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Tagged with "eccleston"

CFP Board Adopts Revised Procedural Rules

Posted on May 23rd, 2023 at 1:12 PM
CFP Board Adopts Revised Procedural Rules

The Certified Financial Planner Board (CFP Board) recently announced the adoption of the revised Procedural Rules. These rules, which will come into effect on September 1, 2023, aim to establish fair and credible processes for investigating misconduct and enforcing the CFP Board's Code of Ethics and Standards of Conduct.

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Top Merrill Advisor Resigns Amid Customer Complaints

Posted on May 22nd, 2023 at 1:09 PM
Top Merrill Advisor Resigns Amid Customer Complaints

William King, a top-ranked advisor, voluntarily resigned last month after receiving at least ten customer complaints since August.

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Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit

Posted on May 19th, 2023 at 1:13 PM
Wells Fargo Pays $1 Billion to Settle Class-Action Lawsuit

Wells Fargo has agreed to pay $1 billion to settle a shareholder lawsuit that accused the company of making misleading statements related to its compliance with federal consent orders following the unauthorized customer account scandal in 2016.

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Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme

Posted on May 18th, 2023 at 1:11 PM
Federal Prosecutors Charge Hedge Fund Manager For Ponzi Scheme

A former Chicago-based commodities trader, Phillip Galles, has been charged with a single count of wire fraud for allegedly misappropriating $2 million after informing clients that the funds would be invested in commodity futures. 

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FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations

Posted on May 17th, 2023 at 1:17 PM
FINRA Expels SW Financial and Suspends Chief Executive Officer For Reg BI Violations

The Financial Industry Regulatory Authority (FINRA) has sanctioned a New York-based financial advisory firm, SW Financial, and its Chief Executive Officer for multiple violations of Regulation Best Interest (Reg BI).

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Financial Advisory Firms Seek to Prevent “Disharmony” on Large Teams

Posted on May 16th, 2023 at 1:26 PM
Financial Advisory Firms Seek to Prevent “Disharmony” on Large Teams

Financial advisory firms and company executives continue to promote organizing as a team, which supposedly creates an improved service model for clients.

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Federal Judge Reaffirms Injunctions Against Advisors Who Departed USI for Lockton

Posted on May 15th, 2023 at 11:48 AM
Federal Judge Reaffirms Injunctions Against Advisors Who Departed USI for Lockton

A federal judge has upheld and expanded an injunction against several former USI financial advisors who departed for Lockton.

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SEC Charges Two Texas Advisors Over $155 Million Fraudulent Oil & Gas Offering

Posted on May 12th, 2023 at 1:14 PM
SEC Charges Two Texas Advisors Over $155 Million Fraudulent Oil & Gas Offering

The Securities and Exchange Commission (SEC) has charged Roy Hill and Eric Shelly along with two entities under their ownership, Clean Energy Technology Association (CETA) and Freedom Impact Consulting (FIC), for allegedly organizing a fraudulent offering that raised nearly $155 million from at least 500 investors. 

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Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women

Posted on May 11th, 2023 at 1:21 PM
Goldman Sachs Pays $215 Million To Settle Class-Action Suit on Underpaying Women

Goldman Sachs has agreed to pay $215 million to settle a class-action lawsuit that accused the company of systemically underpaying female employees.

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U.S. Government To Investigate Goldman’s Role in Failed SVB Deal

Posted on May 9th, 2023 at 1:07 PM
U.S. Government To Investigate Goldman’s Role in Failed SVB Deal

U.S. governmental agencies are set to investigate Goldman Sachs’ role in Silicon Valley Bank’s (SVB’s) last-ditched effort to raise funds in March.

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LATEST NEWS AND ARTICLES

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September 15, 2026
FINRA Suspends Former Northwestern Mutual Broker Over Customer Loans

The Financial industry Regulatory Authority (FINRA) has suspended and fined a former Northwestern Mutual broker after he solicited two customers for loans to purchase another representative's book of business but instead used most of the money to pay personal expenses and other debt, according to an Acceptance, Waiver, and Consent (AWC) letter.<...

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September 14, 2026
SEC Considers Expanding Retail Access to Private Markets

The Securities and Exchange Commission (SEC) is considering a proposal that could expand retail investors' access to private markets and allow investment advisers to charge performance fees to a broader group of clients.

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The Securities and Exchange (SEC) Chairman Paul S.