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Tagged with "eccleston"

FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account

Posted on August 28th, 2024 at 10:25 AM
FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account

As reported by AdvisorHub, the Financial Industry Regulatory Authority (FINRA) has fined a former UBS advisor Luis E. Nin $5,000 and suspended him for one month after he placed unauthorized trades in a deceased client’s account.

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FINRA Bars Former Merrill Lynch Advisor

Posted on August 26th, 2024 at 10:39 AM
FINRA Bars Former Merrill Lynch Advisor

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 customer.

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Q2 2024 Securities Filings and Settlements: Key Insights

Posted on August 23rd, 2024 at 1:50 PM
Q2 2024 Securities Filings and Settlements: Key Insights

CRA Insights has prepared its update on Section 10(b) and Section 11 filings and settlements.

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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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CFTC Seeks Public Comment on Proposed Crypto Asset Regulatory Framework

The Commodity Futures Trading Commission (CFTC) has issued an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comment on a potential regulatory framework for retail commodity transactions involving crypto assets, which the agency calls "CTXs." According to the CFTC's press release, the initiative focuses on Section 2(c)(2)(D) of th...

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FINRA Bars Former Wedbush Broker Over $3.5 Million in Complex ETP Losses

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FINRA Fines and Suspends Former LPL Broker Over Undisclosed Customer Settlement

The Financial Industry Regulatory Authority (FINRA) fined former LPL Financial broker Gregory W.