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Tagged with "Eccleston Law"

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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FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

Posted on September 8th, 2022 at 1:48 PM
FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

The Financial Industry Regulatory Authority (FINRA) has issued a 45-day suspension and a $5,000 fine on a former Merrill Lynch advisor who allegedly completed unauthorized trades in three separate client accounts. 

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