FINRA Rule 8210[1], the Provision of Information and Testimony and Inspection and Copying of Books is an investigative tool FINRA uses to investigate potential violations of securities rules and regulations.
Tagged with "eccleston"
The Trappings of the 8210 Inquiry and Mistakes Advisors Make
Posted on January 28th, 2020 at 1:55 PM
SEC Charges Two More for Alleged Involvement in California Ponzi Scheme
Posted on January 24th, 2020 at 4:47 PM
Jeffrey and Paulette Carpoff are being accused by the Securities and Exchange Commission (SEC) of running a nearly one billion dollar Ponzi scheme.
Wells Fargo ‘fabricated’ investigation into advisors, arbitration panel says
Posted on January 22nd, 2020 at 4:34 PM
Three former Wells Fargo advisors’ termination records must be expunged after the firm “fabricated investigatory findings” and ousted them, an arbitration panel ruled this month.
Former Wells Fargo Advisors Team Wins Sweeping Expungement of Their Forms U-5
Posted on January 22nd, 2020 at 4:09 PM
On January 15th, a FINRA arbitration panel in Indianapolis recommended expungement of Forms U-5, finding that Wells Fargo Advisors Financial Network (“Wells Fargo”) had disaffiliated with a team of financial advisors “as a result of fabricated investigatory findings.”
Royal Alliance Agrees to Pay $400,000 for Failing to Catch Brokers Who Stole Millions
Posted on January 22nd, 2020 at 2:23 PM
Independent broker-dealer Royal Alliance Associates ("Royal Alliance") has agreed to pay $400,000 for failing to catch two former brokers who stole more than $3.8 million from customers.
Prudential Pays $1 Million for Wrong Information on Fees in Retirement Plans
Posted on January 21st, 2020 at 3:01 PM
The Financial Industry Regulatory Authority (“FINRA”) has fined Prudential $1 million for retirement plan investment-related violations.
SEC Accuses Investment Company And Its Founders Of $6 Million Investment Scam
Posted on January 14th, 2020 at 1:44 PM
Two men and their unregistered investment company lied in their sales pitches and invested funds of seniors in a $6 million scam.
FINRA Panel Denies Former Advisor Opportunity to Defend Himself
Posted on January 13th, 2020 at 2:29 PM
A Financial Industry Regulatory Authority Inc. ("FINRA") arbitration panel recently concluded an arbitration case involving a former Raymond James advisor with a promissory note balance. The case is unique because the arbitrators denied the rep an opportunity to present testimony, witnesses or evidence, as a sanction for failing to file his answer in a timely manner.
Arbitrators deny ex-advisor chance to defend himself in Raymond James case
Posted on January 10th, 2020 at 9:08 AM
They say everyone gets their day in court — except maybe Gregory Clark, a former Raymond James advisor whose FINRA arbitration case ended without his testimony, witnesses or evidence.
Illinois Jury Convicts Father and Son In $1.3 Million Investment Scheme
Posted on January 9th, 2020 at 2:51 PM
An Illinois federal jury recently convicted a father on 24 criminal counts and his son on 13 criminal counts. The defendants allegedly convinced family members and two church congregations to invest in what was a $1.3 million Ponzi scheme involving apartments in distress.