Tagged with "eccleston"

FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

Posted on May 1st, 2025 at 12:49 PM
FINRA Fines Sanctuary Wealth $150,000 for AML Program Deficiencies

FINRA has fined and censured independent broker-dealer Sanctuary Wealth Management $150,000 for failing to establish an adequate anti-money laundering (AML) program to detect and report suspicious transactions.

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Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Posted on April 30th, 2025 at 11:37 AM
Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.

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Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

Posted on April 29th, 2025 at 11:36 AM
Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructed by management, according to his Central Registration Depository (CRD) record.

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Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

Posted on April 28th, 2025 at 4:00 PM
Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, and Consent letter (“AWC”).

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Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

Posted on April 25th, 2025 at 2:18 PM
Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

The Securities and Exchange Commission (SEC) has finalized a cease-and-desist proceeding against Rosedale, a former SEC-registered investment adviser, for violations of the Investment Advisers Act of 1940.

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SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

Posted on April 24th, 2025 at 2:14 PM
SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.

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FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

Posted on April 22nd, 2025 at 12:07 PM
FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedings for parties who are elderly or suffering from serious health conditions.

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Robinhood Markets Faces Scrutiny in Massachusetts Investigation

Posted on April 18th, 2025 at 2:03 PM
Robinhood Markets Faces Scrutiny in Massachusetts Investigation

Massachusetts Secretary of State Bill Galvin has issued a subpoena to Robinhood Markets Inc., seeking information on the firm’s prediction-markets business and its potential links to gambling.

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SEC Charges Hedge Fund Founder with Fraud in $4 Million Scheme

Posted on April 17th, 2025 at 1:59 PM
SEC Charges Hedge Fund Founder with Fraud in $4 Million Scheme

The Securities and Exchange Commission (SEC) has charged Alan Burak, founder of Never Alone Capital LLC, with orchestrating a fraudulent investment scheme that raised approximately $4 million from investors.

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GWG Bondholders Offered Settlement Worth Just Cents on the Dollar

Posted on April 16th, 2025 at 11:44 AM
GWG Bondholders Offered Settlement Worth Just Cents on the Dollar

Distressed investors who purchased $1.6 billion in GWG L bonds may soon receive a small fraction of their original investment under a proposed settlement.

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TESTIMONIALS

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I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

July 1, 2025
State Regulators Fine Five Major Broker-Dealers Nearly $10 Million for Excessive Commission Charges

A coalition of state securities regulators has ordered five broker-dealers — including Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade — to pay almost $9.9 million in penalties for overcharging customers on small-value trades.

June 30, 2025
SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches

The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through deceptive fee disclosures and undisclosed conflicts of interest.

 

June 27, 2025
FINRA Sanctions Advisor for Accepting $1 Million Inheritance from Client Without Firm Approval

FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm approval.