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Tagged with "eccleston"

FINRA Orders $8.2 Million in Restitution for Mutual Fund Customers

Posted on March 7th, 2025 at 1:59 PM
FINRA Orders $8.2 Million in Restitution for Mutual Fund Customers

FINRA has directed Edward Jones, Osaic Wealth, Inc., and Cambridge Investment Research, Inc. to pay more than $8.2 million in restitution to customers harmed by failures to provide mutual fund sales charge waivers and fee rebates. 

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FINRA Fines Newbridge Securities $105,000 for Failing to Supervise Margin Trading

Posted on March 6th, 2025 at 11:28 AM
FINRA Fines Newbridge Securities $105,000 for Failing to Supervise Margin Trading

Newbridge Securities Corp., an independent broker-dealer based in Boca Raton, Florida, has agreed to pay a $105,000 penalty for failing to supervise financial advisors who recommended margin trading to clients.

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Morgan Stanley Advisor Wins Expungement Under FINRA's Stricter Rules

Posted on March 5th, 2025 at 1:42 PM
Morgan Stanley Advisor Wins Expungement Under FINRA's Stricter Rules

A FINRA arbitration panel granted a financial advisor’s request to expunge a 2022 customer complaint from her record, marking another test of FINRA’s stricter expungement rules.

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Federal Judge Strikes Down Hightower's Non-Compete Agreement in California

Posted on March 4th, 2025 at 10:51 AM
Federal Judge Strikes Down Hightower's Non-Compete Agreement in California

A federal judge in Wilmington, Delaware, ruled against Hightower Advisors in its effort to enforce non-compete agreements against a former advisor in California who sold his firm to Hightower.

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UBS Warns of Increased Advisor Departures Following Compensation Overhaul

Posted on March 3rd, 2025 at 2:19 PM
UBS Warns of Increased Advisor Departures Following Compensation Overhaul

UBS Group AG executives cautioned that the firm may see a rise in advisor departures this year due to changes in its 2025 compensation plan.

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SEC Sanctions One Oak Capital and Advisor for Improper Conversions to Fee Based Accounts

Posted on February 28th, 2025 at 1:42 PM
SEC Sanctions One Oak Capital and Advisor for Improper Conversions to Fee Based Accounts

The Securities and Exchange Commission (SEC) has penalized a New York-based registered investment adviser and its veteran adviser for converting brokerage accounts into advisory accounts that resulted in significantly higher fees without providing additional services.

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Arbitration Panel Orders Morgan Stanley to Pay $843,000 for Failing to Protect Elderly Client from Fraud

Posted on February 27th, 2025 at 2:35 PM
Arbitration Panel Orders Morgan Stanley to Pay $843,000 for Failing to Protect Elderly Client from Fraud

A FINRA arbitration panel has ordered Morgan Stanley to pay $843,000 in compensatory damages to a senior client residing in Florida for failing to protect her from financial fraud. As reported by ThinkAdvisor, the panel found the firm liable for negligence in a case that highlighted the growing risk of elder financial exploitation.

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Sharp Drop in FINRA Expungement Requests as New Rules Take Effect

Posted on February 26th, 2025 at 11:05 AM
Sharp Drop in FINRA Expungement Requests as New Rules Take Effect

The number of brokers seeking to expunge customer complaints and other disclosures from their public records through FINRA’s arbitration forum has plunged 79 percent over the past year.

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FINRA Highlights Risks of Investing Home Equity Loan Proceeds

Posted on February 25th, 2025 at 11:20 AM
FINRA Highlights Risks of Investing Home Equity Loan Proceeds

FINRA issued a reminder to financial advisors to carefully consider customers’ time horizons and risk tolerance, particularly when recommending investments using funds from a home equity loan, as reported by AdvisorHub. 

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Wells Fargo to Strengthen Financial Crimes Risk Management Amid Regulatory Agreement

Posted on February 24th, 2025 at 11:55 AM
Wells Fargo to Strengthen Financial Crimes Risk Management Amid Regulatory Agreement

Wells Fargo has agreed with U.S. banking regulators to enhance its financial crime risk management practices, including tightening controls over suspicious activity and money laundering.

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

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CFTC Seeks Public Comment on Proposed Crypto Asset Regulatory Framework

The Commodity Futures Trading Commission (CFTC) has issued an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comment on a potential regulatory framework for retail commodity transactions involving crypto assets, which the agency calls "CTXs." According to the CFTC's press release, the initiative focuses on Section 2(c)(2)(D) of th...

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FINRA Bars Former Wedbush Broker Over $3.5 Million in Complex ETP Losses

The Financial Industry Regulatory Authority (FINRA) barred former Wedbush Securities broker William H.

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October 21, 2026
FINRA Fines and Suspends Former LPL Broker Over Undisclosed Customer Settlement

The Financial Industry Regulatory Authority (FINRA) fined former LPL Financial broker Gregory W.