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Tagged with "eccleston"

Stifel Files Suit Against Indiana Advisory Firm Co-Led by Former Vice President’s Brother

Posted on March 14th, 2023 at 4:22 PM
Stifel Files Suit Against Indiana Advisory Firm Co-Led by Former Vice President’s Brother

Stifel, Nicolaus & Co. has filed suit against one of its largest teams that is co-led by a brother of former Vice President Mike Pence for allegedly staging a “coup” when the team departed in favor of launching their own financial advisory firm, according to the complaint. 

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Illinois and Georgia Become Newest States to Adopt Best Interest Annuity Rules

Posted on March 13th, 2023 at 4:40 PM
Illinois and Georgia Become Newest States to Adopt Best Interest Annuity Rules

Illinois and Georgia have become the 32nd and 33rd states to adopt rules mandating a best interest standard for annuity sales and recommendations following a model created by the National Association of Insurance Commissioners (NAIC). 

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Oil Entrepreneur Sues Wells Fargo and LPL For Mismanaging Securities-Based Loan Strategy

Posted on March 10th, 2023 at 2:22 PM
Oil Entrepreneur Sues Wells Fargo and LPL For Mismanaging Securities-Based Loan Strategy

An oil refinery entrepreneur has filed suit against Wells Fargo Advisors and LPL Financial alleging that his advisor overleveraged his account with a $5 million securities-based loan as part of a strategy that failed amidst the Covid-19 pandemic.

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FINRA Bars High-Producing Beverly Hills Advisor

Posted on March 9th, 2023 at 5:40 PM
FINRA Bars High-Producing Beverly Hills Advisor

The Financial Industry Regulatory Authority (FINRA) has barred a Beverly Hills-based advisor, Antoine Souma, who allegedly participated in a private securities transaction in violation of industry rules.

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SEC Charges NBA Hall of Famer Paul Pierce For Improperly Promoting Crypto Security

Posted on March 8th, 2023 at 4:20 PM
SEC Charges NBA Hall of Famer Paul Pierce For Improperly Promoting Crypto Security

The Securities and Exchange Commission (SEC) has charged NBA Hall of Famer Paul Pierce for promoting EMAX tokens, crypto securities sold by EthereumMax, on social media without disclosing the compensation he received from the company and for making misleading promotional statements regarding the tokens.

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KBS Growth & Income REIT Defaults on Commonwealth Building Loan

Posted on March 7th, 2023 at 3:03 PM
KBS Growth & Income REIT Defaults on Commonwealth Building Loan

KBS Growth & Income REIT Inc., a publicly registered non-traded real estate investment trust, announced that the company has defaulted on the Commonwealth Building mortgage loan after failing to repay outstanding debt that was due on February 1, 2023, according to a filing with the Securities and Exchange Commission (SEC). 

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Hightower Fails To Stop Former Advisor From Establishing Competing Business

Posted on March 6th, 2023 at 3:03 PM

A former Alabama-based Hightower advisor has prevailed in court after the firm attempted to stop the advisor from establishing a competing firm. 

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FTX Investor Files Suit Against Sequoia Capital, Thoma Bravo, Paradigm

Posted on March 3rd, 2023 at 2:18 PM
FTX Investor Files Suit Against Sequoia Capital, Thoma Bravo, Paradigm

A cryptocurrency investor has filed suit against private equity firms including Sequoia Capital, Thoma Bravo, and Paradigm for improperly touting the legitimacy of FTX. 

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FINRA Finds Schwab Liable to Investor For Recommending Unsuitable Complex ETF

Posted on March 2nd, 2023 at 12:11 PM
FINRA Finds Schwab Liable to Investor For Recommending Unsuitable Complex ETF

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Charles Schwab to pay an investor and his designated beneficiary plan $144,000 in damages plus interest. 

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Morgan Stanley Ordered to Pay $7.8 Million Over Improper Hiring of Schwab Financial Advisors

Posted on March 1st, 2023 at 1:32 PM
Morgan Stanley Ordered to Pay $7.8 Million Over Improper Hiring of Schwab Financial Advisors

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $7.8 million after its improperly recruited two financial advisors from Charles Schwab in 2019. 

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