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Tagged with "eccleston"

FINRA Penalizes Center Street Securities Over Improper GPB Private Placement Sales

Posted on January 11th, 2023 at 1:41 PM
FINRA Penalizes Center Street Securities Over Improper GPB Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has imposed a fine on Center Street Securities after the financial advisory firm improperly sold GPB private placements. 

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FINRA Penalizes Morgan Stanley For Shortchanging Clients $800,000 In Fund Fee Rebates

Posted on January 10th, 2023 at 1:08 PM
FINRA Penalizes Morgan Stanley For Shortchanging Clients $800,000 In Fund Fee Rebates

Morgan Stanley has agreed to pay $802,000 in restitution to clients after a Financial Industry Regulatory Authority (FINRA) investigation found that the firm’s supervisory system had shortchanged some clients on mutual fund fee rebates between 2015 and 2021.

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Law Firms Investigate Potential Claims Against Silvergate Capital on Behalf of FTX Customers

Posted on January 9th, 2023 at 3:01 PM
Law Firms Investigate Potential Claims Against Silvergate Capital on Behalf of FTX Customers

Law firms are investigating potential claims against Silvergate Capital on behalf of FTX customers who wired fiat currency to Alameda Research.

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FINRA Settles With Coastal Equities Over Improper GPB Private Placement Sales

Posted on January 6th, 2023 at 12:54 PM
FINRA Settles With Coastal Equities Over Improper GPB Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has agreed to a $418,000 settlement with Coastal Equities over sales in 2018 of GPB private placements. 

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GWG Bondholders Prepare To File Suit Against Financial Advisory Firms and Executives

Posted on January 5th, 2023 at 10:36 AM
GWG Bondholders Prepare To File Suit Against Financial Advisory Firms and Executives

A group representing nearly 27,000 retail investors is set to file suit against GWG Holdings’ executives as well as the financial advisory firms that marketed and sold $1.6 billion worth of GWG L bonds, according to a recent bankruptcy court filing in Houston. 

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GWG Obtains Debtor-In-Possession Loan

Posted on January 4th, 2023 at 2:08 PM
GWG Obtains Debtor-In-Possession Loan

GWG Holdings has obtained a super-priority secured debtor-in possession loan and guaranty agreement to receive money to fund the company’s operations amidst bankruptcy proceedings, according to a filing with the Securities and Exchange Commission (SEC).

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FINRA Alters Remote Inspection Proposal to Satisfy Critics

Posted on January 3rd, 2023 at 1:02 PM
FINRA Alters Remote Inspection Proposal to Satisfy Critics

The Financial Industry Regulatory Authority (FINRA) has amended its proposal to permit financial advisory firms to conduct their internal inspections remotely beyond year-end 2023 to satisfy state regulators and investor advocates. 

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FINRA Fines Edward Jones $1.1 Million For Mishandling Phone Records

Posted on January 2nd, 2023 at 3:01 PM
FINRA Fines Edward Jones $1.1 Million For Mishandling Phone Records

The Financial Industry Regulatory Authority (FINRA) has issued a $1.1 million fine to Edward Jones for allegedly mishandling phone records that FINRA was seeking. 

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FINRA Fines LPL $150,000 For Failing to Detect Advisor’s Ponzi Scheme

Posted on December 21st, 2022 at 1:33 PM
FINRA Fines LPL $150,000 For Failing to Detect Advisor’s Ponzi Scheme

The Financial Industry Regulatory Authority (FINRA) has fined LPL Financial $150,000 for failing to adequately supervise an advisor who later was found to have perpetuated a Ponzi scheme. 

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SEC Alerts Financial Advisory Firms to Their Failure to Protect Clients From Identity Theft

Posted on December 20th, 2022 at 1:15 PM
SEC Alerts Financial Advisory Firms to Their Failure to Protect Clients From Identity Theft

Financial advisory firms are failing to design and maintain effective policies and procedures to restrict hackers from stealing clients’ personal and confidential information, according to a risk alert published by the Securities and Exchange Commission (SEC).

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Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. They are the best.

Thomas C.

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FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.