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Tagged with "eccleston"

SEC Secures Receiver for GPB Capital Holdings Following Alleged Deceptive Practices

Posted on January 10th, 2024 at 2:20 PM
SEC Secures Receiver for GPB Capital Holdings Following Alleged Deceptive Practices

The U.S. District Court for the Eastern District of New York approved the SEC's request to transition the ongoing monitorship over GPB Capital Holdings, LLC and its affiliates into a receivership.

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Regulatory Concerns Mount as Wells Fargo Faces Criticism for Insufficient Oversight of Customer Crimes

Posted on January 9th, 2024 at 2:11 PM
Regulatory Concerns Mount as Wells Fargo Faces Criticism for Insufficient Oversight of Customer Crimes

Wells Fargo is under regulatory scrutiny. According to the Wall Street Journal, regulators have directed the bank to enhance its capabilities in detecting and preventing criminal activity associated with its accounts or products.

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JPMorgan Faces Allegations in $50 Million Wealth Loss Case by 78 Year Old Investor with Dementia

Posted on January 8th, 2024 at 2:47 PM
JPMorgan Faces Allegations in $50 Million Wealth Loss Case by 78 Year Old Investor with Dementia

A successful entrepreneur who had entrusted JPMorgan Chase & Co. with his substantial wealth, once valued at $50 million and now valued at $1.5 million, has sued JPMorgan.

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SEC Approves Eased Oversight Guidelines for Remote Advisors

Posted on January 5th, 2024 at 1:34 PM
SEC Approves Eased Oversight Guidelines for Remote Advisors

Advisors opting for home offices received a nod from the Securities and Exchange Commission (SEC) as it greenlit rules permitting remote inspections of advisors' offices.

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Alternative Liquidity Capital Proposes Tender Offer for Shares of Closed Wildermuth Fund

Posted on January 4th, 2024 at 2:39 PM
Alternative Liquidity Capital Proposes Tender Offer for Shares of Closed Wildermuth Fund

Liquidity Index LP, an affiliated Delaware limited partnership of Alternative Liquidity Capital, has offered to acquire up to 238,000 Class I shares of The Wildermuth Fund.

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SEC Imposes Fines on Advisors for Regulation best Interest (Reg BI) Violations

Posted on January 3rd, 2024 at 11:52 AM
SEC Imposes Fines on Advisors for Regulation best Interest (Reg BI) Violations

The Securities and Exchange Commission (SEC) has sanctioned two Laidlaw advisors, Richard Michalski and Michael Murray, for violating Regulation Best Interest's care obligation by making recommendations to four retail customers without a reasonable basis.

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Morgan Stanley Agrees to Fine for Failure to Provide Fund Disclosures

Posted on January 2nd, 2024 at 1:16 PM
Morgan Stanley Agrees to Fine for Failure to Provide Fund Disclosures

Morgan Stanley has agreed to a censure and a $400,000 fine following a Financial Industry Regulatory Authority (FINRA) investigation, which revealed the failure to deliver prospectuses to approximately 44,000 accounts invested in specific exchange-traded funds (ETFs).

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SEC Unmasks Connecticut-Based Adviser's $5.9 Million Fraud Scheme

Posted on January 2nd, 2024 at 11:45 AM
SEC Unmasks Connecticut-Based Adviser's $5.9 Million Fraud Scheme

The Securities and Exchange Commission (SEC) has unveiled a case of alleged fraud involving Connecticut-based unregistered investment adviser John A. Masanotti, Jr., and his company, Middlesex Mortgage Group LLC.

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Former Morgan Stanley Advisor Agrees to Settle with FINRA for Unapproved Investments

Posted on December 22nd, 2023 at 10:39 AM
Former Morgan Stanley Advisor Agrees to Settle with FINRA for Unapproved Investments

Former Morgan Stanley advisor Sara Y. Qazi has agreed to a $15,000 fine and a three-month suspension after the Financial Industry Regulatory Authority (FINRA) had alleged that she aided a client in an unauthorized private investment.

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Industry Advocates Criticize NASAA's Proposed Amendments to Business Practices Rule as Overreach

Posted on December 21st, 2023 at 2:30 PM

The North American Securities Administrators Association (NASAA) is facing criticism from the Institute for Portfolio Alternatives (IPA) and the Financial Services Institute (FSI) regarding its proposed updates to the "Dishonest or Unethical Business Practices of Broker-Dealers and Agents”, commonly known as the "Business Practices Rule."

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LATEST NEWS AND ARTICLES

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.