Tagged with "Eccleston Law"

FINRA Suspends Former Merrill Advisor Who Managed $2 Billion Florida Team

Posted on June 21st, 2022 at 1:08 PM
FINRA Suspends Former Merrill Advisor Who Managed $2 Billion Florida Team

The Financial Industry Regulatory Authority (FINRA) has issued a six-week suspension and a $5,000 fine to a former Merrill Lynch advisor who previously had helped to establish a $2 billion team.

 
 

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Three Former J.P. Morgan Advisors Prevail In $3 Million Transition Dispute

Posted on June 20th, 2022 at 3:28 PM
Three Former J.P. Morgan Advisors Prevail In $3 Million Transition Dispute

A Financial Industry Regulatory Authority (FINRA) arbitration panel has denied J.P. Morgan’s claims against three former advisors who allegedly had violated their non-solicitation agreements while transferring to a new firm.

 
 

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SEC Seeks to Have Court Appoint Receiver For GPB Capital

Posted on June 17th, 2022 at 12:53 PM
SEC Seeks to Have Court Appoint Receiver For GPB Capital

The Securities and Exchange Commission (SEC) has presented a plan to a New York federal judge that would place GPB Capital Holdings into receivership with the objective to return money to what the SEC terms “defrauded investors”.

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UBS Recovers $2.3 Million From Former Advisor But Must Revise Form U-5 Termination Language

Posted on June 16th, 2022 at 1:16 PM
UBS Recovers $2.3 Million From Former Advisor But Must Revise Form U-5 Termination Language

A Financial Industry Regulatory Authority (FINRA) arbitration panel recently ordered a former Atlanta-based UBS advisor to repay the firm at least $2.1 million in loans and interest as well as $208,000 in attorneys’ fees.

 
 

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FINRA Arbitrators Order Morgan Stanley and Former Advisor to Pay Damages to Mexican Farmer

Posted on June 15th, 2022 at 1:10 PM
FINRA Arbitrators Order Morgan Stanley and Former Advisor to Pay Damages to Mexican Farmer

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley and a former advisor with the firm to each pay $160,000 in damages to a Mexican farmer for allegedly making improper recommendations.

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Barred Sarasota Advisor Becomes Subject Of GWG Bond Complaint

Posted on June 14th, 2022 at 1:23 PM
Barred Sarasota Advisor Becomes Subject Of GWG Bond Complaint

An advisor who received a Financial Industry Regulatory Authority (FINRA) bar last year and had numerous BrokerCheck “disclosures” has become the main subject of a client complaint alleging negligence over GWG L Bond sales.

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Market Volatility Sparks Heightened Scrutiny of Complex Products Sales

Posted on June 13th, 2022 at 1:07 PM
Market Volatility Sparks Heightened Scrutiny of Complex Products Sales

Market volatility can expose financial advisory firms that fail to supervise and ensure their advisors adhere to Regulation Best Interest (Reg BI) rules when they recommend complex products, according to FINRA.

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UBS Sues Former Advisor Robert Turner Over Alleged Misappropriation of Client Funds

Posted on June 10th, 2022 at 11:23 AM
UBS Sues Former Advisor Robert Turner Over Alleged Misappropriation of Client Funds

UBS Financial Services has filed suit against a former Waco, Texas, advisor who allegedly misappropriated nearly $17 million from at least 23 investors over a 24-year period.

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SEC Charges Hedge Fund Advisor Over Alleged $39 Million Fraud

Posted on June 9th, 2022 at 1:01 PM
SEC Charges Hedge Fund Advisor Over Alleged $39 Million Fraud

The Securities and Exchange Commission (SEC) has filed fraud charges against EIA All Weather Alpha Fund I Partners LLC (EIA) and its owner, Andrew Middlebrooks, for allegedly operating a multi-year scheme that involved the misappropriation of investor funds.

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SEC Charges RiverSource Distributors With Improper Switching of Variable Annuities

Posted on June 8th, 2022 at 11:23 AM
SEC Charges RiverSource Distributors With Improper Switching of Variable Annuities

The Securities and Exchange Commission (SEC) has agreed to a settlement with RiverSource Distributors Inc. for improper switching or replacing of variable annuities. According to the SEC, RiverSource sold variable annuities to retail clients through an affiliated investment advisory firm, Ameriprise Financial Services.

 
 

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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.