Tagged with "Eccleston Law"

FINRA Penalizes Baird Over $100 Trading Commissions

Posted on September 22nd, 2022 at 2:15 PM
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

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FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

Posted on September 21st, 2022 at 1:23 PM
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy. 

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SEC Charges Private Fund Advisor and Owner With Fraud

Posted on September 20th, 2022 at 12:01 PM
SEC Charges Private Fund Advisor and Owner With Fraud

The Securities and Exchange Commission (SEC) has charged Ramas Capital Management (RCM) as well as its managing partner and owner, Ganesh Betanabhatla, over alleged misrepresentations and breaches of fiduciary duty to a privately-managed fund and its sole investor. 

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State Regulators Warn Investors About The Metaverse

Posted on September 19th, 2022 at 12:51 PM
State Regulators Warn Investors About The Metaverse

While the metaverse is fake, real fraudsters within the virtual world can cause actual financial harm, according to state securities regulators. 

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SEC Charges Two North Carolina Advisors Over Alleged $75 Million Fraud

Posted on September 16th, 2022 at 2:09 PM
SEC Charges Two North Carolina Advisors Over Alleged $75 Million Fraud

The Securities and Exchange Commission (SEC) has charged two North Carolina-based advisors, Gregory Lindberg and Christopher Herwig, with defrauding clients out of at least $75 million through unauthorized trades.

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SEC Charges Hedge Fund Portfolio Manager with Fraud

Posted on September 15th, 2022 at 2:55 PM
SEC Charges Hedge Fund Portfolio Manager with Fraud

The Securities and Exchange Commission (SEC) has charged an Oklahoma City-based hedge fund portfolio manager with defrauding investors by making unauthorized trades that caused the fund to lose at least $10 million.

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Terraform Labs Faces Class Action Over TerraUS Failure

Posted on September 15th, 2022 at 11:16 AM
Terraform Labs Faces Class Action Over TerraUS Failure

Terraform Labs is facing a potential class action suit over the collapse of its TerraUS stablecoin, which generated millions in losses to investors. 

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Former Wisconsin Advisor Receives 84-Month Prison Sentence For Fraud

Posted on September 13th, 2022 at 3:39 PM
Former Wisconsin Advisor Receives 84-Month Prison Sentence For Fraud

A former Wisconsin-based advisor has received an 84-month prison sentence for defrauding nearly 100 investors and a bank, according to the Department of Justice. 

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Former David Lerner Advisor Agrees To Settlement Over Proprietary Energy Fund

Posted on September 12th, 2022 at 12:55 PM
Former David Lerner Advisor Agrees To Settlement Over Proprietary Energy Fund

The Financial Industry Regulatory Authority (FINRA) has agreed to a settlement with a barred David Lerner advisor over the millions of dollars of unpaid distributions owed to investors who purchased a proprietary energy fund prior to energy prices collapsing in 2020.

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FINRA Settles With Kovack Over Failure to Supervise

Posted on September 9th, 2022 at 1:11 PM
FINRA Settles With Kovack Over Failure to Supervise

Kovack Securities over the firm’s failure to supervise one of its unnamed advisors who improperly recommended short-term investments in mutual fund share classes. 

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LATEST NEWS AND ARTICLES

February 11, 2026
Ameriprise Advisor Phishing Incident Potentially Exposes Client Data

A phishing incident involving an Ameriprise Financial advisor potentially exposed the personal information of hundreds of clients, according to a disclosure posted by the Maine Attorney General’s office.

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.