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Tagged with "eccleston"

Brokerages Face Technical Meltdown Amid Market Turmoil

Posted on August 21st, 2024 at 11:42 AM
Brokerages Face Technical Meltdown Amid Market Turmoil

InvestmentNews recently reported that a severe technical glitch disrupted several major online brokerages as investors scrambled to trade amidst a sharp market downturn.

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SEC Scrutiny Intensifies Over Cash Management in Advisory Accounts

Posted on August 20th, 2024 at 11:13 AM
SEC Scrutiny Intensifies Over Cash Management in Advisory Accounts

InvestmentNews reports that recent developments have intensified concerns about how broker-dealers manage cash in investment advisory accounts. Morgan Stanley and Wells Fargo & Co. are currently under scrutiny from the Securities and Exchange Commission (SEC) regarding their handling of client cash balances.

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Raymond James to Pay $50 Million in SEC Settlement Over Off-Channel Communications

Posted on August 19th, 2024 at 10:58 AM
Raymond James to Pay $50 Million in SEC Settlement Over Off-Channel Communications

Raymond James Financial has reached a "settlement in principle" with the Securities and Exchange Commission (SEC) to pay $50 million, resolving an investigation into the firm's off-channel business communications.

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Starwood REIT Limits Shareholder Redemptions Amid Liquidity Challenges

Posted on August 16th, 2024 at 10:18 AM
Starwood REIT Limits Shareholder Redemptions Amid Liquidity Challenges

According to InvestmentNews, Starwood Real Estate Income Trust Inc. (SREIT), has announced a significant reduction in the amount of shares it will repurchase from retail investors, a move aimed at preserving liquidity during challenging market conditions.

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GPB Capital Executives Found Guilty of Securities Fraud

Posted on August 15th, 2024 at 10:29 AM
GPB Capital Executives Found Guilty of Securities Fraud

David Gentile, the founder and CEO of GPB Capital Holdings, and Jeffry Schneider, chief of broker-dealer Ascendant Capital, were found guilty on all fraud counts in a federal trial that concluded in Brooklyn.

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Former Morgan Stanley Advisor Fined and Suspended for Unauthorized Trading

Posted on August 14th, 2024 at 11:25 AM
Former Morgan Stanley Advisor Fined and Suspended for Unauthorized Trading

FINRA has fined a former Morgan Stanley advisor, Craig Sherman Thistlethwaite, $10,000 and suspended him for 60 days for unauthorized trading and other violations.

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DOJ Launches Pilot Whistleblower Program Offering Financial Incentives for Reporting Corporate Misconduct

Posted on August 13th, 2024 at 11:34 AM
DOJ Launches Pilot Whistleblower Program Offering Financial Incentives for Reporting Corporate Misconduct

The Department of Justice (DOJ) has introduced a new pilot program offering financial rewards to whistleblowers who provide original information related to financial crimes, bribery, or healthcare fraud.

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FINRA Fines Former LPL Rep Misappropriating Customer Data

Posted on August 12th, 2024 at 10:58 AM
FINRA Fines Former LPL Rep Misappropriating Customer Data

The Financial Industry Regulatory Authority (FINRA) has fined former LPL Financial representative Nathaniel Adams $5,000 and suspended him for two months. According to ThinkAdvisor, FINRA's order reveals that Adams allegedly misappropriated the personal information of 2,300 customers.

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Ex-Morgan Stanley Advisor Accepts Industry Bar for Failing to Cooperate with FINRA Investigation

Posted on August 9th, 2024 at 10:48 AM
Ex-Morgan Stanley Advisor Accepts Industry Bar for Failing to Cooperate with FINRA Investigation

A former Morgan Stanley advisor, John Scott McCoy Jr., has accepted an industry bar instead of cooperating with a regulatory investigation into his departure from the firm, as detailed in a disciplinary settlement known as an Acceptance, Waiver, and Consent (“AWC”).

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SEC Warns of Increasing Investment Fraud Threats

Posted on August 8th, 2024 at 11:15 AM
SEC Warns of Increasing Investment Fraud Threats

The SEC’s Office of the Investor Advocate recently submitted its objectives report for fiscal year 2025 to Congress, highlighting the growing threat of investment fraud.

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SEC Fines Former LPL Broker $125,000 for Undisclosed Conflicts in Private Securities Offerings

The Securities and Exchange Commission (SEC) has censured a former LPL Financial broker and imposed a $125,000 civil penalty after finding that he failed to disclose conflicts of interest related to private real estate securities offerings that generated nearly $1.5 million in compensation, as reported by AdvisorHub.