Tagged with "eccleston"

FINRA Fines Janney Over Compliance Failures Related to Two Advisors

Posted on October 31st, 2022 at 11:41 AM
FINRA Fines Janney Over Compliance Failures Related to Two Advisors

The Financial Industry Regulatory Authority (FINRA) has fined Janney Montgomery Scott, a regional financial advisory firm, $245,000 due to compliance failures that permitted two advisors to over-concentrate 11 clients in energy equities.

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SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme

Posted on October 28th, 2022 at 11:38 AM
SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme

The Securities and Exchange Commission (SEC) has charged Crew Capital Group and the estate of Stephen Swensen, who was formerly a financial advisor, for orchestrating a fraudulent investment scheme that generated nearly $29 million from at least 50 investors between 2011 and 2022. 

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SEC Probes Financial Advisory Firms’ Use of WhatsApp and Other Messaging Platforms

Posted on October 27th, 2022 at 2:51 PM
SEC Probes Financial Advisory Firms’ Use of WhatsApp and Other Messaging Platforms

The Securities and Exchange Commission (SEC) is investing whether financial advisory firms used WhatsApp or other outside messaging platforms to communicate with clients.

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FINRA Imposes First Fine For Reg BI Violation

Posted on October 26th, 2022 at 1:53 PM
FINRA Imposes First Fine For Reg BI Violation

The Financial Industry Regulatory Authority (FINRA) has issued a six-month suspension and a $5,000 fine to a former financial advisor in the regulator’s first disciplinary action related to Regulation Best Interest (Reg BI). 

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FINRA Fines UBS and Barclays Capital Over Trading Violations

Posted on October 25th, 2022 at 1:59 PM
FINRA Fines UBS and Barclays Capital Over Trading Violations

The Financial Industry Regulatory Authority (FINRA) has fined UBS Securities $2.5 million for violating a rule regarding a common problem known as a “failure to deliver”, which could lead to the potential sale of securities that an investor does not own or has not borrowed. 

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SEC Charges Florida Man and French National with $40 Million Securities Fraud

Posted on October 24th, 2022 at 12:58 PM
SEC Charges Florida Man and French National with $40 Million Securities Fraud

The Securities and Exchange Commission (SEC) has charged a Florida-based real estate agent, Fernando Bastos, and a resident of France, Joao Fonseca, as well as four entities they owned for orchestrating an investment fraud.

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SEC Advised To Alter Plan Addressing Onerous RIA Arbitration Clauses and Other Senior Protection Issues

Posted on October 21st, 2022 at 1:21 PM
SEC Advised To Alter Plan Addressing Onerous RIA Arbitration Clauses and Other Senior Protection Issues

The Securities and Exchange Commission (SEC) has been urged by several organizations to address investment advisory firms’ use of mandatory arbitration to settle client disputes as well as threats to older investors in its regulatory agenda for the next four years.

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SEC Charges California Advisory Firm with Operating a Ponzi-Style Scheme

Posted on October 20th, 2022 at 12:49 PM
SEC Charges California Advisory Firm with Operating a Ponzi-Style Scheme

The Securities and Exchange Commission (SEC) has charged JMJ Capital Group and its president, Richard Ramirez, with fraudulently raising millions of dollars from California-based investors. 

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SEC Charges Former Chicago LPL Advisor For Stealing $1.3 Million From Elderly Client

Posted on October 19th, 2022 at 3:09 PM
SEC Charges Former Chicago LPL Advisor For Stealing $1.3 Million From Elderly Client

The Securities and Exchange Commission (SEC) has charged a former LPL financial advisor for stealing nearly $1.3 million from an elderly client, who suffers from dementia, and utilizing the funds to cover personal and business expenses. 

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FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap

Posted on October 18th, 2022 at 2:19 PM
FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap

The Financial Industry Regulatory Authority (FINRA) has updated its sanction guidelines used to determine the level of fines or penalties to impose on firms and their financial advisors. 

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LATEST NEWS AND ARTICLES

September 19, 2025
Financial Advisors Split on AI Adoption

Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that financial advisors remain divided on its role and value.

September 18, 2025
Easterly ROCMuni Fund Collapse Triggers Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.

September 17, 2025
FINRA Suspends Centaurus Dallas Broker Over Excessive Alternative Investment Sales

FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.