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Tagged with "eccleston"

FINRA Arbitration Panel Orders Wells Fargo To Pay Client $500,000 For Mismanagement of McDonald’s Stock Options

Posted on April 14th, 2023 at 2:03 PM
FINRA Arbitration Panel Orders Wells Fargo To Pay Client $500,000 For Mismanagement of  McDonald’s Stock Options

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay a former McDonald’s franchise owner $500,000 for allegedly mishandling stock options he owned in the company.

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SEC Orders Merrill Lynch to Pay $9.7 Million For Failing to Disclose Foreign Exchange Fees

Posted on April 13th, 2023 at 1:21 PM
SEC Orders Merrill Lynch to Pay $9.7 Million For Failing to Disclose Foreign Exchange Fees

The Securities and Exchange Commission (SEC) has ordered Merrill Lynch to pay $9.7 million for failing to disclose certain foreign exchange fees charged to clients for currency conversions.

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FINRA Bars Former LPL and Raymond James Advisor Who Improperly Borrowed $850,000 From Clients

Posted on April 12th, 2023 at 1:16 PM
FINRA Bars Former LPL and Raymond James Advisor Who Improperly Borrowed $850,000  From Clients

The Financial Industry Regulatory Authority (FINRA) has barred a Chattanooga-based financial advisor who improperly borrowed at least $850,000.

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Blackstone REIT Limited Investor Redemptions in March

Posted on April 11th, 2023 at 1:14 PM
Blackstone REIT Limited Investor Redemptions in March

Blackstone Real Estate Income Trust, a non-traded real estate investment trust sponsored by Blackstone Group, announced that the company fulfilled only 15% of repurchase requests in March.

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SEC Seeks to Expand “Dealer” Definition to Expand Regulatory Oversight

Posted on April 11th, 2023 at 8:47 AM
SEC Seeks to Expand “Dealer” Definition to Expand Regulatory Oversight

The Securities and Exchange Commission (SEC) is seeking to expand its definition of “securities dealers”, which has resulted in criticism from various private fund and investment advisors that wish to avoid additional regulatory oversight.

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FINRA Submits Further Revisions To Remote Supervision Proposal

Posted on April 6th, 2023 at 3:05 PM
FINRA Submits Further Revisions To Remote Supervision Proposal

The Financial Industry Regulatory Authority (FINRA) has submitted to the Securities and Exchange Commission (SEC) another revision to one of its two remote supervision proposals. 

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FINRA Warns Firms Regarding Fraudulent Account Transfers

Posted on April 5th, 2023 at 1:54 PM
FINRA Warns Firms Regarding Fraudulent Account Transfers

The Financial Industry Regulatory Authority (FINRA) is warning financial advisory firms about a recent increase in fraudulent transfers of client accounts via the Automated Customer Account Transfer Service (ACATS).

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Morgan Stanley Ordered to Pay $782,000 Over Mismanagement of Client’s Estate

Posted on April 4th, 2023 at 1:05 PM
Morgan Stanley Ordered to Pay $782,000 Over Mismanagement of Client’s Estate

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $782,000 to a client’s estate after the firm allegedly ignored court-ordered limits when permitting a conservator to withdraw from the account.

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Non-Traded REIT Redemptions Exceed 350% of Fundraising in February

Posted on April 3rd, 2023 at 1:31 PM
Non-Traded REIT Redemptions Exceed 350% of Fundraising in February

Fundraising among non-traded real estate investment trusts has dipped to $489 million in February 2023, which constitutes the lowest point since August 2020.

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SEC Charges Financial Advisor With Misappropriating Funds From NBA Players

Posted on March 31st, 2023 at 1:18 PM
SEC Charges Financial Advisor With Misappropriating Funds From NBA Players

The Securities and Exchange Commission (SEC) has charged a former Morgan Stanley advisor, Darryl Cohen, with misappropriating nearly $1 million from three current and former NBA players over a two-and-a-half-year period.

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