Tagged with "eccleston"

Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

Posted on October 28th, 2024 at 2:26 PM
Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

A FINRA arbitration panel has ordered Wells Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida.

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SEC Fines Thrivent Investment Management for Red BI Violations

Posted on October 25th, 2024 at 1:27 PM
SEC Fines Thrivent Investment Management for Red BI Violations

The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) in its investment recommendations to retail brokerage clients.

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FINRA Suspends Former LPL Advisor for Unapproved Business Activities

Posted on October 24th, 2024 at 11:40 AM
FINRA Suspends Former LPL Advisor for Unapproved Business Activities

FINRA has suspended a former LPL Financial advisor for one month and fined her $5,000 for engaging in unapproved outside business activities related to property management services, according to a settlement agreement known as an AWC (Acceptance, Waiver, and Consent).

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Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

Posted on October 23rd, 2024 at 10:57 AM
Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

A former Merrill Lynch advisor, John Rollin Revelle, has been suspended for 10 months and fined $7,500 by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized activities, including working for a cryptocurrency exchange and issuing misleading asset verification letters.

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NASAA Highlights Common Violations by State-Registered Investment Advisors

Posted on October 22nd, 2024 at 1:43 PM
NASAA Highlights Common Violations by State-Registered Investment Advisors

State securities regulators took significant enforcement actions in 2023, with many cases stemming from breaches of fiduciary duty and failures to register, according to the North American Securities Administrators Association (NASAA).

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SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

Posted on October 21st, 2024 at 11:44 AM
SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

The Securities and Exchange Commission (SEC) continues its strict enforcement of recordkeeping requirements, fining 11 firms a combined $88.2 million for failing to preserve electronic communications.

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SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures

Posted on October 18th, 2024 at 3:20 PM
SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures

The Securities and Exchange Commission (SEC) recently charged Inspire Investing LLC, an Idaho-based investment adviser, with making misleading statements and failing to maintain compliance with its own "biblically responsible investing" strategy.

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Team Breakups Surge Among Financial Advisors Despite Firm Incentives

Posted on October 17th, 2024 at 1:28 PM
Team Breakups Surge Among Financial Advisors Despite Firm Incentives

In recent months, several high-profile departures have highlighted a growing trend: financial advisors are splitting from longtime teams and even family members to pursue opportunities with other firms. 

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FINRA Penalizes Advisor for Falsifying Client Signatures

Posted on October 16th, 2024 at 2:44 PM
FINRA Penalizes Advisor for Falsifying Client Signatures

FINRA has imposed a $7,500 fine and a one-year suspension on Richard Dean Connally.

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SEC Charges First Horizon Advisors for Regulation Best Interest Violations

Posted on October 15th, 2024 at 4:09 PM
SEC Charges First Horizon Advisors for Regulation Best Interest Violations

The Securities and Exchange Commission (SEC) has charged First Horizon Advisors, LLC, a registered broker-dealer, with violating Regulation Best Interest (Reg BI).

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If you are being bothered by the Regulators, call Eccleston Law, you won't regret it.

Rick R.

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.