The Financial Industry Regulatory Authority Inc. and FSC Securities last Thursday announced that the firm will pay a $100,000 fine and $492,000 to clients.
Broker-dealers report paying hefty start-up costs and additional ongoing expenses, and are cutting the number of mutual funds they offer.
Industry executives have been chattering for at least a month about the blockbuster deal.
CEO Scott E. Romine sent an email regarding the rumors to the 3,500 reps and advisers affiliated with the network's broker-dealers.
Second big independent broker-dealer acquisition in as many weeks.
As the comment-letter deadline for the Labor Department's fiduciary rule hits, industry organizations warn of orphaned accounts.
The private investigator Ed Butowsky hired to look into the murder of Seth Rich is now suing him and Fox News for defamation.
Doug Ketterer is launching Atria Wealth Solutions with the backing of private equity shop Lee Equity Partners.
Dan Arnold strikes a sunny tone at B-D's annual Focus meeting.
