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Tagged with "Eccleston Law"

Former LPL Advisor Created Fraudulent Bank Account To Steal $1.3 Million From Customer

Posted on June 15th, 2023 at 11:01 AM

The Securities and Exchange Commission (SEC) filed a complaint accusing Patrick N. Thayer of stealing $1.3 million from a customer.

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Silver Star Properties REIT Raises Concerns about Future Viability in SEC Filing

Posted on June 15th, 2023 at 8:59 AM
Silver Star Properties REIT Raises Concerns about Future Viability in SEC Filing

Silver Star Properties REIT Inc., previously known as Hartman Short Term Income Properties XX Inc., has raised concerns about its ability to sustain operations in its latest quarterly report filed with the Securities and Exchange Commission (SEC).

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SEC Announces Expanded Scope of Marketing Rule Compliance Exams for Investment Advisers

Posted on June 13th, 2023 at 2:08 PM
SEC Announces Expanded Scope of Marketing Rule Compliance Exams for Investment Advisers

The Securities and Exchange Commission (SEC) recently released a risk alert announcing that examiners now will broaden their focus when reviewing firms' compliance with a marketing rule that took effect in November.

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Morgan Stanley Wealth Management Initiates Management Restructuring in Southern New Jersey and New York City

Posted on June 12th, 2023 at 1:14 PM
Morgan Stanley Wealth Management Initiates Management Restructuring in Southern New Jersey and New York City

In an internal announcement this week, Morgan Stanley unveiled what it portrays as a strategic reorganization in Southern New Jersey and New York City, with the net result being that Christopher W. Shaw, a Morgan Stanley veteran, and manager in Southern
New Jersey, will step down.

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Retrospective Review Deadline Approaching

Posted on June 9th, 2023 at 2:11 PM
Retrospective Review Deadline Approaching

The deadline for completing the initial retrospective review required by the Department of Labor (DOL) is quickly approaching.

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Former David Lerner Branch Manager Receives FINRA Sanctions for Supervisory Lapses

Posted on June 8th, 2023 at 10:54 AM
Former David Lerner Branch Manager Receives FINRA Sanctions for Supervisory Lapses

The Financial Industry Regulatory Authority (FINRA) imposed a one-month suspension and a $5,000 fine on former David Lerner Associates branch manager Rande Aaronson.

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SEC Files Fraud Charges Against Financial Advisor for Exploiting Elderly Clients

Posted on June 7th, 2023 at 1:17 PM
SEC Files Fraud Charges Against Financial Advisor for Exploiting Elderly Clients

The Securities and Exchange Commission (SEC) has charged Douglas McKelvey, a former Morgan Stanley financial advisor, with fraud for misappropriating more than $1.7 million from two elderly customers who were his close relatives.

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Morgan Stanley Ordered to Pay Huntington Bank's Brokerage Unit

Posted on June 5th, 2023 at 9:07 AM
Morgan Stanley Ordered to Pay Huntington Bank's Brokerage Unit

Morgan Stanley, along with two advisors, has been found jointly responsible for $333,000 in damages and legal fees by an arbitration panel of the Financial Industry Regulatory Authority (FINRA).

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Former Morgan Stanley Advisor Sentenced To 7.25 Years For Fraud

Posted on June 2nd, 2023 at 1:26 PM
Former Morgan Stanley Advisor Sentenced To 7.25 Years For Fraud

Shawn E. Good pleaded guilty in September to wire fraud and money laundering charges based on allegations that he had operated a decade-long Ponzi scheme from 2012 to 2022. 

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Morgan Stanley Ordered to Pay Huntington Bank's Brokerage Unit

Posted on June 1st, 2023 at 1:15 PM
Morgan Stanley Ordered to Pay Huntington Bank's Brokerage Unit

Morgan Stanley, along with two advisors, has been found jointly responsible for $333,000 in damages and legal fees by an arbitration panel of the Financial Industry Regulatory Authority (FINRA).

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FINRA Launches Review of High-Risk Structured Notes Sales and Supervision

The Financial Industry Regulatory Authority (FINRA) has launched a regulatory sweep examining the sale of high-risk structured products, with particular attention on non-principal protected "worst-of" structured notes, according to AdvisorHub.

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Former Alabama Financial Advisor Barred After Selling His Practice

The U.S.

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CFP Board Proposes New Rules for Handling Expunged Criminal Records

The CFP Board has announced that it is considering a proposal to change how it treats applicants with expunged criminal convictions, according to Wealth Management.