Tagged with "Jim Eccleston"

FINRA Manages to Attain Positive Net Income in 2016 Due to Increased Fines

Posted on July 12th, 2017 at 10:00 AM
FINRA Manages to Attain Positive Net Income in 2016 Due to Increased Fines

According to FINRA’s annual financial report, the SRO’s increase in fines in 2016 allowed for it to attain a positive net income.

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Adviser Defrauds Clients of $10M by Blaming Losses on the 2016 Election, Brexit and Falling Oil Prices

Posted on July 11th, 2017 at 10:30 AM
Adviser Defrauds Clients of $10M by Blaming Losses on the 2016 Election, Brexit and Falling Oil Prices

New York Attorney General Eric Schneiderman has filed a complaint against adviser Dean Mustaphalli, accusing him of defrauding his clients out of millions. 

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Unregistered Broker Pleads Guilty to Federal Criminal Charges for Securities Fraud

Posted on July 7th, 2017 at 12:25 PM
Unregistered Broker Pleads Guilty to Federal Criminal Charges for Securities Fraud

The United States District Court for the District of New Jersey has entered a judgment against unregistered broker, James R. Trolice.

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FINRA, SEC and FINCEN to Investigate Broker-Dealer Aegis Capital

Posted on July 6th, 2017 at 11:56 AM
FINRA, SEC and FINCEN to Investigate Broker-Dealer Aegis Capital

According to a filing by the SEC, Aegis Capital Corp., a mid-sized broker-dealer based in New York City with 415 registered reps, is being investigated by the SEC, FINRA and the Treasury Department's Financial Crimes Enforcement Network (FINCEN).

 

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Ameriprise Seeks to Quicken Collection Proceedings on Promissory Notes

Posted on July 3rd, 2017 at 10:02 AM
Ameriprise Seeks to Quicken Collection Proceedings on Promissory Notes

Brokerage firms continually attempt to modify their forgivable loan agreements in order to gain an advantage over reps who elect not to pay their promissory note balances when they leave the firm.

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SEC Stops Fraudulent Mortgage Ponzi Scheme

Posted on June 30th, 2017 at 10:30 AM
SEC Stops Fraudulent Mortgage Ponzi Scheme

The SEC filed an emergency action to stop Texas resident Thurman P. Bryant, III and his company, Bryant United Capital Funding, Inc. (BUCF) from allegedly conducting a Ponzi scheme.

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MLPs and Technology Funds Could Do Well Under President Trump’s Tax Plan

Posted on June 28th, 2017 at 9:35 AM
 MLPs and Technology Funds Could Do Well Under President Trump’s Tax Plan

On April 26th, the Trump administration issued a one-page memo on its new tax plan.

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Plan Participant Sues Capital Group for Self-Dealing in its 401(k) Plan

Posted on June 27th, 2017 at 9:28 AM
Plan Participant Sues Capital Group for Self-Dealing in its 401(k) Plan

A plan participant has sued Capital Group Companies Inc. for allegedly reaping profits from its 401(k) plan by loading its company retirement plan with high-cost proprietary investment options.

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Brokers Must Proceed With Caution When Going Independent

Posted on June 23rd, 2017 at 9:22 AM
Brokers Must Proceed With Caution When Going Independent

Bob Veres, a columnist for Financing Planning, has published an article which outlines issues for brokers to consider when deciding to go independent.  

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The CFP Board Proposes a New Fiduciary Standard Requirement for CFPs

Posted on June 22nd, 2017 at 9:55 AM
The CFP Board Proposes a New Fiduciary Standard Requirement for CFPs

The Certified Financial Planner Board of Standards, Inc. would require CFPs to adhere to a fiduciary standard at all times pursuant to a new ethics code proposed.

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LATEST NEWS AND ARTICLES

May 17, 2024
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

May 16, 2024
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.

 

May 15, 2024
NFA Issues Order Against 50.ai Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.