Leading seller of risky private placements will focus on accounting at two large funds.
The SEC will collect $4.5 million from the brokerage firm for failing to supervise brokers who were ripping off clients.
The wirehouse will penalize advisers if they cannot sell enhanced services to clients with smaller accounts.
Clients were forced to pay fees in addition to the usual wrap charges, the regulator maintains.
Listing of American Finance Trust Inc., the $1.6 billion REIT advised and managed by Nicholas Schorsch's AR Global, has erased almost $1 billion in equity value.
The SEC and U.S. Attorney's office are investigating an alleged loan fraud sold, at least in part, through a network of unregistered brokers and financial advisers.
Looking to double their money in five years, P-E investors are attracted to the wealth management industry.
Ex-audit department employee says she brought concerns to Finra and then was let go days later.
Adviser headcount was down 3.4% in second quarter, but productivity was up 35%.
The share price of American Finance Trust Inc. has plunged since trading began on July 19, and advisers deserve answers.
