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Tagged with "eccleston"

FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

Posted on November 15th, 2024 at 2:20 PM
FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims. 

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SIFMA Challenges CFP Board

Posted on November 14th, 2024 at 10:46 AM
SIFMA Challenges CFP Board

According to InvestmentNews, the Securities Industry and Financial Markets Association (SIFMA) released a whitepaper criticizing the Certified Financial Planner (CFP) Board’s standards enforcement, asserting it operates as a “de facto, private
regulator.” 

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FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

Posted on November 13th, 2024 at 10:23 AM
FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance violations involving his relationship with an elderly client.

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Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

Posted on November 12th, 2024 at 2:25 PM
Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

A Kentucky-based financial advisor accepted a $5,000 fine and a two-month suspension for operating a bourbon-tasting business without notifying his employer, Edward Jones, as required by FINRA rules.

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Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

Posted on November 11th, 2024 at 2:45 PM
Charles Schwab Faces Multiple Lawsuits Alleging Elder Fraud Neglect

Charles Schwab and its affiliates are under scrutiny after recent lawsuits allege the firm failed to prevent scammers from defrauding elderly clients.

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

Posted on November 8th, 2024 at 11:50 AM
Former Advisor Faces Lawsuit Over Alleged 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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Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

Posted on November 7th, 2024 at 3:26 PM
Fidelity Data Breach Exposes Sensitive Information of Over 77,000 Customers

According to InvestmentNews, Fidelity Investments recently disclosed a data breach affecting tens of thousands of customers, exposing sensitive personal data such as Social Security numbers and driver’s license information.

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SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

Posted on November 6th, 2024 at 1:33 PM
SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.

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LPL Financial Prepares for AML-Related SEC Settlement

Posted on November 5th, 2024 at 11:57 AM
LPL Financial Prepares for AML-Related SEC Settlement

LPL Financial has set aside $18 million in anticipation of settling an ongoing Securities and Exchange Commission (SEC) investigation into its anti-money laundering (AML) compliance program.

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Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

Posted on November 4th, 2024 at 11:57 AM
Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

Pershing has been fined $1.4 million by FINRA for disseminating account documents with inaccurate interest rate information.

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LATEST NEWS AND ARTICLES

1789490284 Law
September 15, 2026
FINRA Suspends Former Northwestern Mutual Broker Over Customer Loans

The Financial industry Regulatory Authority (FINRA) has suspended and fined a former Northwestern Mutual broker after he solicited two customers for loans to purchase another representative's book of business but instead used most of the money to pay personal expenses and other debt, according to an Acceptance, Waiver, and Consent (AWC) letter.<...

1789403905 Law
September 14, 2026
SEC Considers Expanding Retail Access to Private Markets

The Securities and Exchange Commission (SEC) is considering a proposal that could expand retail investors' access to private markets and allow investment advisers to charge performance fees to a broader group of clients.

1789155492 Law
September 11, 2026
SEC Considers Investor Test to Expand Accredited Investor Eligibility

The Securities and Exchange (SEC) Chairman Paul S.