) declaring the regulator’s intent to file an enforcement action against the cryptocurrency exchange.

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FINRA Suspends Long Island Advisor Over Inaccurate Client Contact Notes

Posted on March 29th, 2023 at 2:31 PM
FINRA Suspends Long Island Advisor Over Inaccurate Client Contact Notes

The Financial Industry Regulatory Authority (FINRA) has issued a two-month suspension to a Long Island-based advisor, Derek Rehill, for allegedly recording inaccurate notes related to four phone calls with clients.

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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.