Search for: "Jim Eccleston"
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30 Jun 2016, 11:35 am
From the Desk of Jim Eccleston at Eccleston Law LLC:On June 28, The Securities and Exchange Commission proposed new requirements for registered investments advisers to adopt and implement written business continuity and transition plans. [read post]
29 Jun 2016, 3:25 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:On June 23, Bank of America Corporation though its brokerage firm Merrill Lynch agreed to pay a $415 million settlement award to the Securities and Exchange Commission. [read post]
28 Jun 2016, 1:43 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:FINRA has awarded Mark Schroeder, a doctor in St. [read post]
27 Jun 2016, 1:04 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:Risk is the possibility that a negative financial outcome that matters to you might occur. [read post]
23 Jun 2016, 2:32 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:A federal judge ordered actor Leonardo DiCaprio to be deposed because of his role in the Academy Award nominated film “The Wolf of Wall Street. [read post]
20 Jun 2016, 9:27 am
From the Desk of Jim Eccleston at Eccleston Law LLC:Without admitting or denying allegations, Oppenheimer & Co. agreed to pay $2.25 million to FINRA for the unsuitable sales of non-traditional ETFs and the consequential supervisory failures in addition to $716,000 in restitution to the affected clients.FINRA reports that it communicated with industry broker-dealers, including Oppenheimer, in 2009, informing them about the risks and complexities of non-traditional ETFs.… [read post]
17 Jun 2016, 12:52 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:In an effort to better protect investors and the market for securities in Massachusetts, Commonwealth Secretary William Galvin requested information from 241 brokerage firms in order to keep “rogue” brokers out of his state.Galvin sent letters to the 241 firms in his state in which more than 15% of the current representatives have one or more current disclosure on their record. [read post]
16 Jun 2016, 11:56 am
From the Desk of Jim Eccleston at Eccleston Law LLC:Under the guise of serving professional athletes, an adviser defrauded his investors out of $11.5 million by diverting their funds to his real estate ventures, according to a settled SEC complaint.The founder of Davis Financial and Davis Capital Group, Richard W. [read post]
15 Jun 2016, 7:44 am
From the Desk of Jim Eccleston at Eccleston Law LLC:In May, 2015, the Supreme Court ruled in Tibble v. [read post]
14 Jun 2016, 2:36 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:On May 23, 2016 FINRA introduced a Cybersecurity Checklist to “assist small firms in establishing a cybersecurity program to identity and assess cybersecurity threats, protect assets from cyber intrusions, detect when their systems and assets have been compromised, plan for the response when a compromise occurs and implement a plan to recover lost, stolen or unavailable assets. [read post]
10 Jun 2016, 10:37 am
From the Desk of Jim Eccleston at Eccleston Law LLC:On May 20, 2016 the Securities and Exchange Commission announced an award of more than $450,000 to two individuals for their tip and assistance in uncovering a company’s corporate accounting fraud. [read post]
9 Jun 2016, 2:58 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:At FINRA’s annual conference in Washington, D.C. on May 23, 2016,FINRA’s CEO Richard Ketchum, told participants that “from an examination perspective, we count culture as a factor that influences a firm’s risk profile,” and there is a “direct line between culture and the probability or severity of an enforcement action. [read post]
8 Jun 2016, 1:18 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:Two men in California have been charged by the SEC in connection with allegedly pocketing millions from investors. [read post]
7 Jun 2016, 11:06 am
From the Desk of Jim Eccleston at Eccleston Law LLC:After failing to disclose fees charges to clients, the advisory firm Momentum Investment Partners and its principal, Ronald Fernandez, were charged by the SEC with fraud.According to the SEC, Momentum was doing business as Avatar Investment Management when Fernandez relocated some of its clients into a newly created mutual fund in 2013, failing to notify the clients of the transfer and the consequent higher cost of… [read post]
6 Jun 2016, 12:50 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:With the stagnant, below-average performance of energy sectors such as oil and gas, many investors hold investments that have lost most of their value. [read post]
31 May 2016, 7:51 am
From the Desk of Jim Eccleston at Eccleston Law LLC:Martin Fridson, money manager at Lehmann, Livian, Fridson Advisors LLC, claims that the junk bond market, as an indicator for recession probability, shows a 44% chance of recession in the U.S. within one year.Fridson asserts, “I am not an economic forecaster – this is what the market is saying … There are lots and lots of caveats, but if you accept the assumptions, it’s a pretty startling comment. [read post]
27 May 2016, 11:23 am
From the Desk of Jim Eccleston at Eccleston Law LLC:According to the most recent regulatory agenda, the Securities and Exchange Commission plans to propose a new set of rules to raise the standards for investment advisers and also to authorize examinations of advisers by third-party, non-governmental agencies. [read post]
26 May 2016, 12:56 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:In its first action brought forth under the new fiduciary requirement for municipal advisers, the SEC has charged a municipal adviser, its CEO, and two employees for their roles in failing to disclose a conflict of interest in breach of their fiduciary duty to their municipal client.The SEC alleged that Central States Capital Markets took the place of the municipal adviser to a municipal entity which held bond offerings… [read post]
25 May 2016, 1:42 pm
From the Desk of Jim Eccleston at Eccleston Law LLC:At the Financial Industry Regulatory Authority Inc. [read post]
24 May 2016, 7:38 am
From the Desk of Jim Eccleston at Eccleston Law LLC:Today’s market environment demands a system of asset allocation that reaches beyond traditional stock and bond portfolios. [read post]
