Search for: "Jim Eccleston"
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11 Nov 2016, 6:33 am
From the Desk of Jim Eccleston at Eccleston Law LLC:Could President-elect Trump put a halt to the Department of Labor’s fiduciary regulation? [read post]
10 Nov 2016, 6:24 am
From the Desk of Jim Eccleston at Eccleston Law LLC:The owners of KGTA Petroleum, Ltd, Kenneth Grant of Copley, Ohio and Thomas Abdallah of Brunswick, Ohio, were sentenced to prison for their roles in a conspiracy to defraud about 70 investors out of approximately $17 million from 2010 to 2014. [read post]
9 Nov 2016, 7:11 am
From the Desk of Jim Eccleston at Eccleston Law LLC:The CFP Board found that adviser Charles Zsarnay of Toledo, Ohio,allegedly copied certain individual drivers’ licenses in violation of Ohio law and failed to promptly disclose to his firm that he had been charged with a felony. [read post]
6 Nov 2016, 12:00 pm
From the Desk of Jim Eccleston at Eccleston Law LLC: As the population continues to age, FINRA has proposed new regulations that would expand wealth management firms’ responsibilities as well as their scope of action with regard to the financial abuse of the elderly.A proposal was submitted to the SEC by FINRA which would require firms to make “reasonable” efforts to get the contact information for a client’s so-called trusted person. [read post]
4 Nov 2016, 9:16 am
From the Desk of Jim Eccleston at Eccleston Law LLC: The SEC has barred the President, Treasurer, Chief Compliance Officer and shareholder of Veros Partners, Inc. named Matthew D. [read post]
3 Nov 2016, 7:09 am
From the Desk of Jim Eccleston at Eccleston Law LLC: FINRA has ordered J.P. [read post]
2 Nov 2016, 6:26 am
From the Desk of Jim Eccleston at Eccleston Law LLC: The Securities and Exchange Commission has settled charges against Moloney Securities Company, Inc. and its CIO Joseph Ronald Medley, Jr. because of several compliance and disclosure issues. [read post]
1 Nov 2016, 7:07 am
From the Desk of Jim Eccleston at Eccleston Law LLC: Platinum Partners’ flagship fund has filed for chapter 15 protection bankruptcy. [read post]
28 Oct 2016, 6:36 am
From the Desk of Jim Eccleston at Eccleston Law LLC: The Securities and Exchange Commission has issued a Wells noticeagainst troubled Texas real estate investment trust United Development Funding IV (UDF IV) as well as certain individuals associated with the REIT. [read post]
27 Oct 2016, 6:15 am
From the Desk of Jim Eccleston at Eccleston Law LLC:Paul Lebel, formerly registered with LPL Financial, was barred by the Securities and Exchange Commission for defrauding four customers by churning their accounts.Mr. [read post]
26 Oct 2016, 6:52 am
From the Desk of Jim Eccleston at Eccleston Law LLC:FINRA has fined and suspended a former Client Service Administrator (CSA) at Morgan Stanley for fraudulently transferring money from a client’s account to third party bank accounts and for falsifying records.Pursuant to the settlement, the CSA agreed to be fined $5,000 and suspended from the securities industry for 60 days. [read post]
25 Oct 2016, 6:29 am
From the Desk of Jim Eccleston at Eccleston Law LLC:In response to the Department of Labor’s fiduciary rule, which is set to begin on April 10, 2017, Merrill Lynch has decided to end its commission IRA business. [read post]
24 Oct 2016, 6:32 am
From the Desk of Jim Eccleston at Eccleston Law LLC:FINRA has ordered Bank of America Merrill Lynch to pay $800,000 in compensatory damages to two brokers who were owed compensation by the firm when they were fired without cause.This order results from Merrill Lynch initially bringing its own claim in 2015 against the two brokers alleging that they both owed the firm money under a promissory note agreement they signed when they were hired in April 2009. [read post]
20 Oct 2016, 9:05 am
From the Desk of Jim Eccleston at Eccleston Law LLC:The SEC has fined and censured Dupree Financial Group, LLC (Dupree Financial) $25,000 for compliance failures. [read post]
19 Oct 2016, 6:43 am
From the Desk of Jim Eccleston at Eccleston Law LLC:After a three-year-old dispute centering on a disciplinary action by the CFP Board against a husband-and-wife team, the U.S. [read post]
18 Oct 2016, 7:36 am
From the Desk of Jim Eccleston at Eccleston Law LLC:The SEC has announced fraud charges against an investment adviser named Laurence I. [read post]
17 Oct 2016, 8:33 am
From the Desk of Jim Eccleston at Eccleston Law LLC:The SEC has fined UBS Financial Services over $15 million because of its failure from 2011 to 2014 to educate and train retail brokers on the sale of almost $11 billion of complex structured products.UBS gave brokers inadequate information on the potential risks to its brokers involving the sale of complex single-stock linked reverse convertible notes (RCNs) to 44,000 customer accounts. [read post]
14 Oct 2016, 6:46 am
From the Desk of Jim Eccleston at Eccleston Law LLC:The SEC’s Office of Investor Education and Advocacy has recently issued a warning to investors who receive lump sum payments from insurance companies following the recent damage from Hurricane Matthew. [read post]
13 Oct 2016, 6:27 am
From the Desk of Jim Eccleston at Eccleston Law LLC:In 2015, wirehouse firms such as UBS Financial, Merrill Lynch, Wells Fargo Advisors and Morgan Stanley, incurred a net loss of 312 reps. [read post]
12 Oct 2016, 6:53 am
From the Desk of Jim Eccleston at Eccleston Law LLC:A financial advisor named MF (Mickey) Long II of Plano, Texas, has been suspended by the Texas State Securities Board for 45 days for recommending risky investments for a 70-year-old customer while he was employed by VSR Financial Services.Mr. [read post]
