Tagged with "eccleston"

Stifel Financial Settles with FINRA Over Advisor Supervision Failures

Posted on April 10th, 2024 at 11:22 AM
Stifel Financial Settles with FINRA Over Advisor Supervision Failures

Stifel Financial has settled with FINRA, agreeing to a censure and a nearly $460,000 payment to resolve allegations of inadequate supervision of two advisors, as detailed in an Acceptance, Waiver, and Consent (“AWC”) finalized recently.

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FINRA Takes Action Against Advisor for Violating Regulation Best Interest

Posted on April 9th, 2024 at 3:46 PM
FINRA Takes Action Against Advisor for Violating Regulation Best Interest

The Financial Industry Regulatory Authority (FINRA) has sanctioned a former advisor at Network 1 Financial Securities for breaching Regulation Best Interest (Reg BI) through excessive trading in a client's account.

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FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Rule Violations

Posted on April 9th, 2024 at 8:57 AM
FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Rule Violations

The Financial Industry Regulatory Authority (FINRA) has imposed a $1.6 million fine on Morgan Stanley for repeated violations of rules established by the Municipal Securities Rulemaking Board (MSRB) concerning the processing and settlement of municipal securities transactions.

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Former Edward Jones Advisor opts for Industry Bar Amid FINRA Investigation

Posted on April 5th, 2024 at 1:27 PM
Former Edward Jones Advisor opts for Industry Bar Amid FINRA Investigation

Reuben L. Brown, a former advisor at Edward D. Jones & Co. in Southlake, Dallas, has chosen an industry bar over cooperating with a Financial Industry Regulatory Authority (FINRA) investigation related to his termination from the firm, according to an Acceptance, Waiver and Consent (“AWC”).

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FINRA Issues Wells Notice to Advisor Austin Dutton

Posted on April 4th, 2024 at 1:14 PM
FINRA Issues Wells Notice to Advisor Austin Dutton

Austin Dutton, a seasoned Philadelphia-area advisor, received a Wells Notice from the Financial Industry Regulatory Authority Inc. (FINRA).

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Former Advisor Awarded $147,000 in Morgan Stanley Dispute Over Congressional Run

Posted on April 3rd, 2024 at 3:18 PM
Former Advisor Awarded $147,000 in Morgan Stanley Dispute Over Congressional Run

In a recent arbitration decision, FINRA ordered Morgan Stanley to pay $147,000 in damages to Deborah Adeimy, a former advisor from Florida.

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FINRA Charges Multiple Firms for Communication Failures

Posted on April 2nd, 2024 at 10:04 AM
FINRA Charges Multiple Firms for Communication Failures

FINRA has penalized several broker-dealers and investment advisors for widespread and longstanding failures to maintain and preserve electronic communications, including WhatsApp messages and texts.

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FINRA Charges Advisor for Illicit Commissions Linked to Unregistered Advisor

Posted on April 1st, 2024 at 9:53 AM
FINRA Charges Advisor for Illicit Commissions Linked to Unregistered Advisor

The Financial Industry Regulatory Authority Inc. (FINRA) has taken action against a California broker, Daniel Beech, allegedly for funneling $900,000 in commissions to an unregistered financial advisor.

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FINRA Sanctions Advisor for Unapproved Fundraising Activities Following Approved OBA

Posted on March 28th, 2024 at 1:07 PM
FINRA Sanctions Advisor for Unapproved Fundraising Activities Following Approved OBA

The Financial Industry Regulatory Authority (FINRA) has levied a $15,000 fine and a 21-month suspension against a former advisor, Jeffrey W. Davidson, based in Austin, Texas. Davidson engaged in fundraising activities that raised over $10 million for a fitness company owned by him and his wife.

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FINRA Sanctions Advisor for Signature Falsifications

Posted on March 27th, 2024 at 2:10 PM
FINRA Sanctions Advisor for Signature Falsifications

A 46-year industry veteran from Braintree, Massachusetts, Timothy W. Leveroni, has settled a disciplinary matter by the Financial Industry Regulatory Authority (FINRA) for falsifying signatures, per a settlement agreement known as an Acceptance Waiver and Consent (“AWC”).

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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

April 24, 2024
RIA Insurance Claims Skyrocket

A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.

April 23, 2024
Surge Predicted in Regulation Best Interest Cases

According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.

April 22, 2024
FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses

The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.