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Tagged with "eccleston"

SEC Introduces Stricter Fee Disclosure Rules for Hedge Funds and Private Equity Firms

Posted on September 13th, 2023 at 1:16 PM
SEC Introduces Stricter Fee Disclosure Rules for Hedge Funds and Private Equity Firms

The US Securities and Exchange Commission (SEC) has adopted new rules that will compel hedge funds and private equity firms to provide more transparent information about their fees and impose restrictions on granting special privileges to investors.

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Massachusetts Supreme Court Affirms Fiduciary Duty Rule for Brokers

Posted on September 12th, 2023 at 11:36 AM
Massachusetts Supreme Court Affirms Fiduciary Duty Rule for Brokers

The Massachusetts Supreme Judicial Court ruled that William Galvin, the state's top securities regulator, acted within his authority in September 2020 when he established the state's investment advice rule, which imposed a fiduciary duty rule on financial advisors.

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Unregistered Broker Faces SEC Charges for Illegally Selling Securities

Posted on September 11th, 2023 at 11:31 AM
Unregistered Broker Faces SEC Charges for Illegally Selling Securities

The Securities and Exchange Commission (SEC) has charged Blake Cathey with unlawfully selling securities of Florida-based Accanito Equity LLC, Accanito Equity II LLC, Accanito Equity III LLC, and Accanito Equity IV LLC to retail investors.

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Morgan Stanley Ordered to Pay $1.8 Million to Investor

Posted on September 7th, 2023 at 4:08 PM
Morgan Stanley Ordered to Pay $1.8 Million to Investor

In a recent decision, three arbitrators from the Financial Industry Regulatory Authority (FINRA) ordered Morgan Stanley to pay $1.8 million in damages to a former customer.

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Pennsylvania Financial Advisor Terminated Following Lawsuit

Posted on September 6th, 2023 at 3:42 PM
Pennsylvania Financial Advisor Terminated Following Lawsuit

LPL Financial has terminated John A. Dougherty following his being sued for allegedly over-leveraging an investor's account using a $5 million securities-based loan and assisting him in an external investment.

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Wells Fargo Resolves SEC Dispute Over Advisory Fees

Posted on September 5th, 2023 at 1:18 PM
Wells Fargo Resolves SEC Dispute Over Advisory Fees

The Securities and Exchange Commission (SEC) announced charges against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively, “Wells Fargo”).

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Class-Action Lawsuit Filed Against Schwab and TD Ameritrade

Posted on September 1st, 2023 at 2:13 PM
Class-Action Lawsuit Filed Against Schwab and TD Ameritrade

Charles Schwab and TD Ameritrade face a lawsuit for a data breach connected to the ongoing cyberattack targeting the MOVEit file-transfer software.

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Investment Advisors Brace for Influx of New Rules and Regulatory Changes

Posted on August 31st, 2023 at 1:08 PM
Investment Advisors Brace for Influx of New Rules and Regulatory Changes

The Securities and Exchange Commission's (SEC) announcement in May 2021 about enforcing a landmark marketing rule, approved by the agency the previous December, caused a considerable stir among investment advisers.

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Weighing the Upsides and Downsides of Alternative Investments

Posted on August 30th, 2023 at 1:09 PM
Weighing the Upsides and Downsides of Alternative Investments

In its 2023 Financial Advisor Survey, iCapital surveyed 400 U.S. registered financial professionals. Those professionals, who either use or are considering using alternatives within the coming year, are exploring ways to diversify beyond traditional 60/40 portfolios.

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SEC Accuses Investment Fund of Engaging in Deceptive Practices

Posted on August 29th, 2023 at 4:13 PM
SEC Accuses Investment Fund of Engaging in Deceptive Practices

The Securities and Exchange Commission (SEC) has brought settled charges against Summitcrest Capital Inc. and its principals, Johnny Tseng and Kevin Zhang, alleging that they engaged in an offering fraud via their real estate investment fund, SC Development Fund LLC.

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LATEST NEWS AND ARTICLES

1773930497 Law
March 19, 2026
Stifel Faces Proposed ERISA Class Action Over 401(k) Fund Performance

According to ThinkAdvisor, Stifel Financial now faces a proposed class action lawsuit that accuses the firm of mismanaging its profit sharing 401(k) retirement plan in violation of the Employee Retirement Income Security Act (ERISA).

1773851287 Law
March 18, 2026
LPL and Ameriprise Notify Clients of Cybersecurity Incidents Involving Account Access

LPL Financial and Ameriprise Financial Services recently notified certain clients about separate cybersecurity incidents that exposed private information and, in one case, led to unauthorized trading activity.

1773760408 Law
March 17, 2026
Bankruptcy Court Orders Emerson Equity to Produce Records in Inspired Healthcare Case

A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.