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Tagged with "Eccleston Law"

MLB Pitcher Turned Financial Advisor Barred By FINRA

Posted on May 31st, 2023 at 3:30 PM
MLB Pitcher Turned Financial Advisor Barred By FINRA

Christopher J. Carpenter, a former Major League Baseball player, has been barred by the Financial Industry Regulatory Authority (FINRA) for his refusal to supply information to FINRA as part of an investigation.

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Compliance Professionals Emphasize the Significance of SEC Reg BI Bulletins in Examinations

Posted on May 30th, 2023 at 3:03 PM
Compliance Professionals Emphasize the Significance of SEC Reg BI Bulletins in Examinations

Securities and Exchange Commission (SEC) top compliance officials recently announced that the Regulation Best Interest (Reg BI) bulletins will be used in future exams.

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Wells Fargo Advisor Sanctioned Due to Role as Customer Account Beneficiary

Posted on May 26th, 2023 at 2:14 PM
Wells Fargo Advisor Sanctioned Due to Role as Customer Account Beneficiary

The Financial Industry Regulatory Authority (FINRA) has imposed a suspension and a $5,000 fine on Mark A. Brewer, a Wells Fargo Advisor, for acting as a beneficiary on a customer account.

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Fidelity Ordered To Pay Options Trader $4 Million

Posted on May 25th, 2023 at 1:15 PM
Fidelity Ordered To Pay Options Trader $4 Million

Financial Industry Regulatory Authority (FINRA) arbitrators have recently ruled in favor of an options trader, ordering Fidelity Brokerage Services to pay nearly $4 million in damages. This decision stems from allegations of mishandling transactions in a margin account, resulting in significant losses for the trader.

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FINRA Focuses On Dual Registrant Hybrid Brokers and Investment Advisors

Posted on May 24th, 2023 at 1:37 PM
FINRA Focuses On Dual Registrant Hybrid Brokers and Investment Advisors

The Financial Industry Regulatory Authority (FINRA) has recently intensified its enforcement efforts to address a concerning issue related to hybrid brokers and investment advisors exploiting their dual status to maximize customer fees and commissions.

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CFP Board Adopts Revised Procedural Rules

Posted on May 23rd, 2023 at 1:12 PM
CFP Board Adopts Revised Procedural Rules

The Certified Financial Planner Board (CFP Board) recently announced the adoption of the revised Procedural Rules. These rules, which will come into effect on September 1, 2023, aim to establish fair and credible processes for investigating misconduct and enforcing the CFP Board's Code of Ethics and Standards of Conduct.

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Top Merrill Advisor Resigns Amid Customer Complaints

Posted on May 22nd, 2023 at 1:09 PM
Top Merrill Advisor Resigns Amid Customer Complaints

William King, a top-ranked advisor, voluntarily resigned last month after receiving at least ten customer complaints since August.

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Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit

Posted on May 19th, 2023 at 1:13 PM
Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit

Wells Fargo has agreed to pay $1 billion to settle a shareholder lawsuit that accused the company of making misleading statements related to its compliance with federal consent orders following the unauthorized customer account scandal in 2016.

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Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme

Posted on May 18th, 2023 at 1:11 PM
Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme

A former Chicago-based commodities trader, Phillip Galles, has been charged with a single count of wire fraud for allegedly misappropriating $2 million after informing clients that the funds would be invested in commodity futures. 

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FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations

Posted on May 17th, 2023 at 1:17 PM
FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations

The Financial Industry Regulatory Authority (FINRA) has sanctioned a New York-based financial advisory firm, SW Financial, and its Chief Executive Officer for multiple violations of Regulation Best Interest (Reg BI).

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TESTIMONIALS

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I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

1785772777 Law
August 3, 2026
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.

1785531573 Law
July 31, 2026
Former Alabama Financial Advisor Barred After Selling His Practice

The U.S.

1785428190 Law
July 30, 2026
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.