Tagged with "Eccleston Law"

SEC Bars Advisor Over 1 Global Capital Sales

Posted on April 6th, 2022 at 2:20 PM
SEC Bars Advisor Over 1 Global Capital Sales

The Securities and Exchange Commission (SEC) has barred an advisor as well as his firm, which sold $37 million of an investment fraud, 1 Global Capital, between May 2017 and June 2018.

 
 

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Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

Posted on April 5th, 2022 at 2:06 PM
Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

A former New York-based Citigroup advisor has agreed to a client solicitation ban after recently departing Citigroup to join Morgan Stanley.

 
 
 

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FINRA Settles With Geneos Over Improper GPB Sales and “Risky” Alternative Mutual Fund

Posted on April 1st, 2022 at 2:17 PM
FINRA Settles With Geneos Over Improper GPB Sales and “Risky” Alternative Mutual Fund

As part of a settlement, the Financial Industry Regulatory Authority (FINRA) has imposed a $150,000 fine on Geneos Wealth Management pertaining to improper sales of GPB private placements and for failing to supervise its advisors’ recommendations of LJM Preservation & Growth Fund, an alternative mutual fund.

 
 

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FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

Posted on March 31st, 2022 at 1:30 PM
FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

The Financial Industry Regulatory Authority (FINRA) has barred a Salt Lake City-based advisory firm, Alpine Securities, from the industry and has ordered the firm to pay nearly $2.3 million in restitution.

 
 

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UBS Seeks TRO Against Wells Fargo Team Who Sent Video Message to Clients

Posted on March 30th, 2022 at 2:23 PM
UBS Seeks TRO Against Wells Fargo Team Who Sent Video Message to Clients

UBS Wealth Management is seeking a temporary restraining order (TRO) against two former advisors who recently joined Wells Fargo and allegedly sent a video message to solicit their former clients.

 
 

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More Ex-Morgan Stanley FAs Demand Deferred Comp — in Arbitration

Posted on March 30th, 2022 at 10:02 AM

Eccleston Law is representing 10 ex-Morgan Stanley advisors in their claim over forfeited deferred compensation which was filed last week with FINRA.

 
 

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Morgan Stanley Hit With Another Deferred Compensation Claim

Posted on March 29th, 2022 at 12:18 PM
Morgan Stanley Hit With Another Deferred Compensation Claim

Morgan Stanley’s legal woes over its withholding of deferred compensation from brokers who leave for another firm are multiplying. Attorney James Eccleston stressed that a threat still persists in the federal proposed class action that Morgan Stanley will persuade the court to compel the plaintiffs to arbitrate.

 
 
 
 
 

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FINRA Settles With Two Advisory Firms Over Improper Sales Of GPB Private Placements

Posted on March 29th, 2022 at 12:00 PM
FINRA Settles With Two Advisory Firms Over Improper Sales Of GPB Private Placements

The Financial Industry Regulatory Authority (FINRA) has agreed to settlements with two advisory firms over improper sales of GPB Capital Holdings private placements to investors.

 
 

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FINRA’s Top Five Fine Categories for 2021

Posted on March 28th, 2022 at 3:28 PM
FINRA’s Top Five Fine Categories for 2021

The Financial Industry Regulatory Authority (FINRA) issued $91 million in fines in 2021, which constitutes a 60% increase from $57 million in 2020, according to ThinkAdvisor. The 2021 fine total is the highest since 2016 when FINRA imposed $174 million in fines. However, much of FINRA’s 2021 total constitutes Robinhood’s payment of $57 million in fines and $12.6 million in restitution relating to supervisory failures and investor harm.

 

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FINRA Bars Former UBS Advisor For Failing To Cooperate In Investigation

Posted on March 28th, 2022 at 8:45 AM
FINRA Bars Former UBS Advisor For Failing To Cooperate In Investigation

The Financial Industry Regulatory Authority (FINRA) has barred a former Minnesota-based UBS advisor after he failed to cooperate with FINRA’s probe into allegations that he recommended that a client invest in “risky” outside businesses, according to the settlement letter.

 
 

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