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Tagged with "eccleston"

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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Prospect BDC Releases Going Concern Warning

Posted on February 28th, 2023 at 2:27 PM
Prospect BDC Releases Going Concern Warning

Prospect Floating Rate and Alternative Income Fund Inc. (“Prospect”) announced in its most recent quarterly report submitted to the Securities and Exchange Commission (SEC) that “there is substantial doubt about the company’s ability to continue as a going concern” for at least one year after February 13, 2023. 

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SEC Examiners to Target Complex Products, Annuities, Non-Traded REITs in Reg BI Investigations

Posted on February 27th, 2023 at 3:26 PM
SEC Examiners to Target Complex Products, Annuities, Non-Traded REITs in Reg BI Investigations

The Securities and Exchange Commission’s (SEC’s) Examinations Division will target advisors’ recommendations of complex derivatives and leveraged ETFs, as well as annuities and nontraded REITs in Regulation Best Interest (Reg BI) investigations in 2023. 

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Former Edward Jones Advisor Prevails in TRO Dispute After Joining Ameriprise

Posted on February 24th, 2023 at 10:42 AM
Former Edward Jones Advisor Prevails in TRO Dispute After Joining Ameriprise

A federal judge has denied Edward Jones’ request to restrict an Illinois-based advisor from contacting his former clients after departing for Ameriprise. 

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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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