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Tagged with "eccleston"

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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Traders Engage in Boom-or-Bust Options in Stock Market

Posted on September 29th, 2023 at 10:36 AM
Traders Engage in Boom-or-Bust Options in Stock Market

The stock options market is experiencing a surge in activity, as many individual investors are eagerly engaging in trades that expire within hours or days to take advantage of the volatile market swings.

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Former LPL Affiliate Compliance Chief Suspended by FINRA for Unauthorized $1 Million Transfer

Posted on September 28th, 2023 at 2:20 PM
Former LPL Affiliate Compliance Chief Suspended by FINRA for Unauthorized $1 Million Transfer

The Financial Industry Regulatory Authority (FINRA) fined and suspended Jeffrey K. Kirkpatrick, a former chief compliance officer at a registered investment advisor previously affiliated with LPL.

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Former Creative Planning Staff File Lawsuit Challenging Non-Compete Agreements

Posted on September 27th, 2023 at 10:28 AM

Four former employees of Creative Planning have filed a lawsuit, alleging that their non-compete agreements with the firm unlawfully restrict their ability to work in the industry.

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Looming Real Estate Crisis Poses Risk to U.S. Banking Sector

Posted on September 26th, 2023 at 11:37 AM
Looming Real Estate Crisis Poses Risk to U.S. Banking Sector

With the current downturn in the commercial real estate market, trillions of dollars in loans and investments pose a looming threat to both the banking industry and potentially the broader economy.

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Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum

Posted on September 25th, 2023 at 11:37 AM
Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum

Apollo Global Management and Carlyle Group, two major private equity firms, now face investor lawsuits regarding payments made to insiders without apparent justification.

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State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

Posted on September 22nd, 2023 at 10:55 AM
State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.

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SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

Posted on September 21st, 2023 at 11:03 AM
SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset investments, with
inadequate disclosure of millions of dollars in real estate brokerage fees paid to a brokerage firm owned by its CEO.

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SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Posted on September 20th, 2023 at 8:49 AM
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).

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Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

Posted on September 19th, 2023 at 10:26 AM
Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

The Financial Industry Regulatory Authority (FINRA) has fined and censured broker-dealer Network 1 Financial Securities and its chief compliance officer for violating Regulation Best Interest (Reg BI).

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