Cetera B-D on hook for $2.66 million arbitration claim stemming from REITs, annuities
In an unusual aspect of the investors' claim and subsequent award against First Allied Securities, the $2.66 million in damages requested matched the amount the three arbitrators awarded.
First Allied Securities Inc. lost a Finra arbitration claim Friday to two investors who received $2.66 million in damages stemming largely from the sale of nontraded real estate investment trusts and annuities.
The two claimants, Nancy and Ivan Mailhot, filed the claim against First Allied and t
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