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Tagged with "eccleston"

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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Former Advisor Barred by FINRA for Failing to Respond to Investigation

Posted on November 1st, 2024 at 8:51 AM
Former Advisor Barred by FINRA for Failing to Respond to Investigation

FINRA has permanently barred financial advisor Michael Charles Grande from working with any registered investment or advisory firms after he failed to cooperate with an investigation into his mutual fund recommendations. 

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FINRA Fines Osaic Wealth and Securities America for Cybersecurity Failures

Posted on October 30th, 2024 at 11:01 AM
FINRA Fines Osaic Wealth and Securities America for Cybersecurity Failures

The Financial Industry Regulatory Authority (FINRA) has fined and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity lapses that exposed the private information of over 32,000 customers.

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Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

Posted on October 29th, 2024 at 10:42 AM
Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

A Massachusetts court has granted Glenn Frank, a 69-year-old advisor suing Hightower for age discrimination, a preliminary victory by temporarily blocking Hightower from enforcing its non-solicitation covenants against him.

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Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

Posted on October 28th, 2024 at 2:26 PM
Wells Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

A FINRA arbitration panel has ordered Wells Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida.

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SEC Fines Thrivent Investment Management for Red BI Violations

Posted on October 25th, 2024 at 1:27 PM
SEC Fines Thrivent Investment Management for Red BI Violations

The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) in its investment recommendations to retail brokerage clients.

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FINRA Suspends Former LPL Advisor for Unapproved Business Activities

Posted on October 24th, 2024 at 11:40 AM
FINRA Suspends Former LPL Advisor for Unapproved Business Activities

FINRA has suspended a former LPL Financial advisor for one month and fined her $5,000 for engaging in unapproved outside business activities related to property management services, according to a settlement agreement known as an AWC (Acceptance, Waiver, and Consent).

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I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

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