Ronald “Ramone” Knight has agreed to be barred from association with any FINRA member firm in any capacity after FINRA found that he falsified expense reports.
Tagged with "James Eccleston"
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FINRA Proposes New Expungement Rules
Posted on February 17th, 2020 at 1:27 PM
FINRA has filed proposed rule amendments with the SEC seeking to update FINRA’s expungement arbitration code. Under FINRA’s current rules, a broker seeking expungement will pay a lower fee if they include a request for nominal damages. If nominal damages are requested along with an expungement, then the case is governed by the arbitration rules for cases seeking under $50,000 in damages. The filing fee for these cases can be as little as $50. Expungement cases with no damages requested are filed under the same rules as arbitration cases seeking more than $100,000 in damages, and carry a filing fee of $1,575.
Broker Who Sold Ponzi Scheme Investments Barred by FINRA
Posted on February 10th, 2020 at 12:42 PM
Kari Bracy, a broker who worked for NYLife Securities from 2009 until 2019, has agreed to a bar from the securities industry. On January 16, 2020, Bracy signed a letter of Acceptance, Waiver and Consent (“AWC”), agreeing to be barred from the securities industry for failing to appear for an on-the-record interview with FINRA.
Wells Fargo to pay $79M over advisor comp lawsuit
Posted on February 6th, 2020 at 5:14 PM
Wells Fargo doesn't expect any disruption to its advisor compensation program following a major class-action settlement led by a former advisor who sued to recover deferred compensation that he said the firm improperly withheld from him when he left to launch his own practice.
Michigan Man Barred from FINRA
Posted on February 3rd, 2020 at 4:58 PM
Jaime Michael Westenbarger has been barred from association with any FINRA member in all capacities. On October 2, 2019, Westenbarger signed a Letter of Acceptance, Waiver and Consent (“AWC”), in which he consented to the bar, without admitting or denying FINRA’s findings detailed in the AWC.
Raymond James Accused of Reverse Churning in Fee-Based Accounts
Posted on January 31st, 2020 at 5:11 PM
An investor has filed a putative class-action lawsuit against Raymond James Financial, accusing it of reverse churning by encouraging buy and hold customers to transition from commission trading accounts to fee-based advisory accounts without considering the suitability of recommendations.
LPL’s New Employee Model
Posted on January 31st, 2020 at 5:01 PM
LPL Financial is pushing its new employee affiliation model and other new channels in its continuing endeavor to add financial advisors and customer assets. LPL began marketing its “premium” channel to wirehouse reps in the fall. LPL is encouraged by the growing pipeline of interested advisors.
Why Citi’s robo is ‘late to the game’
Posted on January 31st, 2020 at 3:00 PM
Citigroup is the latest financial services firm to offer a digital advice platform designed to draw retail banking clients into lucrative wealth management relationships. However, the investment bank is behind competitors and the offering is priced well above the most attractive price points from competing firms.
James Eccleston Named Super Lawyer for 2020
Posted on January 28th, 2020 at 5:03 PM
We are pleased to announce that James Eccleston has been named a Super Lawyer for 2020 under the catergory of "Securities Litigation".
The Trappings of the 8210 Inquiry and Mistakes Advisors Make
Posted on January 28th, 2020 at 1:55 PM
FINRA Rule 8210[1], the Provision of Information and Testimony and Inspection and Copying of Books is an investigative tool FINRA uses to investigate potential violations of securities rules and regulations.
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