Tagged with "Financial Counsel"

Illinois Investment Firm Owner Sentenced to Five Years for Ponzi-Scheme

Posted on November 14th, 2016 at 9:59 AM
Illinois Investment Firm Owner Sentenced to Five Years for Ponzi-Scheme

Stephen C. Browere, 57, of Geneva, Illinois, has been sentenced to five years in federal prison for using client money to purchase luxury items and to trade his own stock.

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Stockbroker Pleads Guilty in Securities Fraud

Posted on November 12th, 2016 at 9:00 AM
Stockbroker Pleads Guilty in Securities Fraud

A Boca Raton, Florida stockbroker named Gerald Cocuzzo who worked at Newbridge Securities Corporation, has pled guilty to participating in a $131 million securities fraud and could face up to 20 years in prison. 

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Fiduciary Rule in Jeopardy Under Trump

Posted on November 11th, 2016 at 9:14 AM
Fiduciary Rule in Jeopardy Under Trump

Could President-elect Trump put a halt to the Department of Labor’s fiduciary regulation?

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Six Ohio Residents Defrauded Investors

Posted on November 10th, 2016 at 9:08 AM
Six Ohio Residents Defrauded Investors

The owners of KGTA Petroleum, Ltd, Kenneth Grant of Copley, Ohio and Thomas Abdallah of Brunswick, Ohio, were sentenced to prison for their roles in a conspiracy to defraud about 70 investors out of approximately $17 million from 2010 to 2014. 

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Three Advisers in Hot Water with the CFP Board

Posted on November 9th, 2016 at 9:51 AM
     Three Advisers in Hot Water with the CFP Board

The CFP Board found that adviser Charles Zsarnay of Toledo, Ohio,allegedly copied certain individual drivers’ licenses in violation of Ohio law and failed to promptly disclose to his firm that he had been charged with a felony. 

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Ex-JPMorgan Broker Wins Defamation Claim

Posted on November 3rd, 2016 at 9:35 AM
Ex-JPMorgan Broker Wins Defamation Claim

FINRA has ordered J.P. Morgan to pay a former registered representative $295,563 in compensatory damages. 

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Former Investment Adviser Firm and CIO Settle SEC Charges

Posted on November 2nd, 2016 at 9:02 AM
Former Investment Adviser Firm and CIO Settle SEC Charges

The Securities and Exchange Commission has settled charges against Moloney Securities Company, Inc. and its CIO Joseph Ronald Medley, Jr. because of several compliance and disclosure issues. 

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SEC Hits Troubled Texas REIT with Wells Notice

Posted on October 28th, 2016 at 9:08 AM
SEC Hits Troubled Texas REIT with Wells Notice

The Securities and Exchange Commission has issued a Wells notice against troubled Texas real estate investment trust United Development Funding IV (UDF IV) as well as certain individuals associated with the REIT. 

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FINRA Suspends Ex-Morgan Stanley Client Administrator

Posted on October 26th, 2016 at 9:16 AM
FINRA Suspends Ex-Morgan Stanley Client Administrator

FINRA has fined and suspended a former Client Service Administrator (CSA) at Morgan Stanley for fraudulently transferring money from a client's account to third party bank accounts and for falsifying records. 

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Merrill Moves to End Commission IRAs

Posted on October 25th, 2016 at 8:56 AM
Merrill Moves to End Commission IRAs

In response to the Department of Labor’s fiduciary rule, which is set to begin on April 10, 2017,  Merrill Lynch has decided to end its commission IRA business.  

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If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Eccleston Law.

Rick R.

LATEST NEWS AND ARTICLES

September 23, 2022
CFP Board Lifts Interim Suspension of Former UBS Advisor

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

September 22, 2022
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

September 21, 2022
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy.