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Tagged with "eccleston"

FINRA Arbitration Awards $100,000 to Investor Over Unsuitable GWG L Bonds

Posted on June 5th, 2024 at 10:57 AM
FINRA Arbitration Awards $100,000 to Investor Over Unsuitable GWG L Bonds

In a recent FINRA arbitration, an investor was awarded close to $100,000 due to unsuitable investments in GWG L bonds purchased in 2018 and 2020.

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SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

Posted on June 4th, 2024 at 1:13 PM
SEC Files Charges Against Robert M.Thompson and Financial Freedom Foundation

The U.S. Securities and Exchange Commission (SEC) has taken legal action against Robert M. Thompson and Financial Freedom Foundation (F3 Mastermind), a private entity under his control, for allegedly defrauding investors through three securities offerings.

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Bank Sues Founders of Precedent Wealth

Posted on June 3rd, 2024 at 4:08 PM
Bank Sues Founders of Precedent Wealth

Cadence Bank has filed a lawsuit against the founders of Precedent Wealth, a San Antonio RIA, accusing them of stealing confidential information and trade secrets in an effort to poach clients from their former firm.

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Advisor Ordered to Pay $2.6 Million in Damages for Breaching Asset Purchase Agreement

Posted on May 31st, 2024 at 2:13 PM
Advisor Ordered to Pay $2.6 Million in Damages for Breaching Asset Purchase Agreement

A FINRA arbitration panel has ordered Nicole E. Sennett to pay $2,557,000 in compensatory damages to Monocacy Wealth Partners and its founders, Scott A. Brantingson and his son, Scott M. Brantingson.

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FINRA Targets Repeat Offenders and Reg BI Violations in Enforcement Focus

Posted on May 29th, 2024 at 1:22 PM
FINRA Targets Repeat Offenders and Reg BI Violations in Enforcement Focus

AdvisorHub reports that the Financial Industry Regulatory Authority (FINRA) is advocating more stringent penalties for repeat offenders who fail to comply with FINRA rules or securities laws.

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SEC and FinCEN Propose Stricter Anti-Money Laundering Rules for Investment Advisors

Posted on May 28th, 2024 at 10:22 AM
SEC and FinCEN Propose Stricter Anti-Money Laundering Rules for Investment Advisors

The Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN) have proposed a rule to enhance anti-money laundering (AML) and counter-terrorism practices for registered investment advisers (RIAs) and exempt reporting advisers, including private fund and venture capital advisors.

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SEC Fines Five Investment Advisory Firms for Marketing Rule Violations

Posted on May 24th, 2024 at 2:16 PM
SEC Fines Five Investment Advisory Firms for Marketing Rule Violations

The Securities and Exchange Commission (SEC) has taken action against five registered investment advisory (RIA) firms for breaching its updated marketing rule, resulting in a combined penalty of $200,000, as disclosed in a recent announcement.

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Stifel Fined Nearly $3 Million for Supervisory Failures

Posted on May 23rd, 2024 at 1:12 PM
Stifel Fined Nearly $3 Million for Supervisory Failures

Stifel Financial Corp. has agreed to pay fines and restitution totaling nearly $3 million due to deficiencies in supervision and compliance regarding the sale of non-traditional exchange-traded funds (NT-ETFs) and products per a filed AWC (Acceptance, Waiver, and Consent).

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Department of Labor Unveils New Fiduciary Rule

Posted on May 22nd, 2024 at 9:11 AM
Department of Labor Unveils New Fiduciary Rule

The Department of Labor (DOL) has announced a comprehensive update to its fiduciary rule, marking a significant overhaul of regulations dating back to 1975.

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FBI Report Highlights Rising Elder Fraud Trends

Posted on May 21st, 2024 at 11:00 AM
FBI Report Highlights Rising Elder Fraud Trends

The FBI's Internet Crime Complaint Center (IC3) released its 2023 Elder Fraud Report, revealing a concerning surge in elder fraud complaints and associated losses.

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LATEST NEWS AND ARTICLES

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.<...

1789403905 Law
September 14, 2026
SEC Considers Expanding Retail Access to Private Markets

The Securities and Exchange Commission (SEC) is considering a proposal that could expand retail investors' access to private markets and allow investment advisers to charge performance fees to a broader group of clients.

1789155492 Law
September 11, 2026
SEC Considers Investor Test to Expand Accredited Investor Eligibility

The Securities and Exchange (SEC) Chairman Paul S.