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Tagged with "eccleston"

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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Former NFL Player Turned Morgan Stanley Advisor Suspended by FINRA

Posted on October 4th, 2023 at 1:14 PM
Former NFL Player Turned Morgan Stanley Advisor Suspended by FINRA

The Financial Industry Regulatory Authority (FINRA) has imposed penalties on William D. Ard, a former professional football player turned advisor.

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FINRA's Overhaul of Arbitrator Selection System Moves Forward

Posted on October 3rd, 2023 at 1:11 PM
FINRA's Overhaul of Arbitrator Selection System Moves Forward

FINRA has received approval to revamp its procedures for removing arbitrators from the three-member panels responsible for arbitration matters involving claims between and among financial advisors, their firms, and customers.

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FINRA Arbitrators Rule Expelled Brokerage Must Pay $3.2 Million for Excessive Trading

Posted on October 2nd, 2023 at 1:09 PM
FINRA Arbitrators Rule Expelled Brokerage Must Pay $3.2 Million for Excessive Trading

Financial Industry Regulatory Authority (FINRA) arbitrators issued an award holding Salomon Whitney Financial (SW Financial) accountable for excessive, unsuitable, and unauthorized stock trading on margin in a customer account.

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

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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.