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Tagged with "eccleston"

SEC Takes Action Against 11 Wall Street Firms for Record-keeping Violations

Posted on August 18th, 2023 at 11:31 AM
SEC Takes Action Against 11 Wall Street Firms for Record-keeping Violations

The Securities and Exchange Commission (SEC) has charged 11 firms with significant and longstanding failures to uphold electronic communication preservation regulations.

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SEC Charges Fund Administrator Over Ignoring Warning Signs

Posted on August 17th, 2023 at 11:44 AM
SEC Charges Fund Administrator Over Ignoring Warning Signs

The Securities and Exchange Commission (SEC) has settled charges against Theorem Fund Services LLC (TFS) for failing to respond to red flags relating to the commission of fraud against a private fund and its investors.

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FINRA Bans Former Raymond James Advisor for Attempting to Deceive Investigators

Posted on August 16th, 2023 at 4:02 PM
FINRA Bans Former Raymond James Advisor for Attempting to Deceive Investigators

The Financial Industry Regulatory Authority (FINRA) has barred a former Raymond James advisor. 

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Massachusetts Secretary of the Commonwealth Launches Investigation Into Advisors' Use of AI

Posted on August 15th, 2023 at 1:21 PM
Massachusetts Secretary of the Commonwealth Launches Investigation Into Advisors' Use of AI

Secretary of the Commonwealth, William Galvin, has announced an inquiry by his securities division to investigate the utilization of AI by companies in their interactions with Massachusetts investors.

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FINRA Penalizes Former LPL Advisor for Falsified Signatures

Posted on August 15th, 2023 at 8:58 AM
FINRA Penalizes Former LPL Advisor for Falsified Signatures

A former LPL Financial advisor, Bradley T. Wastler, has received a ten-month suspension and a $7,500 fine from the Financial Industry Regulatory Authority (FINRA).

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Bankruptcy Court Approves DWG's Reorganization Plan

Posted on August 11th, 2023 at 1:13 PM
Bankruptcy Court Approves DWG's Reorganization Plan

The Bankruptcy Court for the Southern District of Texas has approved GWG Holdings Inc.'s reorganization plan.

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Fifth Circuit Upholds Conviction of UDF Executives in Securities Fraud Case

Posted on August 10th, 2023 at 11:48 AM
Fifth Circuit Upholds Conviction of UDF Executives in Securities Fraud Case

In a recent ruling, the Fifth Circuit upheld the conviction of United Development Funding (UDF) executives on multiple charges of wire and securities fraud linked to their operation of a Ponzi scheme.

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SEC Finds Deficiencies in Broker-Dealers' Anti-Money Laundering Policies

Posted on August 8th, 2023 at 1:11 PM
SEC Finds Deficiencies in Broker-Dealers' Anti-Money Laundering Policies

The Securities and Exchange Commission (SEC) has issued an alert to broker-dealers regarding deficiencies found in their examinations related to crucial anti-money laundering (AML) requirements.

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Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration

Posted on August 7th, 2023 at 1:37 PM
Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration

A Virginia federal judge recently dismissed a complaint filed by a registered investment advisor (RIA), Colonial River Wealth Advisors, against broker-dealer Cambridge Investment Research, in favor of arbitration to resolve the dispute.

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DOJ Accuses Advisors of $5M Fraud Amid Lawsuit Against Trump Attorney

Posted on August 4th, 2023 at 1:08 PM
DOJ Accuses Advisors of $5M Fraud Amid Lawsuit Against Trump Attorney

The Justice Department has charged investment advisor brothers Adam and Daniel Kaplan with wire and investment fraud and money laundering. 

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