Tagged with "SEC"

SEC Doubles Size of Crypto Assets and Cyber Enforcement Unit

Posted on May 6th, 2022 at 1:10 PM
SEC Doubles Size of Crypto Assets and Cyber Enforcement Unit

The Securities and Exchange Commission (SEC) has added 20 new positions to the enforcement unit responsible for protecting investors in crypto markets and from cyber-related threats. 

 
 

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GWG Blames SEC Investigation Of Sales Practices For Its Collapse

Posted on May 3rd, 2022 at 1:39 PM
GWG Blames SEC Investigation Of Sales Practices For Its Collapse

In its Chapter 11 bankruptcy filings, GWG has criticized the Securities and Exchange Commission’s (SEC’s) investigation of broker-dealers that sold at least $1.6 billion of its life-settlement backed bonds as a major reason for the firm’s collapse, including GWG’s defaulting on $13.6 million in payments to bondholders.

 
 

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SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme

Posted on April 27th, 2022 at 1:05 PM
SEC Accuses Former Morgan Stanley Advisor of Conducting a Ponzi Scheme

The Securities and Exchange Commission (SEC) has accused a former Morgan Stanley advisor of using client funds to cover personal expenses including a Tesla vehicle, credit card bills and cash transfers.

 
 

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Former UBS Advisor Pleads Guilty to Spending Client Funds on Girlfriends’ Gifts

Posted on April 26th, 2022 at 11:49 AM
Former UBS Advisor Pleads Guilty to Spending Client Funds on Girlfriends’ Gifts

A former UBS advisor has pleaded guilty to misappropriating $5.8 million in client funds primarily to cover gifts for girlfriends, according to the Securities and Exchange Commission (SEC).

 
 

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SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme

Posted on April 25th, 2022 at 12:21 PM
SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has charged and obtained an asset freeze against numerous Las Vegas-based individuals and entities for allegedly operating a $450 million Ponzi scheme involving purported personal injury settlements.

 
 

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Unregistered Advisors Perpetrate Scheme While Concealing Disciplinary Histories

Posted on April 22nd, 2022 at 1:48 PM
Unregistered Advisors Perpetrate Scheme While Concealing Disciplinary Histories

The Securities and Exchange Commission (SEC) has filed suit against two unregistered advisors for hiding their disciplinary records from investors while engaging in a scheme that generated at least $9 million.

 
 

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GWG Holdings Announces Chapter 11 Bankruptcy

Posted on April 21st, 2022 at 12:10 PM
GWG Holdings Announces Chapter 11 Bankruptcy

GWG Holdings has filed for Chapter 11 bankruptcy. Its woes have included failing to submit its 2021 yearly report to the SEC in April because the firm has yet to employ a new auditor.

 
 

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SEC Charges Four Individuals Involved In Fraudulent Scheme Targeting Retirees

Posted on April 15th, 2022 at 1:13 PM
SEC Charges Four Individuals Involved In Fraudulent Scheme Targeting Retirees

The Securities and Exchange Commission (SEC) has charged Julie Minuskin, Dennis DiRicco, Tom Casey and Golden Genesis, Inc. with defrauding investors with their sales of high-yield promissory notes primarily to retirees.

 
 

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SEC Bars Advisor Over 1 Global Capital Sales

Posted on April 6th, 2022 at 2:20 PM
SEC Bars Advisor Over 1 Global Capital Sales

The Securities and Exchange Commission (SEC) has barred an advisor as well as his firm, which sold $37 million of an investment fraud, 1 Global Capital, between May 2017 and June 2018.

 
 

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FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

Posted on March 31st, 2022 at 1:30 PM
FINRA Bars Alpine Securities Over Allegations Over Misappropriation and Excessive Fees

The Financial Industry Regulatory Authority (FINRA) has barred a Salt Lake City-based advisory firm, Alpine Securities, from the industry and has ordered the firm to pay nearly $2.3 million in restitution.

 
 

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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

May 19, 2022
UBS Advisor Joins U.S. Capital After Contentious Compliance Review

A UBS Wealth Management advisor who generated $3 million in annual revenue has joined U.S. Capital Wealth Advisors, which is a regional Texas-based firm run by a former UBS manager.

 
 
May 18, 2022
Some Advisors Chose Inopportune Time To Boost Bet On GWG Bonds

Financial advisors who chose to double down on GWG are having second thoughts.

 
 
May 17, 2022
Focus Financial Board Member Sues J.P. Morgan Over $7 Million In Pandemic Losses

A California dermatologist, who also is a Focus Financial Partners board member, has filed a $7 million arbitration claim against J.P. Morgan over pandemic-related losses in a managed account.