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Tagged with "eccleston"

Vanguard Settles SEC Allegations Over Misleading Statements on Tax Implications

Posted on February 20th, 2025 at 4:31 PM
Vanguard Settles SEC Allegations Over Misleading Statements on Tax Implications

Vanguard Group has agreed to pay over $106 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that it misled retail investors regarding capital gains distributions and tax liabilities associated with its popular target-date retirement funds.

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Former Rubicon Wealth Management President Pleads Guilty to Fraud Charges

Posted on February 20th, 2025 at 4:30 PM
Former Rubicon Wealth Management President Pleads Guilty to Fraud Charges

Scott Mason, former president of Rubicon Wealth Management, pleaded guilty to multiple fraud charges after federal prosecutors accused him of misappropriating over $17 million from clients, including his own widowed aunt.

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FINRA Highlights Compliance Priorities for 2025

Posted on February 19th, 2025 at 4:28 PM
FINRA Highlights Compliance Priorities for 2025

The Financial Industry Regulatory Authority (FINRA) has released its annual regulatory oversight report, emphasizing key compliance concerns for broker-dealers.

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Regulatory Spotlight on AI in Financial Advising: Risks, Opportunities, and Compliance Needs

Posted on February 18th, 2025 at 10:21 AM
Regulatory Spotlight on AI in Financial Advising: Risks, Opportunities, and Compliance Needs

Artificial intelligence (AI) tools, including large language models (LLMs), present both promising opportunities and notable risks for financial advisors. According to Financial Planning, as the popularity of AI grows in the financial advisory sector, regulators like FINRA and the SEC are examining potential issues closely.

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Jefferies Financial Group Dismisses Miami Advisory Team Amid Alleged Misconduct

Posted on February 14th, 2025 at 4:26 PM
Jefferies Financial Group Dismisses Miami Advisory Team Amid Alleged Misconduct

Jefferies Financial Group recently terminated a team of Miami-based wealth advisors following allegations of improper money transfers and the use of unauthorized communication methods to conceal the activity.

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FINRA Panel Denies J.P. Morgan's $39.7 Million Claim Against Former Advisor

Posted on February 13th, 2025 at 2:01 PM
FINRA Panel Denies J.P. Morgan's $39.7 Million Claim Against Former Advisor

A FINRA arbitration panel recently rejected J.P. Morgan Securities’ bid to recover $39.7 million in damages from Edward Turley, a former financial advisor whose alleged
misconduct led the firm to incur significant settlement costs.

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Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

Posted on February 12th, 2025 at 11:16 AM
Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

FINRA has barred Gwendolyn J. Hayes, a former Edward Jones advisor in Oregon after allegations surfaced that she altered client account information without authorization.

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UnitedHealth Group Agrees to $69 Million Settlement in ERISA Class Action Lawsuit

Posted on February 11th, 2025 at 2:07 PM
UnitedHealth Group Agrees to $69 Million Settlement in ERISA Class Action Lawsuit

UnitedHealth Group has agreed to pay $69 million to resolve a class action lawsuit alleging violations of its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA).

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Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

Posted on February 10th, 2025 at 1:48 PM
Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

FINRA has fined Anthony J. Seifert, a former Merrill Lynch advisor based in Mount Pleasant, South Carolina, $5,000 and suspended him for 20 days.

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Court Finds American Airlines Breached Fiduciary Duty in 401(k) ESG Case

Posted on February 7th, 2025 at 10:02 AM
Court Finds American Airlines Breached Fiduciary Duty in 401(k) ESG Case

A federal court ruling against American Airlines has brought attention to the role of environmental, social, and governance (ESG) factors in managing retirement plans.

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LATEST NEWS AND ARTICLES

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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.