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Tagged with "eccleston"

FINRA Extends Remote Inspection Provision Through 2024

Posted on October 19th, 2023 at 4:19 PM
FINRA Extends Remote Inspection Provision Through 2024

The Financial Industry Regulatory Authority (FINRA) has informed the Securities and Exchange Commission (SEC) of its intention to continue a temporary program permitting member firms to inspect their brokers' offices remotely.

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Massachusetts RIA Agrees to Settlement with SEC Over Marketing Violations

Posted on October 18th, 2023 at 11:36 AM
Massachusetts RIA Agrees to Settlement with SEC Over Marketing Violations

Massachusetts-based RIA Wellesley Asset Management (WAM) will pay a $1 million civil penalty to resolve allegations of using hypothetical performance information in advertisements without adequate disclosures.

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SEC Files Charges Against Bruderman Asset Management and Principal for Concealing Misuse of Investment Funds

Posted on October 17th, 2023 at 1:16 PM
SEC Files Charges Against Bruderman Asset Management and Principal for Concealing Misuse of Investment Funds

The Securities and Exchange Commission (SEC) has announced that Bruderman Asset Management LLC (BAM), based in New York, and its principal, Matthew J. Bruderman, have agreed to settle charges stemming from their failure to disclose the misuse of proceeds obtained from clients. 

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SEC Intensifies WhatsApp Probe

Posted on October 16th, 2023 at 1:13 PM
SEC Intensifies WhatsApp Probe

The Securities and Exchange Commission (SEC) has heightened its investigation into Wall Street's utilization of private messaging applications by gathering thousands of staff messages from over a dozen major investment companies.

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Private Equity Firms Seek $750 Million in Lawsuit Against Morgan Stanley for Alleged Fraud

Posted on October 13th, 2023 at 11:51 AM

Private equity firms Certares Management LLC and Knighthead Capital Management LLC have filed a lawsuit against Morgan Stanley, seeking at least $750 million in damages.

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Former Florida-Based Morgan Stanley Advisor Accepts Industry Ban Amid Fraud Probe

Posted on October 12th, 2023 at 2:18 PM
Former Florida-Based Morgan Stanley Advisor Accepts Industry Ban Amid Fraud Probe

A former Morgan Stanley advisor in Fort Lauderdale, Florida, with 23 years of experience, opted for an industry ban instead of cooperating with a Financial Industry Regulatory Authority (FINRA) investigation.

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Goldman Sachs to Pay $5.5 Million Due to Pandemic-Era Audio Recording Failures

Posted on October 11th, 2023 at 10:44 AM
Goldman Sachs to Pay $5.5 Million Due to Pandemic-Era Audio Recording Failures

The Commodity Futures Trading Commission (CFTC) has imposed a $5.5 million fine on Goldman Sachs for alleged failures in recording and retaining mobile device calls made by its traders at the beginning of the Covid-19 pandemic.

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Deutsche Asset Management Unit Pays $25 Million to Settle "Greenwashing" and AML Violations

Posted on October 10th, 2023 at 1:58 PM
Deutsche Asset Management Unit Pays $25 Million to Settle

Deutsche Bank AG's DWS asset management unit has agreed to a $25 million settlement with the Securities and Exchange Commission (SEC) over two separate issues.

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SEC Charges AIM for Violating Fiduciary Duties

Posted on October 6th, 2023 at 1:26 PM
SEC Charges AIM for Violating Fiduciary Duties

The Securities and Exchange Commission (SEC) announced that American Infrastructure Funds LLC (AIM), a registered investment adviser, has agreed to a settlement exceeding $1.6 million to resolve charges.

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SEC Accuses Californian of Orchestrating $11.8 Million Ponzi Scheme

Posted on October 5th, 2023 at 10:20 AM
SEC Accuses Californian of Orchestrating $11.8 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has charged Tilila Walker Sumchai of Richmond, California, with defrauding more than 1,000 retail investors, raising around $11.8 million.

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LATEST NEWS AND ARTICLES

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.