Tagged with "eccleston"

Former Advisor Sentenced to Over Eight Years for $17 Million Fraud Scheme

Posted on July 22nd, 2025 at 11:42 AM
Former Advisor Sentenced to Over Eight Years for $17 Million Fraud Scheme

A former financial advisor from Pennsylvania has been sentenced to more than eight years in federal prison for defrauding clients out of over $17 million, including his own widowed aunt.

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Federal Judge Approves $91.3 Million in GWG Holdings Bankruptcy Settlements

Posted on July 21st, 2025 at 9:22 AM
Federal Judge Approves $91.3 Million in GWG Holdings Bankruptcy Settlements

A federal bankruptcy judge in Houston has approved $91.3 million in settlements from several professional firms, company founders, and former executives tied to the collapse of GWG Holdings Inc.

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Former LPL Advisor Suspended for Beneficiary Designation Violations

Posted on July 17th, 2025 at 1:46 PM
Former LPL Advisor Suspended for Beneficiary Designation Violations

A former LPL Financial advisor has agreed to an eight-month suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) found he improperly named his immediate family members as beneficiaries on a client’s accounts without firm approval.

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Former CFA Institute Executive Charged in $5 Million Embezzlement Scheme

Posted on July 16th, 2025 at 11:05 AM
Former CFA Institute Executive Charged in $5 Million Embezzlement Scheme

Michael J. Collins, the former chief marketing officer of the CFA Institute, has been accused of embezzling nearly $5 million from the financial education organization through a long-running fraud scheme designed to fund a lavish personal lifestyle.

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Former Advisor Sues Prime Capital Again Over Unpaid Equity Redemption

Posted on July 15th, 2025 at 2:07 PM
Former Advisor Sues Prime Capital Again Over Unpaid Equity Redemption

A former San Diego-based advisor has filed a second lawsuit against Prime Capital Financial, alleging breach of contract after the firm failed to honor agreed-upon terms related to his equity buyout.

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Wisconsin Man Charged in $15.8 Million Ponzi Scheme Disguised as Investment Advisory Business

Posted on July 14th, 2025 at 11:40 AM
Wisconsin Man Charged in $15.8 Million Ponzi Scheme Disguised as Investment Advisory Business

Federal authorities have charged a Wisconsin man with orchestrating a multimillion-dollar Ponzi scheme that defrauded more than 120 investors over six years.

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FINRA Advances Proposal to Allow Limited Use of Performance Projections

Posted on July 11th, 2025 at 2:17 PM
FINRA Advances Proposal to Allow Limited Use of Performance Projections

The Financial Industry Regulatory Authority (“FINRA”) is moving forward with a proposal that would give broker-dealers limited ability to market performance projections and targeted returns under specific conditions.

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SEC Permanently Bars Brite Advisors USA Over Custody Rule Violations and Undisclosed Conflicts

Posted on July 10th, 2025 at 2:08 PM
SEC Permanently Bars Brite Advisors USA Over Custody Rule Violations and Undisclosed Conflicts

The SEC has permanently barred Brite Advisors USA from operating as an investment adviser, citing serious custody rule violations and undisclosed conflicts of interest tied to its offshore affiliate, as reported by Financial Advisor News.

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UBS Confirms Data Breach After Cyberattack on External Vendor

Posted on July 9th, 2025 at 2:43 PM
UBS Confirms Data Breach After Cyberattack on External Vendor

UBS Group AG has confirmed that a cyberattack on one of its third-party suppliers resulted in stolen company information, though no client data was compromised.

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Veteran Advisors Challenge Focus Financial Overbroad Non-Competes in Federal Court

Posted on July 8th, 2025 at 3:48 PM
Veteran Advisors Challenge Focus Financial Overbroad Non-Competes in Federal Court

Two former advisors from Edge Capital Group have filed a federal lawsuit challenging what they describe as excessively restrictive employment agreements following their departure amid a major merger.

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LATEST NEWS AND ARTICLES

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.

September 16, 2025
Former Morgan Stanley Advisors Win Partial Court Victory in Client Solicitation Dispute

Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.

September 15, 2025
California Young-Gun Investor Charged in Alleged $6 Million Ponzi Scheme

Federal prosecutors have accused Mihir Deepak Sukthankar, a California resident once celebrated as a teenage trading “prodigy,” of orchestrating a multi-million-dollar Ponzi scheme.