Subscribe

Galvin widens investigation into alleged RCS proxy fraud

William Galvin

Massachusetts securities division examining independent broker-dealers that sold RCS alternative investments such as nontraded REITs.

The Massachusetts investigation into alleged proxy vote fraud at Realty Capital Securities, or RCS, has expanded to include independent broker-dealers that sold RCS alternative investments such as nontraded real estate investment trusts.
The widening inquiry was confirmed on Thursday by Brian McNif

Subscribe or log in to read the rest of this content.

Learn more about reprints and licensing for this article.

Recent Articles by Author

Finra dings small Calif. B-D over Reg BI, missing red flags

'Our department’s Reg BI-related disciplinary actions have been increasing,' noted a senior Finra executive.

B. Riley bouncing back after tough winter

'The wealth managers have been unbelievably supportive through all of this,' said Bryant Riley, the firm's chair and co-CEO.

Finra targets broker over WhatsApp misuse

The use of unmonitored messaging apps by financial advisors has been on the rise in the wake of the Covid-19 pandemic.

Veteran leader Desiree Sii departs Osaic

'Does Osaic really need these redundancies in management,' asked one industry executive.

Cambridge’s new RIA sets floor to make a deal

'The advisor wants to get out of the business at 65 or 70 but clients will live to be around till 90,' says one banker.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print