Tagged with "eccleston"

FINRA Bars High-Producing Beverly Hills Advisor

Posted on March 9th, 2023 at 5:40 PM
FINRA Bars High-Producing Beverly Hills Advisor

The Financial Industry Regulatory Authority (FINRA) has barred a Beverly Hills-based advisor, Antoine Souma, who allegedly participated in a private securities transaction in violation of industry rules.

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SEC Charges NBA Hall of Famer Paul Pierce For Improperly Promoting Crypto Security

Posted on March 8th, 2023 at 4:20 PM
SEC Charges NBA Hall of Famer Paul Pierce For Improperly Promoting Crypto Security

The Securities and Exchange Commission (SEC) has charged NBA Hall of Famer Paul Pierce for promoting EMAX tokens, crypto securities sold by EthereumMax, on social media without disclosing the compensation he received from the company and for making misleading promotional statements regarding the tokens.

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KBS Growth & Income REIT Defaults on Commonwealth Building Loan

Posted on March 7th, 2023 at 3:03 PM
KBS Growth & Income REIT Defaults on Commonwealth Building Loan

KBS Growth & Income REIT Inc., a publicly registered non-traded real estate investment trust, announced that the company has defaulted on the Commonwealth Building mortgage loan after failing to repay outstanding debt that was due on February 1, 2023, according to a filing with the Securities and Exchange Commission (SEC). 

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Hightower Fails To Stop Former Advisor From Establishing Competing Business

Posted on March 6th, 2023 at 3:03 PM

A former Alabama-based Hightower advisor has prevailed in court after the firm attempted to stop the advisor from establishing a competing firm. 

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FTX Investor Files Suit Against Sequoia Capital, Thoma Bravo, Paradigm

Posted on March 3rd, 2023 at 2:18 PM
FTX Investor Files Suit Against Sequoia Capital, Thoma Bravo, Paradigm

A cryptocurrency investor has filed suit against private equity firms including Sequoia Capital, Thoma Bravo, and Paradigm for improperly touting the legitimacy of FTX. 

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FINRA Finds Schwab Liable to Investor For Recommending Unsuitable Complex ETF

Posted on March 2nd, 2023 at 12:11 PM
FINRA Finds Schwab Liable to Investor For Recommending Unsuitable Complex ETF

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Charles Schwab to pay an investor and his designated beneficiary plan $144,000 in damages plus interest. 

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Morgan Stanley Ordered to Pay $7.8 Million Over Improper Hiring of Schwab Financial Advisors

Posted on March 1st, 2023 at 1:32 PM
Morgan Stanley Ordered to Pay $7.8 Million Over Improper Hiring of Schwab Financial Advisors

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $7.8 million after its improperly recruited two financial advisors from Charles Schwab in 2019. 

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Prospect BDC Releases Going Concern Warning

Posted on February 28th, 2023 at 2:27 PM
Prospect BDC Releases Going Concern Warning

Prospect Floating Rate and Alternative Income Fund Inc. (“Prospect”) announced in its most recent quarterly report submitted to the Securities and Exchange Commission (SEC) that “there is substantial doubt about the company’s ability to continue as a going concern” for at least one year after February 13, 2023. 

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SEC Examiners to Target Complex Products, Annuities, Non-Traded REITs in Reg BI Investigations

Posted on February 27th, 2023 at 3:26 PM
SEC Examiners to Target Complex Products, Annuities, Non-Traded REITs in Reg BI Investigations

The Securities and Exchange Commission’s (SEC’s) Examinations Division will target advisors’ recommendations of complex derivatives and leveraged ETFs, as well as annuities and nontraded REITs in Regulation Best Interest (Reg BI) investigations in 2023. 

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Former Edward Jones Advisor Prevails in TRO Dispute After Joining Ameriprise

Posted on February 24th, 2023 at 10:42 AM
Former Edward Jones Advisor Prevails in TRO Dispute After Joining Ameriprise

A federal judge has denied Edward Jones’ request to restrict an Illinois-based advisor from contacting his former clients after departing for Ameriprise. 

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If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

September 19, 2025
Financial Advisors Split on AI Adoption

Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that financial advisors remain divided on its role and value.

September 18, 2025
Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.