Analyst calls it a "massacre" for some investors
Firm failed to send, or create records that it had sent to customers more than 1.6 million required account notices during the previous 36-month period.
Newly designed products and Blackstone Group's entrance into the industry could pump up the market.
Claimants' invested in a real estate private placement, Sonoma Ridge Partners, as well as nontraded REITs sponsored by KBS.
Kelly Clayton Althar allegedly generated $91K in commissions from elderly client with $308K in assets
Even with Finra's extra attention, countless numbers of rogue brokers are still employed in the securities industry.
Charges by Massachusetts' top regulator relate to the former top-producing adviser Roger Zullo, who allegedly committed fraud in selling variable annuities to retirees.
The firm also addressed the recent departures of groups managing about $2 billion in brokerage assets — including star adviser Ron Carson — on its earnings call.
A looming fiduciary rule, combined with regulations limiting product sales, have experts predicting more consolidation is inevitable
