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Tagged with "eccleston"

Cambridge Investment Research Faces FINRA Review and SEC Penalties

Posted on July 19th, 2024 at 11:15 AM
Cambridge Investment Research Faces FINRA Review and SEC Penalties

Cambridge Investment Research is under review by FINRA's examination staff and anticipates making a $500,000 restitution payment to certain clients in 2024.

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Financial Institutions Struggle to Combat Rising Authorized Transfer Scams

Posted on July 18th, 2024 at 1:02 PM
Financial Institutions Struggle to Combat Rising Authorized Transfer Scams

According to InvestmentNews, financial institutions are increasingly grappling with authorized transfer scams as scammers become more adept at convincing individuals to transfer funds. Despite prioritizing resources to mitigate those scams, only 50 percent of financial institutions feel confident in their ability to detect and stop fraudulent activities.

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Morgan Stanley Settles Block Trade Investigations for $249 Million

Posted on July 18th, 2024 at 11:39 AM
Morgan Stanley Settles Block Trade Investigations for $249 Million

Morgan Stanley has agreed to pay $249.4 million to resolve criminal and civil investigations into its handling of large stock trades for customers, according to a recent story in The Wall Street Journal.

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FINRA Sanctions CFP for Sharing Exam Content

Posted on July 17th, 2024 at 1:40 PM
FINRA Sanctions CFP for Sharing Exam Content

The Financial Industry Regulatory Authority (FINRA) has fined Certified Financial Planner Joseph Occhipinti $5,000 and suspended him for one month for sharing CFP exam content with others.

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FINRA Bars Two Former Raymond James Advisors for Non-Cooperation in Investigations

Posted on July 16th, 2024 at 10:28 AM
FINRA Bars Two Former Raymond James Advisors for Non-Cooperation in Investigations

The Financial Industry Regulatory Authority (FINRA) has barred two former Raymond James financial advisors after they refused to cooperate with investigations into their departures from the St. Petersburg Florida-based firm, according to AdvisorHub.

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Salomon & Ludwin Sues Former Employees Despite Being a Protocol Move

Posted on July 15th, 2024 at 10:16 AM
Salomon & Ludwin Sues Former Employees Despite Being a Protocol Move

According to WealthManagement, a team of advisors has left Salomon & Ludwin (S&L), a registered investment advisor, to establish their own RIA, Founders Grove Wealth Partners, with backing from Dynasty Financial Partners.

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Former Apprentice Advisor Sentenced to Prison for Client Theft

Posted on July 12th, 2024 at 11:11 AM
Former Apprentice Advisor Sentenced to Prison for Client Theft

Dusty Sternadel, a former advisor with Ameriprise, has been sentenced to five years for defrauding clients of over $1.2 million. The Justice Department revealed that Sternadel pleaded guilty to wire fraud earlier this year.

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CFP Board Reaches Milestone with 100,000 Certified Financial Planners

Posted on July 11th, 2024 at 3:27 PM
CFP Board Reaches Milestone with 100,000 Certified Financial Planners

The CFP Board recently announced a significant milestone, surpassing 100,000 Certified Financial Planners (CFPs).

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Wells Fargo Faces ERISA Lawsuit Over 401(k) Plan Asset Use

Posted on July 10th, 2024 at 11:51 AM
Wells Fargo Faces ERISA Lawsuit Over 401(k) Plan Asset Use

A new proposed class action has been filed in the US District Court in the Northern District of California, alleging that Wells Fargo and its associated committees violated the Employee Retirement Income Security Act (ERISA).

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SEC Charges Investment Firm with Defrauding Investors of $3 Million

Posted on July 8th, 2024 at 1:18 PM
SEC Charges Investment Firm with Defrauding Investors of $3 Million

The U.S. Securities and Exchange Commission (SEC) has charged Joshua Goltry and his firm, JAG Capital Advisors LLC, with defrauding investors of at least $3 million over three years.

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1789490284 Law
September 15, 2026
FINRA Suspends Former Northwestern Mutual Broker Over Customer Loans

The Financial industry Regulatory Authority (FINRA) has suspended and fined a former Northwestern Mutual broker after he solicited two customers for loans to purchase another representative's book of business but instead used most of the money to pay personal expenses and other debt, according to an Acceptance, Waiver, and Consent (AWC) letter.<...

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SEC Considers Expanding Retail Access to Private Markets

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