Tagged with "SEC"

FINRA Proposes Rule Change to Delay Immediate Sanctions Pending SEC Review

Posted on July 3rd, 2025 at 9:57 AM
FINRA Proposes Rule Change to Delay Immediate Sanctions Pending SEC Review

The Financial Industry Regulatory Authority (“FINRA”) has proposed a rule change that would allow broker-dealers and registered representatives to seek a stay of certain disciplinary sanctions before those penalties take effect.

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SEC Panel Calls for Tighter Limits on RIAs' Mandatory Arbitration Clauses

Posted on July 2nd, 2025 at 2:16 PM
SEC Panel Calls for Tighter Limits on RIAs' Mandatory Arbitration Clauses

AdvisorHub reports that the Securities and Exchange Commission’s Investor Advisory Committee has finalized a recommendation urging the Securities and Exchange Commission (“SEC”) to rein in the use of mandatory arbitration clauses by registered investment advisers (“RIA”s).

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SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches

Posted on June 30th, 2025 at 2:46 PM
SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches

The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through deceptive fee disclosures and undisclosed conflicts of interest.

 

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SEC Charges Marine Veteran in $2.5 Million Ponzi Scheme

Posted on June 26th, 2025 at 12:11 PM
SEC Charges Marine Veteran in $2.5 Million Ponzi Scheme

The Securities and Exchange Commission (“SEC”) has charged Marine Corps veteran Christopher Aubin with fraud, accusing him of running a $2.5 million Ponzi scheme that defrauded dozens of investors, including several of his former military colleagues.

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SEC Charges Former Real Estate CEO in $46 Million Investment Fraud Scheme

Posted on June 19th, 2025 at 11:21 AM
SEC Charges Former Real Estate CEO in $46 Million Investment Fraud Scheme

The Securities and Exchange Commission (“SEC”) has charged Kenneth Mattson, former CEO of LeFever Mattson, with orchestrating a $46 million investment fraud scheme that targeted approximately 200 investors, many of them retired senior citizens
from his church community in California.

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SEC Charges Three Texas Residents in $91 Million Ponzi Scheme

Posted on May 28th, 2025 at 12:14 PM
SEC Charges Three Texas Residents in $91 Million Ponzi Scheme

The Securities and Exchange Commission (“SEC”) has filed charges against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, all Dallas-Fort Worth residents, for orchestrating a Ponzi scheme that raised at least $91 million from over 200 investors.

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SEC Charges Crypto Promoter in $198 Million Fraud Scheme

Posted on May 14th, 2025 at 11:46 AM
SEC Charges Crypto Promoter in $198 Million Fraud Scheme

The Securities and Exchange Commission (“SEC”) has charged Ramil Palafox for orchestrating a massive securities fraud scheme through his now-defunct company, PGI Global (Praetorian Group International Corporation).

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SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

Posted on May 6th, 2025 at 11:42 AM
SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.

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Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Posted on April 30th, 2025 at 11:37 AM
Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.

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SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

Posted on April 24th, 2025 at 2:14 PM
SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.

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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.

Howard S.

LATEST NEWS AND ARTICLES

July 8, 2025
Veteran Advisors Challenge Focus Financial Overbroad Non-Competes in Federal Court

Two former advisors from Edge Capital Group have filed a federal lawsuit challenging what they describe as excessively restrictive employment agreements following their departure amid a major merger.

July 7, 2025
Maryland Bars Financial Advisor Over Excessive Fees and Unsuitable Investments

The Maryland Securities Commissioner has barred financial advisor Timothy Pickett and his firm, Blue Anchor Capital Management, from operating in the securities industry within the state.

July 3, 2025
FINRA Proposes Rule Change to Delay Immediate Sanctions Pending SEC Review

The Financial Industry Regulatory Authority (“FINRA”) has proposed a rule change that would allow broker-dealers and registered representatives to seek a stay of certain disciplinary sanctions before those penalties take effect.