Tagged with "eccleston"

Wells Fargo to Strengthen Financial Crimes Risk Management Amid Regulatory Agreement

Posted on February 24th, 2025 at 11:55 AM
Wells Fargo to Strengthen Financial Crimes Risk Management Amid Regulatory Agreement

Wells Fargo has agreed with U.S. banking regulators to enhance its financial crime risk management practices, including tightening controls over suspicious activity and money laundering.

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Financial Advisor Accepts Suspension and Fine for Misrepresenting Continuing Education Compliance

Posted on February 21st, 2025 at 1:28 PM
Financial Advisor Accepts Suspension and Fine for Misrepresenting Continuing Education Compliance

A financial advisor affiliated with Equity Services Inc. (ESI) has agreed to a one-month suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) found that someone else completed his required continuing education (CE) for a state insurance license renewal.

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Vanguard Settles SEC Allegations Over Misleading Statements on Tax Implications

Posted on February 20th, 2025 at 4:31 PM
Vanguard Settles SEC Allegations Over Misleading Statements on Tax Implications

Vanguard Group has agreed to pay over $106 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that it misled retail investors regarding capital gains distributions and tax liabilities associated with its popular target-date retirement funds.

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Former Rubicon Wealth Management President Pleads Guilty to Fraud Charges

Posted on February 20th, 2025 at 4:30 PM
Former Rubicon Wealth Management President Pleads Guilty to Fraud Charges

Scott Mason, former president of Rubicon Wealth Management, pleaded guilty to multiple fraud charges after federal prosecutors accused him of misappropriating over $17 million from clients, including his own widowed aunt.

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FINRA Highlights Compliance Priorities for 2025

Posted on February 19th, 2025 at 4:28 PM
FINRA Highlights Compliance Priorities for 2025

The Financial Industry Regulatory Authority (FINRA) has released its annual regulatory oversight report, emphasizing key compliance concerns for broker-dealers.

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Regulatory Spotlight on AI in Financial Advising: Risks, Opportunities, and Compliance Needs

Posted on February 18th, 2025 at 10:21 AM
Regulatory Spotlight on AI in Financial Advising: Risks, Opportunities, and Compliance Needs

Artificial intelligence (AI) tools, including large language models (LLMs), present both promising opportunities and notable risks for financial advisors. According to Financial Planning, as the popularity of AI grows in the financial advisory sector, regulators like FINRA and the SEC are examining potential issues closely.

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Jefferies Financial Group Dismisses Miami Advisory Team Amid Alleged Misconduct

Posted on February 14th, 2025 at 4:26 PM
Jefferies Financial Group Dismisses Miami Advisory Team Amid Alleged Misconduct

Jefferies Financial Group recently terminated a team of Miami-based wealth advisors following allegations of improper money transfers and the use of unauthorized communication methods to conceal the activity.

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FINRA Panel Denies J.P. Morgan's $39.7 Million Claim Against Former Advisor

Posted on February 13th, 2025 at 2:01 PM
FINRA Panel Denies J.P. Morgan's $39.7 Million Claim Against Former Advisor

A FINRA arbitration panel recently rejected J.P. Morgan Securities’ bid to recover $39.7 million in damages from Edward Turley, a former financial advisor whose alleged
misconduct led the firm to incur significant settlement costs.

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Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

Posted on February 12th, 2025 at 11:16 AM
Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

FINRA has barred Gwendolyn J. Hayes, a former Edward Jones advisor in Oregon after allegations surfaced that she altered client account information without authorization.

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UnitedHealth Group Agrees to $69 Million Settlement in ERISA Class Action Lawsuit

Posted on February 11th, 2025 at 2:07 PM
UnitedHealth Group Agrees to $69 Million Settlement in ERISA Class Action Lawsuit

UnitedHealth Group has agreed to pay $69 million to resolve a class action lawsuit alleging violations of its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA).

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TESTIMONIALS

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As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

September 18, 2025
Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.