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Tagged with "eccleston"

SEC Investigation into JPMorgan's Advisory Account Aggregation

Posted on December 1st, 2023 at 11:58 AM
SEC Investigation into JPMorgan's Advisory Account Aggregation

The Securities and Exchange Commission (SEC) has launched two investigations that may affect the interests of advisors and clients of JPMorgan Chase & Co.

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FINRA Reveals Baird's $500K Shortfall in Mutual Fund Rebates to Clients

Posted on November 30th, 2023 at 1:36 PM
FINRA Reveals Baird's $500K Shortfall in Mutual Fund Rebates to Clients

Robert W. Baird & Co. has reached a settlement with the Financial Industry Regulatory Authority (FINRA) wherein they accepted a censure and committed to reimbursing more than $500,000 to clients who were overcharged for their mutual fund investments.

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Arbitration Mandated for Former Morgan Stanley Advisors' Class Claim on Deferred Compensation

Posted on November 28th, 2023 at 1:10 PM
Arbitration Mandated for Former Morgan Stanley Advisors' Class Claim on Deferred Compensation

A federal judge in Manhattan has granted Morgan Stanley’s request to transfer a potential class action lawsuit to arbitration.

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Wells Fargo Under SEC Scrutiny for Cash Sweep Programs

Posted on November 28th, 2023 at 9:47 AM
Wells Fargo Under SEC Scrutiny for Cash Sweep Programs

The Securities and Exchange Commission (SEC) is investigating Wells Fargo & Company over cash sweep options provided to investment advisory clients.

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FINRA Alleges $2 Million in Client Losses and $2 Million in Commissions Due to Advisor's Churning

Posted on November 22nd, 2023 at 12:08 PM
FINRA Alleges $2 Million in Client Losses and $2 Million in Commissions Due to Advisor's Churning

According to a Financial Industry Regulatory Authority (FINRA) complaint, Stewart "Paxton" Ginn excessively traded accounts over two and a half years, resulting in $2.22 million in losses and $2.24 million in commissions for him and his firm.

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SEC Charges Former Advisor with $2 Million Fraudulent Scheme

Posted on November 21st, 2023 at 1:56 PM
SEC Charges Former Advisor with $2 Million Fraudulent Scheme

The Securities and Exchange Commission (SEC) has announced the filing of charges against an investment adviser based in Santa Maria, California.

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The Classic 60-40 Investment Strategy Faces its Most Challenging Year in Decades

Posted on November 20th, 2023 at 11:40 AM
The Classic 60-40 Investment Strategy Faces its Most Challenging Year in Decades

Millions of Americans are experiencing disruption in their retirement planning due to rising interest rates and inflation.

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SEC Charges Prophecy Asset Management's President/CCO with Multi-Year Fraud Scheme

Posted on November 17th, 2023 at 2:15 PM
SEC Charges Prophecy Asset Management's President/CCO with Multi-Year Fraud Scheme

The Securities and Exchange Commission (SEC) has filed charges against John Hughes, who served as the president and chief compliance officer of registered investment adviser Prophecy Asset Management LP.

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New DOL Fiduciary Rule Takes Aim at Loopholes in Retirement Savings

Posted on November 16th, 2023 at 11:52 AM
New DOL Fiduciary Rule Takes Aim at Loopholes in Retirement Savings

The Department of Labor (DOL) unveiled its latest retirement security rule, which involves altering the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA).

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SEC Focuses on Increased Scrutiny for Hybrid Firms in 2024 Examination Priorities

Posted on November 15th, 2023 at 1:16 PM
SEC Focuses on Increased Scrutiny for Hybrid Firms in 2024 Examination Priorities

As the ranks of hybrid advisor-brokers, registered with both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), continue to grow, regulators are intensifying their scrutiny.

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TESTIMONIALS

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We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

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Account Takeover Fraud Continues to Rise as Cybercriminals Refine Their Tactics

Cybercriminals continue to refine account takeover schemes, driving billions of dollars in losses for businesses and consumers each year.

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FINRA Arbitration Panel Orders Arkadios Capital to Pay $2.7 Million in Ponzi Scheme-Related Claim

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Arkadios Capital to pay $2.7 million in damages to an investor who alleged the firm failed to supervise a former registered representative whose father operated a long-running Ponzi scheme, according to InvestmentNews.

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SEC Fines Former LPL Broker $125,000 for Undisclosed Conflicts in Private Securities Offerings

The Securities and Exchange Commission (SEC) has censured a former LPL Financial broker and imposed a $125,000 civil penalty after finding that he failed to disclose conflicts of interest related to private real estate securities offerings that generated nearly $1.5 million in compensation, as reported by AdvisorHub.