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Tagged with "eccleston"

FINRA Suspends Former TD Securities Representative for Improper Expense Charges

Posted on May 5th, 2025 at 12:12 PM
FINRA Suspends Former TD Securities Representative for Improper Expense Charges

FINRA has suspended former TD Securities representative Kate Yumi Lam for 12 months and fined her $10,000 for improperly charging personal commuting and meal expenses to the firm's account.

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Former Edward Jones Broker Indicted for Defrauding Elderly Widow

Posted on May 2nd, 2025 at 3:00 PM
Former Edward Jones Broker Indicted for Defrauding Elderly Widow

Federal prosecutors have indicted a former Edward Jones financial advisor on charges of wire fraud, mail fraud, money laundering, and tax violations after he allegedly stole more than $920,000 from a 77-year-old widowed client.

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FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

Posted on May 1st, 2025 at 12:49 PM
FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

FINRA has fined and censured independent broker-dealer Sanctuary Wealth Management $150,000 for failing to establish an adequate anti-money laundering (AML) program to detect and report suspicious transactions.

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Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Posted on April 30th, 2025 at 11:37 AM
Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.

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Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

Posted on April 29th, 2025 at 11:36 AM
Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructed by management, according to his Central Registration Depository (CRD) record.

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Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

Posted on April 28th, 2025 at 4:00 PM
Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, and Consent letter (“AWC”).

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Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

Posted on April 25th, 2025 at 2:18 PM
Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

The Securities and Exchange Commission (SEC) has finalized a cease-and-desist proceeding against Rosedale, a former SEC-registered investment adviser, for violations of the Investment Advisers Act of 1940.

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SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

Posted on April 24th, 2025 at 2:14 PM
SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.

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FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

Posted on April 22nd, 2025 at 12:07 PM
FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedings for parties who are elderly or suffering from serious health conditions.

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Robinhood Markets Faces Scrutiny in Massachusetts Investigation

Posted on April 18th, 2025 at 2:03 PM
Robinhood Markets Faces Scrutiny in Massachusetts Investigation

Massachusetts Secretary of State Bill Galvin has issued a subpoena to Robinhood Markets Inc., seeking information on the firm’s prediction-markets business and its potential links to gambling.

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May 27, 2026
FINRA Sanctions Cambridge Investment Research for Supervisory Failure in Variable Annuity Exchanges

The Financial Industry Regulatory Authority (FINRA) has censured Cambridge Investment Research and ordered the firm to pay nearly $280,000 after finding that it failed to properly supervise variable annuity exchanges, according to AdvisorHub.

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May 22, 2026
Blue Owl Caps Redemptions as Investors Seek Billions in Withdrawals from Private Credit Funds

Blue Owl Capital faced a sharp rise in redemption requests during the first quarter as investors attempted to withdraw approximately $5.4 billion from two of the firm's largest private credit funds, according to reporting by the Wall Street Journal.

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May 21, 2026
Edward Jones Faces Federal Privacy Lawsuits Over Alleged Data Sharing With Tech Companies

Edward Jones is facing multiple lawsuits alleging that the firm improperly shared clients' personal and financial information with third-party technology companies for targeted advertising purposes, according to reporting by Financial Planning.