Tagged with "eccleston"

Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

Posted on November 12th, 2024 at 2:25 PM
Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

A Kentucky-based financial advisor accepted a $5,000 fine and a two-month suspension for operating a bourbon-tasting business without notifying his employer, Edward Jones, as required by FINRA rules.

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Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

Posted on November 11th, 2024 at 2:45 PM
Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

Charles Schwab and its affiliates are under scrutiny after recent lawsuits allege the firm failed to prevent scammers from defrauding elderly clients.

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Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

Posted on November 8th, 2024 at 11:50 AM
Former Advisor Faces Lawsuit Over Alleged Mishandling of Premium-Financed Life Insurance Plan

Joshua L. Gottlieb, barred by FINRA in 2017, faces a lawsuit alleging significant financial harm to a client following the sale of a premium-financed indexed universal life (IUL) insurance program. 

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Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

Posted on November 7th, 2024 at 3:26 PM
Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal data such as Social Security numbers and driver’s license information.

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SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

Posted on November 6th, 2024 at 1:33 PM
SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.

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LPL Financial Prepares for AML-Related SEC Settlement

Posted on November 5th, 2024 at 11:57 AM
LPL Financial Prepares for AML-Related SEC Settlement

LPL Financial has set aside $18 million in anticipation of settling an ongoing Securities and Exchange Commission (SEC) investigation into its anti-money laundering (AML) compliance program.

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Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

Posted on November 4th, 2024 at 11:57 AM
Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

Pershing has been fined $1.4 million by FINRA for disseminating account documents with inaccurate interest rate information.

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Former Advisor Barred by FINRA for Failing to Respond to Investigation

Posted on November 1st, 2024 at 8:51 AM
Former Advisor Barred by FINRA for Failing to Respond to Investigation

FINRA has permanently barred financial advisor Michael Charles Grande from working with any registered investment or advisory firms after he failed to cooperate with an investigation into his mutual fund recommendations. 

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FINRA Fines Osaic Wealth and Securities America for Cybersecurity Failures

Posted on October 30th, 2024 at 11:01 AM
FINRA Fines Osaic Wealth and Securities America for Cybersecurity Failures

The Financial Industry Regulatory Authority (FINRA) has fined and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity lapses that exposed the private information of over 32,000 customers.

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Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

Posted on October 29th, 2024 at 10:42 AM
Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

A Massachusetts court has granted Glenn Frank, a 69-year-old advisor suing Hightower for age discrimination, a preliminary victory by temporarily blocking Hightower from enforcing its non-solicitation covenants against him.

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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.