SEC alleges money from newer UDF fund was being used to pay distributions to investors in older fund.
The claimant's broker at UBS has 183 disclosures on his BrokerCheck report.
That depends on whether it has the cash and determination to pull the trigger on what could be a billion-dollar deal.
The firm notified brokers that new clients can choose whether or not to allow advisers to take their information with them if they leave the firm.
UBS exec Richard Steinmeier will replace Bill Morrissey, who is retiring after a number of LPL recruiters jumped ship.
Firm will also pay $1.1 million in restitution after SEC finds improper sales of market-linked securities.
The move is intended to cut compliance costs for firms as well as make the registration and disclosure process more efficient.
James Nagengast is challenging Finra's handpicked nominee, Shelley O'Connor, co-head of wealth management at Morgan Stanley.
Merrill Lynch has seen two teams exit recently, each with more than $4 billion in client assets.
The mutual fund giant was the largest shareholder of American Realty Capital Properties Inc. when it reported inflated financial results because of a $23 million accounting mistake.
