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SEC Bars Advisor for $24 Million Ponzi Scheme Targeting Elderly Investors

November 6th, 2024 at 1:33 PM
The Securities and Exchange Commission (SEC) has barred Paul Horton Smith, a California-based advisor, for orchestrating a $24 million Ponzi scheme that defrauded elderly and retired investors.
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LPL Financial Prepares for AML-Related SEC Settlement

November 5th, 2024 at 11:57 AM
LPL Financial has set aside $18 million in anticipation of settling an ongoing Securities and Exchange Commission (SEC) investigation into its anti-money laundering (AML) compliance program.
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Pershing Fined $1.4 Million for Inaccurate Interest Rate Reporting

November 4th, 2024 at 11:57 AM
Pershing has been fined $1.4 million by FINRA for disseminating account documents with inaccurate interest rate information.
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Former Advisor Barred by FINRA for Failing to Respond to Investigation

November 1st, 2024 at 8:51 AM
FINRA has permanently barred financial advisor Michael Charles Grande from working with any registered investment or advisory firms after he failed to cooperate with an investigation into his mutual fund recommendations. 
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FINRA Fines Osaic ÍøÆØ³Ô¹Ïalth and Securities America for Cybersecurity Failures

October 30th, 2024 at 11:01 AM
The Financial Industry Regulatory Authority (FINRA) has fined and censured independent broker-dealers Osaic ÍøÆØ³Ô¹Ïalth and Securities America for cybersecurity lapses that exposed the private information of over 32,000 customers.
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Massachusetts Court Grants Temporary Relief in Age Discrimination Suit Against Hightower

October 29th, 2024 at 10:42 AM
A Massachusetts court has granted Glenn Frank, a 69-year-old advisor suing Hightower for age discrimination, a preliminary victory by temporarily blocking Hightower from enforcing its non-solicitation covenants against him.
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ÍøÆØ³Ô¹Ïlls Fargo Ordered to Pay $1.44 Million to Former Florida Advisor

October 28th, 2024 at 2:26 PM
A FINRA arbitration panel has ordered ÍøÆØ³Ô¹Ïlls Fargo to pay $1.44 million in compensatory damages to Harry Pappas Jr., a former advisor based in Florida.
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SEC Fines Thrivent Investment Management for Red BI Violations

October 25th, 2024 at 1:27 PM
The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) in its investment recommendations to retail brokerage clients.
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FINRA Suspends Former LPL Advisor for Unapproved Business Activities

October 24th, 2024 at 11:40 AM
FINRA has suspended a former LPL Financial advisor for one month and fined her $5,000 for engaging in unapproved outside business activities related to property management services, according to a settlement agreement known as an AWC (Acceptance, Waiver, and Consent).
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Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

October 23rd, 2024 at 10:57 AM
A former Merrill Lynch advisor, John Rollin Revelle, has been suspended for 10 months and fined $7,500 by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized activities, including working for a cryptocurrency exchange and issuing misleading asset verification letters.
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As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

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LATEST NEWS AND ARTICLES

1783615970 Law
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FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

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July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

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July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.