Tagged with "eccleston"

Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

Posted on February 10th, 2025 at 1:48 PM
Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

FINRA has fined Anthony J. Seifert, a former Merrill Lynch advisor based in Mount Pleasant, South Carolina, $5,000 and suspended him for 20 days.

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Court Finds American Airlines Breached Fiduciary Duty in 401(k) ESG Case

Posted on February 7th, 2025 at 10:02 AM
Court Finds American Airlines Breached Fiduciary Duty in 401(k) ESG Case

A federal court ruling against American Airlines has brought attention to the role of environmental, social, and governance (ESG) factors in managing retirement plans.

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SEC Charges LPL Financial with Anti-Money Laundering Failures

Posted on February 7th, 2025 at 9:21 AM
SEC Charges LPL Financial with Anti-Money Laundering Failures

The Securities and Exchange Commission (SEC) has charged LPL Financial LLC, a broker-dealer and investment adviser, with multiple violations of anti-money laundering (AML) regulations.

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Vanguard Settles SEC Charges Over Target Date Fund Disclosures for $106 Million

Posted on February 6th, 2025 at 4:10 PM
Vanguard Settles SEC Charges Over Target Date Fund Disclosures for $106 Million

Vanguard has agreed to pay $106.41 million to settle charges by the Securities and Exchange Commission (SEC) over alleged disclosure failures related to its target date retirement funds (TDFs).

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SEC Forms Cryptocurrency Task Force to Develop Clear Regulatory Framework

Posted on February 5th, 2025 at 12:02 PM
SEC Forms Cryptocurrency Task Force to Develop Clear Regulatory Framework

According to ThinkAdvisor, the U.S. Securities and Exchange Commission (SEC) has announced the creation of a cryptocurrency-focused task force to establish a "comprehensive and clear" regulatory framework for digital assets.

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Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation

Posted on February 4th, 2025 at 4:37 PM
Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation

A FINRA arbitration panel has ordered Wells Fargo Clearing Services and its advisor, Stephen L. Smith, to pay approximately $3.37 million in damages to the estate of Genell Mathis.

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Bank of America Agrees to Consent Order Over Anti-Money-Laundering Deficiencies

Posted on February 3rd, 2025 at 3:50 PM
Bank of America Agrees to Consent Order Over Anti-Money-Laundering Deficiencies

Bank of America Corp. has entered into a consent order with the Office of the Comptroller of the Currency (OCC) to address deficiencies in its anti-money-laundering (AML) and sanctions compliance programs.

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UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades

Posted on January 31st, 2025 at 2:21 PM
UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades

According to AdvisorHub, UBS Wealth Management USA’s broker-dealer has agreed to pay $3.5 million in sanctions over allegations of supervisory failures related to short-term trading of syndicate preferred stock.

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Wells Fargo Loses Bid for TRO Against Fired Illinois Broker

Posted on January 31st, 2025 at 10:16 AM
Wells Fargo Loses Bid for TRO Against Fired Illinois Broker

A federal judge has denied Wells Fargo Advisor’s request for a temporary restraining order against a Schaumburg, Illinois-based broker it fired in November, according to a court filing on Wednesday.

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Two Sigma Settles SEC Charges for Investment Model Failures and Whistleblower Rule Violations

Posted on January 30th, 2025 at 4:18 PM
Two Sigma Settles SEC Charges for Investment Model Failures and Whistleblower Rule Violations

According to SEC.gov, the Securities and Exchange Commission (SEC) recently announced that Two Sigma Investments LP and Two Sigma Advisers LP (collectively, Two Sigma) agreed to settle charges of breaching fiduciary duties, compliance failures, and violations of the SEC’s whistleblower protection rule.

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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.