Tagged with "Texas"

Morgan Stanley Loses Temporary Restraining Order Aiming to Stop Former Investment Brokers from Soliciting Clients

Posted on March 27th, 2019 at 9:28 AM
Morgan Stanley Loses Temporary Restraining Order Aiming to Stop Former Investment Brokers from Soliciting Clients

A Texas judge has denied a temporary restraining order (TRO) filed by Morgan Stanley to prevent two Dallas, Texas-based investment advisers, who left the firm, from soliciting their former clients at their new firm, an independent broker-dealer.

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SEC Charges Three Texas Businessmen with Orchestrating $45 Million Real Estate Investment Fraud

Posted on January 30th, 2019 at 4:22 PM
SEC Charges Three Texas Businessmen with Orchestrating $45 Million Real Estate Investment Fraud

The SEC has charged Texas real estate developer Philip Michael Carter, investment manager Bobby Eugene Guess and his employee Richard Tilford with persuading hundreds of individuals to invest in real estate development companies and then using their funds to pay for personal expenses.

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Texas Investment Adviser Files a $100 Million Defamation Lawsuit Against Charles Schwab

Posted on August 7th, 2018 at 5:03 PM
Texas Investment Adviser Files a $100 Million Defamation Lawsuit Against Charles Schwab

A Texas investment adviser and his firm have filed a $100 million defamation lawsuit in the Eastern District of Texas against Charles Schwab Corp. claiming that the firm poached his clients after terminating him over a false story.

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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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CFP Board Imposes Suspension of Texas Adviser Accused of Fraudulently Diverting Client Funds

Posted on September 13th, 2017 at 10:33 AM
CFP Board Imposes Suspension of Texas Adviser Accused of Fraudulently Diverting Client Funds

The CFP Board has suspended Houston, Texas native, Lawrence A. DeShetler after the registered investment adviser failed to respond to a CFP show-cause order.

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FINRA Expels Red River Securities

Posted on February 16th, 2017 at 9:21 AM
FINRA Expels Red River Securities

Red River Securities, a Plano, Texas-based broker-dealer, has been expelled from FINRA for fraudulent sales in five oil and gas joint ventures. 

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Barclays Loses Big Producers to Merril

Posted on September 11th, 2015 at 2:22 PM
Barclays Loses Big Producers to Merril

A Texas based broker-dealer, WFG Investments, has been fined by Texas Securities Commissioner John Morgan for failing to determine whether the sales of alternative investments exposed clients to excessive risks.

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LATEST NEWS AND ARTICLES

September 23, 2022
CFP Board Lifts Interim Suspension of Former UBS Advisor

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

September 22, 2022
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

September 21, 2022
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy.