Tagged with "law"

Merrill to Discontinue 3% Withholding on Financial Advisor Pay

Posted on November 7th, 2022 at 1:16 PM
Merrill to Discontinue 3% Withholding on Financial Advisor Pay

Merrill Lynch has announced plans to discontinue a 2019 pay cut program in a rare concession to its sales force amidst a period of elevated attrition, according to AdvisorHub sources.

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SEC Bars California Advisor For Fraud

Posted on November 3rd, 2022 at 3:22 PM
SEC Bars California Advisor For Fraud

The Securities and Exchange Commission (SEC) has barred a California-based financial advisor and his firm for engaging in fraud. 

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FINRA Orders Raymond James to Pay $1.1 Million For Overcharges and Supervisory Failures

Posted on November 2nd, 2022 at 3:11 PM
FINRA Orders Raymond James to Pay $1.1 Million For Overcharges and Supervisory Failures

The Financial Industry Regulatory Authority (FINRA) has ordered Raymond James to pay at least $1.1 million over supervisory failures that resulted in excessive commissions charged to clients as well as unauthorized changes to account designations on trades. 

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Regulators Report Surges In Investment Scams Targeting The Elderly

Posted on November 1st, 2022 at 1:14 PM
Regulators Report Surges In Investment Scams Targeting The Elderly

The Federal Trade Commission (FTC) has announced that older investors lost $147 million due to investment scams in 2021, which constitutes a massive 213% increase from 2020.

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FINRA Fines Janney Over Compliance Failures Related to Two Advisors

Posted on October 31st, 2022 at 11:41 AM
FINRA Fines Janney Over Compliance Failures Related to Two Advisors

The Financial Industry Regulatory Authority (FINRA) has fined Janney Montgomery Scott, a regional financial advisory firm, $245,000 due to compliance failures that permitted two advisors to over-concentrate 11 clients in energy equities.

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SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme

Posted on October 28th, 2022 at 11:38 AM
SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme

The Securities and Exchange Commission (SEC) has charged Crew Capital Group and the estate of Stephen Swensen, who was formerly a financial advisor, for orchestrating a fraudulent investment scheme that generated nearly $29 million from at least 50 investors between 2011 and 2022. 

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SEC Probes Financial Advisory Firms’ Use of WhatsApp and Other Messaging Platforms

Posted on October 27th, 2022 at 2:51 PM
SEC Probes Financial Advisory Firms’ Use of WhatsApp and Other Messaging Platforms

The Securities and Exchange Commission (SEC) is investing whether financial advisory firms used WhatsApp or other outside messaging platforms to communicate with clients.

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FINRA Imposes First Fine For Reg BI Violation

Posted on October 26th, 2022 at 1:53 PM
FINRA Imposes First Fine For Reg BI Violation

The Financial Industry Regulatory Authority (FINRA) has issued a six-month suspension and a $5,000 fine to a former financial advisor in the regulator’s first disciplinary action related to Regulation Best Interest (Reg BI). 

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FINRA Fines UBS and Barclays Capital Over Trading Violations

Posted on October 25th, 2022 at 1:59 PM
FINRA Fines UBS and Barclays Capital Over Trading Violations

The Financial Industry Regulatory Authority (FINRA) has fined UBS Securities $2.5 million for violating a rule regarding a common problem known as a “failure to deliver”, which could lead to the potential sale of securities that an investor does not own or has not borrowed. 

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SEC Charges Florida Man and French National with $40 Million Securities Fraud

Posted on October 24th, 2022 at 12:58 PM
SEC Charges Florida Man and French National with $40 Million Securities Fraud

The Securities and Exchange Commission (SEC) has charged a Florida-based real estate agent, Fernando Bastos, and a resident of France, Joao Fonseca, as well as four entities they owned for orchestrating an investment fraud.

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Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. They are the best.

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LATEST NEWS AND ARTICLES

March 16, 2026
Concorde Investment Services Faces Scrutiny Over Sales of Inspired Healthcare Private Investments

Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.

March 13, 2026
Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Federal prosecutors announced that investment adviser John A.

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Cape Coral Becomes Ground Zero for Private Lending Strains in Post-Pandemic Housing Market

Cape Coral, Florida, long a magnet for out-of-state real estate investors, now illustrates the growing risks of private lending in residential development.