Tagged with "Jim Eccleston"

Former Pennsylvania Advisor Sentenced to Prison for Running a $1.2 million Ponzi Scheme

Posted on November 3rd, 2017 at 3:26 PM
Former Pennsylvania Advisor Sentenced to Prison for Running a $1.2 million Ponzi Scheme

Former Edward Jones financial advisor, Bernard Parker was sentenced to 87 months in federal prison for running a six-year $1.2 million Ponzi scheme. 

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Morgan Stanley Drops Out of the Protocol for Broker Recruiting

Posted on November 3rd, 2017 at 3:24 PM
 Morgan Stanley Drops Out of the Protocol for Broker Recruiting

Morgan Stanley has announced that it has pulled out of the Protocol for Broker Recruiting (“Protocol”) and thereafter any broker moving to another firm will be subject to its one-year non-solicitation agreement.

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A Special Message to Morgan Stanley Financial Advisors Considering a Transition

Posted on November 1st, 2017 at 1:08 PM
A Special Message to Morgan Stanley Financial Advisors Considering a Transition

As you know, your firm has withdrawn as a member of the Protocol for Broker Recruiting. Now what are your rights?

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Wells Fargo Files Lawsuit against Former Broker for Contacting Former Customers

Posted on October 27th, 2017 at 12:10 PM
Wells Fargo Files Lawsuit against Former Broker for Contacting Former Customers

Wells Fargo Advisors has filed a lawsuit against former broker, Robert D. Meyers and his son, Mathew Meyers in order to prevent them from contacting former customers in an effort to recruit them to their new registered investment adviser firm in Columbus, Ohio.

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SEC Bars Portfolio Manager for Diverting Nearly $2 Million to Personal Account

Posted on October 26th, 2017 at 11:00 AM
SEC Bars Portfolio Manager for Diverting Nearly $2 Million to Personal Account

The SEC has barred Massachusetts portfolio manager, Kevin J. Amell for allegedly diverting at least $1.95 million to his personal brokerage account from a fund over which he had trading authority for his clients.

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State-Registered Advisers Find Discrepancies Between States on Fee Model Regulation

Posted on October 25th, 2017 at 10:04 AM
State-Registered Advisers Find Discrepancies Between States on Fee Model Regulation

According to financial industry experts, new financial advisers are having difficulty navigating the discrepancies between states in terms of the way regulators are allowing them to charge their clients’ fees for services.

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SEC Urges Texas Federal Court to Order Two Oil and Gas Companies to Disgorge $17 Million

Posted on October 20th, 2017 at 9:26 AM
SEC Urges Texas Federal Court to Order Two Oil and Gas Companies to Disgorge $17 Million

The SEC has asked a Texas federal court to order two California companies, Team Resources, Inc. and Fossil Energy Corp. to disgorge $17 million of the proceeds of an alleged fraudulent scheme.

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SEC Announces $1 Million Whistleblower Award

Posted on October 19th, 2017 at 10:45 AM
SEC Announces $1 Million Whistleblower Award

The SEC has awarded a whistleblower $1 million for reporting information that helped the agency successfully prosecute a registered entity that harmed retail customers.

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Wells Fargo Ordered to Pay FINRA $3.4M in Restitution for Selling Unsuitable ETPs

Posted on October 18th, 2017 at 10:23 AM
Wells Fargo Ordered to Pay FINRA $3.4M in Restitution for Selling Unsuitable ETPs

FINRA has fined Wells Fargo Clearing Services LLC and Wells Fargo Advisors more than $3.4 million in restitution for selling customers “unsuitable” exchange-traded products (ETPs) and for its failure to supervise reps.

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Former Investment Adviser Indicated for Defrauding Massachusetts Retirees

Posted on October 17th, 2017 at 1:03 PM
Former Investment Adviser Indicated for Defrauding Massachusetts Retirees

Former investment adviser, Richard G. Cody, of Jacksonville, Florida has been indicted for allegedly defrauding Massachusetts retirees, as well as for lying to the SEC under oath.

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LATEST NEWS AND ARTICLES

December 3, 2021
FINRA Issues Fine to Small Advisory Firm Over Material Misrepresentations

The Financial Industry Regulatory Authority has censured and issued a $250,000 fine to a Los Angeles-based advisory firm, WestPark Capital Inc., for making material misrepresentations pertaining to promissory notes offered by its parent company.

December 2, 2021
FINRA Imposes Suspension on Ohio-Based Advisor Over Outside Investments

The Financial Industry Regulatory Authority (FINRA) has issued a one-year suspension and $12,500 fine to an Ohio-based advisor, William LeBoeuf, who worked at Merrill Lynch and Cetera Advisor Networks when the violations occurred.

December 1, 2021
SEC Charges Former Illinois Edward Jones Advisor With Fraud

The Securities and Exchange Commission (SEC) has charged a former Illinois-based investment advisor, Ronald Molo, with defrauding three clients out of at least $800,000.