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Tagged with "Eccleston Law"

FINRA Revives Plan To Design Expungement Arbitrator Roster

Posted on June 6th, 2022 at 11:03 AM
FINRA Revives Plan To Design Expungement Arbitrator Roster

The Financial Industry Regulatory Authority (FINRA) has announced that it has approved amendments to a rule creating a roster of arbitrators to hear expungement requests.

 
 

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Wells Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars

Posted on June 3rd, 2022 at 1:36 PM
Wells Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay $987,300 in compensatory damages to a former Credit Suisse advisor for aiding and abetting Credit Suisse.

 
 
 

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SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

Posted on June 3rd, 2022 at 8:40 AM
SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

The Securities and Exchange Commission (SEC) has successfully obtained emergency relief, including asset freezes, against two investment advisory firms and their owners for allegedly selling pre-IPO shares that they did not own.

 
 
 

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SEC Bars Advisor For Misleading Statements Regarding Woodbridge Securities

Posted on June 1st, 2022 at 3:13 PM
SEC Bars Advisor For Misleading Statements Regarding Woodbridge Securities

The Securities and Exchange Commission (SEC) has barred an advisor who made misleading statements in connection with sales of Woodbridge Securities through two registered investment advisory firms (RIAs).

 
 

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Investor Advocates Push SEC to Investigate Mandatory Arbitration Requirements by RIAs

Posted on May 31st, 2022 at 1:10 PM
Investor Advocates Push SEC to Investigate Mandatory Arbitration Requirements by RIAs

A coalition of investor advocates has asked the Securities and Exchange Commission (SEC) to investigate the use of mandatory arbitration clauses that RIAs typically include in their customer agreements.

 
 

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FINRA and SEC Officials Reveal Common Pitfalls in Reg BI Exam Sweeps

Posted on May 31st, 2022 at 8:50 AM
FINRA and SEC Officials Reveal Common Pitfalls in Reg BI Exam Sweeps

Regulators have announced their intention to increase the frequency of examinations as they continue to discover spotty compliance even after Regulation Best Interest (“Reg. BI”) became effective two years ago.

 
 

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Large GPB Fund Posts Revenue and Income Growth

Posted on May 26th, 2022 at 10:42 AM
Large GPB Fund Posts Revenue and Income Growth

After considerable delay, GPB Capital Holdings finally has released financial statements to its investors regarding one of its largest funds.

 
 

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Edward Jones Files Motion to Dismiss $15 Million Book of Business Lawsuit

Posted on May 24th, 2022 at 12:13 PM

A former Edward Jones advisor has filed suit against Edward Jones over a $15 million book of business.

 
 

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FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

Posted on May 23rd, 2022 at 3:09 PM
FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

The Financial Industry Regulatory Authority (FINRA) has suspended a former Morgan Stanley advisor for allegedly misleading investors regarding a private placement sold by the firm.

 
 
 
 

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SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client

Posted on May 23rd, 2022 at 8:33 AM
SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client

The Securities and Exchange Commission has barred an advisor who allegedly misappropriated nearly $305,000 from an elderly client and additionally overcharged the client at least $9,000 in advisory fees.

 
 

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