A former middle school and high school English teacher, Bruce Kelly started at InvestmentNews in 2000 as the brokerage reporter after a two-year stint at sister publication Pensions & Investments. He writes a bi-weekly, award winning column, On Advice, and covers the independent broker-dealer industry.
National Securities receives notice of imminent enforcement action; scrutiny likely stems from sale of Provident Royalties notes
Mark Schlafly, chief executive of FSC Securities Corp., one of three independent broker-dealers owned by AIG, has resigned due to personal reasons, the company said last week
On Friday, Securities America's CFO said the brokerage could face bankruptcy if a judge rejected a proposed settlement over soured private placements. The judge rejected the settlement. Now, Securities America's parent may step in to try to bail out the besieged B-D.
A mediation session to resolve investor claims against Securities America Inc. involving hundreds of millions of dollars failed…
A judge shoots down a possible class-action settlement between Securities America and private placement investors, leaving the brokerage's future in doubt
Finra boss Richard Ketchum says a fiduciary standard is unlikely to happen for another 18 months; regulator will have to build new staff and create a separate board – if it's chosen as advisory biz SRO
A mediation session to resolve hundreds of millions of dollars of investor claims against Securities America Inc. failed to yield a settlement last week, as the firm's 1,800 reps and advisers continue to speculate on whether the firm will survive.
NASAA says ruling will have chilling effect on securities enforcement
The proposed class action settlements reached by Securities America Inc. and its parent Ameriprise Financial Inc. with clients who bought allegedly fraudulent private placements from Securities America between 2003 and 2009 could be upended by investors who opt out of the deal
Schlafly exiting for personal reasons; Advisor Group's Roth to fill in for the moment
