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Tagged with "eccleston"

SEC Charges Nigerian Trio for Impersonating Financial Professionals in $2.9 Million Fraud Scheme

Posted on January 15th, 2025 at 2:29 PM
SEC Charges Nigerian Trio for Impersonating Financial Professionals in $2.9 Million Fraud Scheme

The Securities and Exchange Commission (SEC) has charged three individuals from Nigeria with orchestrating an elaborate online fraud scheme, stealing the identities of licensed financial advisors and investment advisers to defraud retail investors of over $2.9 million.

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Jefferies Financial Group Terminates Employment of Miami Team for Alleged Misconduct

Posted on January 14th, 2025 at 2:36 PM
Jefferies Financial Group Terminates Employment of Miami Team for Alleged Misconduct

According to Form U-5 filings, Jefferies Financial Group recently terminated a group of Miami-based wealth advisors allegedly after uncovering improper money transfers and attempts to conceal the activity through off-channel communications. The firm dismissed Marcelo Poliak, Rodrigo Soto, Guillermo Guerra, Pablo Gherardi, and four other team members over “impermissible money-wire transfers” and “deleted” communications.

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Former Merrill Lynch Executives Launch Indivisible Partners, a New Independent Advisory Firm

Posted on January 13th, 2025 at 3:11 PM
Former Merrill Lynch Executives Launch Indivisible Partners, a New Independent Advisory Firm

John W. Thiel, the former head of Merrill Lynch Wealth Management, has announced plans to launch Indivisible Partners, an independent registered investment advisory (RIA) firm, in early 2025. 

 

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FINRA Arbitration Panel Clears Advisor's Record of Defamatory Allegations

Posted on January 10th, 2025 at 2:14 PM
FINRA Arbitration Panel Clears Advisor's Record of Defamatory Allegations

A FINRA arbitration panel has ruled in favor of Mary J. Howard, a former RBC Wealth Management advisor, allowing her to expunge defamatory allegations from her Form U-5 termination record.

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

Posted on January 9th, 2025 at 2:32 PM
Former Advisor Faces Lawsuit Over 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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Merrill Lynch Agrees to $4.9 Million Settlement in Overtime Pay Dispute

Posted on January 8th, 2025 at 2:03 PM
Merrill Lynch Agrees to $4.9 Million Settlement in Overtime Pay Dispute

Merrill Lynch will pay $4.9 million to resolve a class action lawsuit filed by current and former salaried Financial Solutions Advisors (FSAs) who alleged the firm wrongfully denied them overtime pay. As reported by AdvisorHub, a Florida state judge recently approved the settlement, which will compensate eligible FSAs who worked at the firm over the past three years.

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Former Morgan Stanley Advisor Sanctioned for Undisclosed Hotel Business

Posted on January 7th, 2025 at 4:20 PM
Former Morgan Stanley Advisor Sanctioned for Undisclosed Hotel Business

FINRA has fined Chris S. Stocks, a former Morgan Stanley advisor, $10,000 and suspended him for 30 days for failing to disclose his involvement in a hotel business. 

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JPMorgan Fined $1.8 Million by Singapore Regulator for Misconduct in Bond Transactions

Posted on January 6th, 2025 at 12:11 PM
JPMorgan Fined $1.8 Million by Singapore Regulator for Misconduct in Bond Transactions

The Monetary Authority of Singapore (MAS) fined JPMorgan Chase & Co. $1.8 million for failing to prevent and detect misconduct by its relationship managers during 24 over-the-counter (OTC) bond transactions between November 2018 and September 2019.

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Next Level Holdings and Yield Wealth Under Federal and State Investigation

Posted on January 3rd, 2025 at 12:06 PM
Next Level Holdings and Yield Wealth Under Federal and State Investigation

Federal and state authorities are investigating Next Level Holdings and Yield Wealth, two investment firms accused of offering high-yield financial products now facing significant turmoil, according to the Wall Street Journal

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Goldman Sachs Launches First-of-its-Kind Bond Securitization

Posted on January 2nd, 2025 at 11:40 AM
Goldman Sachs Launches First-of-its-Kind Bond Securitization

Goldman Sachs recently introduced a $475 million asset-backed securitization (ABS) deal backed by capital-call loans, a type of financing Goldman provides to fund managers for immediate capital access.

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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.