Tagged with "Jim Eccleston"

FINRA Continues to Curb Variable Annuity Misconduct

Posted on October 13th, 2017 at 9:34 AM
FINRA Continues to Curb Variable Annuity Misconduct

FINRA’s efforts to curb variable annuity abuse have led to an increase in fines and an increase in the number of cases brought against advisors by FINRA Enforcement.

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New York Fund Manager Charged with Running a $19 Million Ponzi Scheme

Posted on October 11th, 2017 at 10:49 AM
New York Fund Manager Charged with Running a $19 Million Ponzi Scheme

New York hedge fund manager, Michael Scronic has been criminally charged with one count of securities fraud and one count of wire fraud for allegedly stealing $19 million from 45 investors.

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SEC Charges Barred Broker for Orchestrating Real Estate Scam

Posted on October 6th, 2017 at 9:54 AM
SEC Charges Barred Broker for Orchestrating Real Estate Scam

Former broker Leonard Vincent Lombardo of Long Island, New York, along with his company and business partner, has agreed to settle charges with the SEC for perpetrating an alleged real estate investment scam.

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LPL Financial Purchases Independent Broker-Dealer National Planning Holdings

Posted on October 5th, 2017 at 11:30 AM
LPL Financial Purchases Independent Broker-Dealer National Planning Holdings

LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc., has acquired the independent broker-dealer network of National Planning Holdings, Inc. ("NPH") for an initial purchase price of $325 million. 

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Federal Judge Grants Class Certification in ERISA Suit Against Deutsche Bank

Posted on October 4th, 2017 at 10:15 AM
Federal Judge Grants Class Certification in ERISA Suit Against Deutsche Bank

A New York federal judge has granted class certification for an Employee Retirement Income Security Act (ERISA) case involving all participants of a Deutsche Bank Americas Holding Corp. 401(k) plan whose individual accounts suffered losses.  

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SEC Settles Lawsuit with Texas Resident Accused of Running an Investment Scam

Posted on September 29th, 2017 at 9:08 AM
 SEC Settles Lawsuit with Texas Resident Accused of Running an Investment Scam

The SEC has settled a lawsuit with Texas resident, James G. Temme along with his company, Stewardship Fund LP allegedly for operating a $25 million fraudulent investment scheme with 100 different individual investors.

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LPL Implements New Policy to Put Pressure on Affiliates to Recruit Advisers to its Corporate Registered Investment Adviser

Posted on September 27th, 2017 at 10:12 AM
LPL Implements New Policy to Put Pressure on Affiliates to Recruit Advisers to its Corporate Registered Investment Adviser

LPL Financial has announced in a memo that it is instituting a new policy which will affect advisers who want to use outside RIAs instead of LPL’s corporate RIA.

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New Jersey Adviser Accused of Running a Ponzi Scheme to Fund Gambling Habit

Posted on September 25th, 2017 at 3:39 PM
New Jersey Adviser Accused of Running a Ponzi Scheme to Fund Gambling Habit

The SEC has filed a lawsuit against adviser Scott Newsholme of Farmingdale, New Jersey for allegedly defrauding elderly clients in a $1 million Ponzi-like scheme.

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California Federal Judge Grants Wells Fargo Employees Class Certification in Expense Reimbursement Suit

Posted on September 22nd, 2017 at 9:10 AM
California Federal Judge Grants Wells Fargo Employees Class Certification in Expense Reimbursement Suit

A federal judge in the U.S. District Court for the Northern District of California has asserted that he will grant certification to a class of more than 2,100 Wells Fargo home mortgage consultants and private mortgage bankers who allegedly were not reimbursed by the firm for business expenses in violation of the California Labor Code.

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SEC Obtains Emergency Court Order to Freeze Assets of a Former LPL Adviser

Posted on September 20th, 2017 at 10:56 AM
SEC Obtains Emergency Court Order to Freeze Assets of a Former LPL Adviser

The United States District Court for the District of Colorado has issued an emergency court order to freeze all assets of former LPL adviser, Sonya Camarco along with her investment companies, Camarco Investments Inc. and Camarco Living Trust.

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LATEST NEWS AND ARTICLES

June 30, 2022
FINRA Fines United Planners Over GPB Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has fined United Planners’ Financial Services of America over negligent sales of private placements issued by GPB Capital Holdings.

June 29, 2022
J.P. Morgan Advisors Ordered To Pay Former Partner $620,000

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered a J.P. Morgan team to pay their former partner at least $620,000 over the dissolution of a partnership.

June 28, 2022
JP Morgan Manager Reveals Issues Regarding ESG Loan Pitches

The market for sustainability-linked loans is still severely prone to “greenwashing”, or investing more time and effort into marketing itself as environmentally friendly rather than actually minimizing its environmental impact, according to one of J.P. Morgan’s managers who often helps to sort through debt that is pitched to the company.