The four advisers are setting up two separate RIAs.
The broker, David Strnad, "exceeded the scope of his authority" when he made the trades, according to Finra.
Transaction charges for three ETF managers will drop 45%.
New effort will provide lead generation and other services for RIAs looking to buy.
Despite progress, more could be done for women and minority advisers.
CEO expects acquisitions to continue over the summer.
Newbridge Securities faces large deficit and negative cash flows.
The largest IBD in the country has agreed to buy a small broker-dealer in Florida to kick off the new effort.
Firm is offering advisers upwards of three times prior year's revenue to move.
The regulator sees patterns in the behavior and disclosures of high-risk brokers.
