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Tagged with "Eccleston Law"

SEC Finds Deficiencies in Broker-Dealers' Anti-Money Laundering Policies

Posted on August 8th, 2023 at 1:11 PM
SEC Finds Deficiencies in Broker-Dealers' Anti-Money Laundering Policies

The Securities and Exchange Commission (SEC) has issued an alert to broker-dealers regarding deficiencies found in their examinations related to crucial anti-money laundering (AML) requirements.

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Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration

Posted on August 7th, 2023 at 1:37 PM
Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration

A Virginia federal judge recently dismissed a complaint filed by a registered investment advisor (RIA), Colonial River Wealth Advisors, against broker-dealer Cambridge Investment Research, in favor of arbitration to resolve the dispute.

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DOJ Accuses Advisors of $5M Fraud Amid Lawsuit Against Trump Attorney

Posted on August 4th, 2023 at 1:08 PM
DOJ Accuses Advisors of $5M Fraud Amid Lawsuit Against Trump Attorney

The Justice Department has charged investment advisor brothers Adam and Daniel Kaplan with wire and investment fraud and money laundering. 

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Former J.P. Morgan Advisor Receives Additional Sanctions For Misleading Testimony

Posted on August 3rd, 2023 at 1:18 PM
Former J.P. Morgan Advisor Receives Additional Sanctions For Misleading Testimony

Last year, a J.P. Morgan advisor, Howard S. Rothman, was required to pay $100,000 due to alleged perjury during a contentious arbitration with his former partner.

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SEC Accuses Florida Resident of Running $35 Million Ponzi Scheme Targeting Church Members

Posted on August 2nd, 2023 at 11:51 AM
SEC Accuses Florida Resident of Running $35 Million Ponzi Scheme Targeting Church Members

The Securities and Exchange Commission (SEC) has charged Brent Seaman and several entities under his management with conducting fraudulent activities.

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SEC Proposes Reforms for Internet-Exclusive Investment Advisers

Posted on August 1st, 2023 at 10:51 AM
SEC Proposes Reforms for Internet-Exclusive Investment Advisers

The Securities and Exchange Commission (SEC) introduced proposed amendments to the rule that allows specific investment advisers offering their services online to register with the Commission.

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FINRA Fines LPL Over Failure to Detect Harmful Wire Transfers to Clients

Posted on July 31st, 2023 at 1:13 PM
FINRA Fines LPL Over Failure to Detect Harmful Wire Transfers to Clients

The Financial Industry Regulatory Authority Inc. (FINRA) imposed a $3 million fine on LPL Financial for failing to oversee two financial advisors adequately.

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PIABA Urges SEC to Limit RIAs' Mandatory Arbitration and Mandate Disclosure of Client Claims

Posted on July 28th, 2023 at 11:02 AM
PIABA Urges SEC to Limit RIAs' Mandatory Arbitration and Mandate Disclosure of Client Claims

The Public Investors Advocate Bar Association (PIABA), a trade group representing plaintiffs' lawyers, has urged the Securities and Exchange Commission (SEC) to take action against the "broken" arbitration system used by investors bringing claims against registered investment advisers (RIAs).

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FINRA Suspends Former LPL Advisor for Unreported Moonlighting as College Professor and Hedge Fund Advisor

Posted on July 27th, 2023 at 1:48 PM
FINRA Suspends Former LPL Advisor for Unreported Moonlighting as College Professor and Hedge Fund Advisor

The Financial Industry Regulatory Authority (FINRA) finalized a letter of settlement, formally known as an Acceptance, Waiver and Consent (“AWC”), suspending a former LPL Financial advisor, Gregory E. Collins, for six months and imposing a $12,500 fine.

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Potential Downturn Predicted for RIA Mergers and Acquisitions

Posted on July 26th, 2023 at 9:44 AM
Potential Downturn Predicted for RIA Mergers and Acquisitions

According to DeVoe & Company's second-quarter RIA Deal Book report, RIA mergers and acquisitions (M&A) are experiencing a decline.

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TESTIMONIALS

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

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