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Tagged with "eccleston"

FINRA Criticized Over Alleged Rigging Of Arbitration Matters Involving Wells Fargo

Posted on February 21st, 2022 at 12:09 PM
FINRA Criticized Over Alleged Rigging Of Arbitration Matters Involving Wells Fargo

Senate and House lawmakers have criticized the Financial Industry Regulatory Authority (FINRA) Dispute Resolution over the fairness of its arbitration system after a judge recently determined that a FINRA arbitration panel was biased against an investor claimant in 2019.

 
 
 

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FINRA Suspends Former Raymond James Advisor Over UIT Sales

Posted on February 18th, 2022 at 1:03 PM
FINRA Suspends Former Raymond James Advisor Over UIT Sales

The Financial Industry Regulatory Authority (FINRA) has suspended a former Raymond James advisor for three months and imposed a $5,000 fine over unsuitable sales of Unit Investment Trusts (UITs).

 
 

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SEC Releases Statement On Private Fund Advisors Proposal

Posted on February 17th, 2022 at 12:10 PM
SEC Releases Statement On Private Fund Advisors Proposal

The Securities and Exchange Commission (SEC) is proposing to amend the Investment Advisors Act to improve the efficiency, competition, and transparency of the activities of private funds’ advisors, according to SEC chairman Gary Gensler.

 
 

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DocuSign Use Dooms “Swath” of LPL Brokers

Posted on February 17th, 2022 at 10:04 AM
DocuSign Use Dooms “Swath” of LPL Brokers

LPL Financial, the largest independent broker-dealer by its sales force of close to 20,000, is terminating “a swath of brokers” over allegations related to their use of electronic signature software DocuSign, according to a lawyer and a recruiter working with affected brokers.

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SEC Obtains Final Judgement Against Indianapolis-Based Advisor Over Allegations Of Fraud

Posted on February 16th, 2022 at 12:04 PM
SEC Obtains Final Judgement Against Indianapolis-Based Advisor Over Allegations Of Fraud

The U.S. District Court for the Southern District of Indiana has entered a final consent judgment against an Indianapolis-based advisor, George Blankenbaker, and three of his entities who previously were charged with defrauding at least 100 investors out of at least $8 million.

 
 
 
 

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Smoothie-Throwing Advisor Suspended By CFP Board

Posted on February 15th, 2022 at 1:21 PM
Smoothie-Throwing Advisor Suspended By CFP Board

A former Merrill Lynch advisor has been suspended by the CFP Board after he was arrested for threatening employees and using racial slurs at a smoothie shop in Connecticut.

 
 
 
 

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FINRA Bars Former Morgan Stanley Advisor Facing Millions in Claims from Pro Athletes

Posted on February 14th, 2022 at 12:00 PM
FINRA Bars Former Morgan Stanley Advisor Facing Millions in Claims from Pro Athletes

A former Morgan Stanley advisor has been barred by the Financial Industry Regulatory Authority (FINRA) after receiving numerous complaints from his former professional athlete clients, including former basketball star Chandler Parsons.

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Former LPL Advisor Charged With Fraud Faces 37-Year Prison Sentence

Posted on February 11th, 2022 at 1:24 PM
Former LPL Advisor Charged With Fraud Faces 37-Year Prison Sentence

An ex-LPL Financial advisor has been indicted for allegedly defrauding at least 15 former clients after the Financial Industry Regulatory Authority (FINRA) barred him from the industry. 

 
 
 

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J.P. Morgan Settles With Cresset Over ‘Raid’ Of Private Bankers

Posted on February 10th, 2022 at 2:20 PM
J.P. Morgan Settles With Cresset Over ‘Raid’ Of Private Bankers

J.P. Morgan settled a lawsuit with Chicago-based advisory firm Cresset Asset Management pertaining to its alleged raid of at least 10 J.P. Morgan private bankers.

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SEC to Advocate For More Transparent Fee Disclosures from Private Equity Firms

Posted on February 9th, 2022 at 1:09 PM

 

The Securities and Exchange Commission (SEC) plans to consider and potentially implement rules requiring more expansive disclosures surrounding fees imposed by private equity firms.

 
 
 

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If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

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FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.