Tagged with "FINRA"

FINRA Settles With Coastal Equities Over Improper GPB Private Placement Sales

Posted on January 6th, 2023 at 12:54 PM
FINRA Settles With Coastal Equities Over Improper GPB Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has agreed to a $418,000 settlement with Coastal Equities over sales in 2018 of GPB private placements. 

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FINRA Alters Remote Inspection Proposal to Satisfy Critics

Posted on January 3rd, 2023 at 1:02 PM
FINRA Alters Remote Inspection Proposal to Satisfy Critics

The Financial Industry Regulatory Authority (FINRA) has amended its proposal to permit financial advisory firms to conduct their internal inspections remotely beyond year-end 2023 to satisfy state regulators and investor advocates. 

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FINRA Fines Edward Jones $1.1 Million For Mishandling Phone Records

Posted on January 2nd, 2023 at 3:01 PM
FINRA Fines Edward Jones $1.1 Million For Mishandling Phone Records

The Financial Industry Regulatory Authority (FINRA) has issued a $1.1 million fine to Edward Jones for allegedly mishandling phone records that FINRA was seeking. 

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FINRA Fines LPL $150,000 For Failing to Detect Advisor’s Ponzi Scheme

Posted on December 21st, 2022 at 1:33 PM
FINRA Fines LPL $150,000 For Failing to Detect Advisor’s Ponzi Scheme

The Financial Industry Regulatory Authority (FINRA) has fined LPL Financial $150,000 for failing to adequately supervise an advisor who later was found to have perpetuated a Ponzi scheme. 

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FINRA Issues $1.3 Million Penalty To Advisor Group Over Private Placement Sales

Posted on December 15th, 2022 at 3:32 PM
FINRA Issues $1.3 Million Penalty To Advisor Group Over Private Placement Sales

The Financial Industry Regulatory Authority (FINRA) has issued a $1.3 million fine to the four Advisor Group firms, FSC Securities, Royal Alliance Associates, SagePoint Financial, and Woodbury Financial Services, for selling private placements issued by GPB Capital Holdings.

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Morgan Stanley Ordered to Pay $11.7 Million Over Unauthorized Covered Call Strategy

Posted on December 13th, 2022 at 3:16 PM
Morgan Stanley Ordered to Pay $11.7 Million Over Unauthorized Covered Call Strategy

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay a former client $11.7 million over an allegedly unauthorized call options strategy.

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FINRA Reminds Firm To Monitor For “Red Flags” In Options Trading Applications

Posted on December 9th, 2022 at 12:16 PM
FINRA Reminds Firm To Monitor For “Red Flags” In Options Trading Applications

The Financial Industry Regulatory Authority (FINRA) has released an announcement reminding firms that recommend options trading for clients to be constantly monitoring for “red flags” on customer applications.

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FINRA Orders Morgan Stanley to Pay $697,897 Over Failure to Supervise Nine Advisors

Posted on December 8th, 2022 at 2:48 PM
FINRA Orders Morgan Stanley to Pay $697,897 Over Failure to Supervise Nine Advisors

The Financial Industry Regulatory Authority (FINRA) has ordered Morgan Stanley to pay $697,897, including a $200,000 fine and $497,897 in restitution, for failing to adhere to its own procedures for supervising its advisors’ high-risk recommendations. 

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FINRA Bars Former Northwestern Mutual Advisor For Allegedly Cheating on CFP Exam

Posted on December 7th, 2022 at 1:52 PM
FINRA Bars Former Northwestern Mutual Advisor For Allegedly Cheating on CFP Exam

The Financial Industry Regulatory Authority (FINRA) has barred a former Northwestern Mutual advisor after he failed to cooperate with the regulator’s probe into the Certified Financial Planner Board of Standards’ (CFP Board’s) decision to bar the advisor for alleged “exam misconduct.” 

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FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trades

Posted on December 6th, 2022 at 2:10 PM
FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trades

The Financial Industry Regulatory Authority (FINRA) has issued a 20-day suspension and a $6,000 fine to a former Morgan Stanley advisor for allegedly completing several unauthorized trades. 

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I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

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LATEST NEWS AND ARTICLES

March 14, 2025
Apex Clearing to Pay $3.2 Million in FINRA Settlement Over Securities Lending Violations

Apex Clearing, the clearing arm of Apex Fintech Solutions, has agreed to pay $3.2 million to settle FINRA allegations that it failed to ensure customers received compensation for lending their securities.

March 13, 2025
Congress Considers Expanding the Accredited Investor Definition

A recent congressional hearing examined potential reforms to the accredited investor definition, a critical threshold determining who can participate in private market investments.

March 12, 2025
GPB Capital Investors May Receive Some Compensation Under Proposed Distribution Plan

GPB Capital Holdings investors have not received returns on their investments since 2018. According to InvestmentNews, after years of litigation, a court-appointed receiver has submitted a plan to return funds to the 17,000 investors who purchased $1.8 billion in GPB limited partnerships.