Tagged with "eccleston"

Top Merrill Advisor Resigns Amid Customer Complaints

Posted on May 22nd, 2023 at 1:09 PM
Top Merrill Advisor Resigns Amid Customer Complaints

William King, a top-ranked advisor, voluntarily resigned last month after receiving at least ten customer complaints since August.

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Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit

Posted on May 19th, 2023 at 1:13 PM
Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit

Wells Fargo has agreed to pay $1 billion to settle a shareholder lawsuit that accused the company of making misleading statements related to its compliance with federal consent orders following the unauthorized customer account scandal in 2016.

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Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme

Posted on May 18th, 2023 at 1:11 PM
Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme

A former Chicago-based commodities trader, Phillip Galles, has been charged with a single count of wire fraud for allegedly misappropriating $2 million after informing clients that the funds would be invested in commodity futures. 

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FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations

Posted on May 17th, 2023 at 1:17 PM
FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations

The Financial Industry Regulatory Authority (FINRA) has sanctioned a New York-based financial advisory firm, SW Financial, and its Chief Executive Officer for multiple violations of Regulation Best Interest (Reg BI).

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Financial Advisory Firms Seek to Prevent “Disharmony” on Large Teams

Posted on May 16th, 2023 at 1:26 PM
Financial Advisory Firms Seek to Prevent “Disharmony” on Large Teams

Financial advisory firms and company executives continue to promote organizing as a team, which supposedly creates an improved service model for clients.

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Federal Judge Reaffirms Injunctions Against Advisors Who Departed USI for Lockton

Posted on May 15th, 2023 at 11:48 AM
Federal Judge Reaffirms Injunctions Against Advisors Who Departed USI for Lockton

A federal judge has upheld and expanded an injunction against several former USI financial advisors who departed for Lockton.

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SEC Charges Two Texas Advisors Over $155 Million Fraudulent Oil & Gas Offering

Posted on May 12th, 2023 at 1:14 PM
SEC Charges Two Texas Advisors Over $155 Million Fraudulent Oil & Gas Offering

The Securities and Exchange Commission (SEC) has charged Roy Hill and Eric Shelly along with two entities under their ownership, Clean Energy Technology Association (CETA) and Freedom Impact Consulting (FIC), for allegedly organizing a fraudulent offering that raised nearly $155 million from at least 500 investors. 

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Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women

Posted on May 11th, 2023 at 1:21 PM
Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women

Goldman Sachs has agreed to pay $215 million to settle a class-action lawsuit that accused the company of systemically underpaying female employees.

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U.S. Government To Investigate Goldman’s Role in Failed SVB Deal

Posted on May 9th, 2023 at 1:07 PM
U.S. Government To Investigate Goldman’s Role in Failed SVB Deal

U.S. governmental agencies are set to investigate Goldman Sachs’ role in Silicon Valley Bank’s (SVB’s) last-ditched effort to raise funds in March.

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SEC Charges Son and Father-in-Law Who Targeted Church Members in $20 Million Fraud

Posted on May 8th, 2023 at 1:22 PM
SEC Charges Son and Father-in-Law Who Targeted Church Members in $20 Million Fraud

The Securities and Exchange Commission (SEC) has charged Brett Bartlett and his father-in-law, Scott Miller, along with their companies over fraudulent securities offerings that generated nearly $20.5 million. 

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LATEST NEWS AND ARTICLES

January 15, 2026
FINRA Flags Risks of Early Withdrawals and Exchanges in Registered Index-Linked Annuities

The Financial Industry Regulatory Authority (FINRA) has issued a renewed warning to the industry about the risks consumers face when they exit registered index-linked annuities (RILAs) before the end of the contract term.

January 14, 2026
FINRA Fines and Suspends Wells Fargo Advisor Over Fictitious Expense Claims

The Financial Industry Regulatory Authority (FINRA) fined and suspended a Wells Fargo Advisors representative in Waco, Texas, after finding that he submitted fictitious business expense claims, according to a FINRA Acceptance, Waiver and Consent (AWC) letter.

January 12, 2026
Florida Man Indicted in $36 Million Investment Fraud Scheme

According to news sources, federal prosecutors allege that a Florida man orchestrated a multimillion-dollar Ponzi scheme that funded a luxury lifestyle built on stolen investor money, according to the U.S. Department of Justice.