The firm's settlement with the states was reminiscent of how broker-dealers handled various settlements in paying clients who bought auction rate securities.
Industry vet replaces Michael Weil, longtime associate of Nicholas Schorsch.
In moves that indicate across the board belt-tightening at LPL Financial, the company has eliminated as many as 70 jobs and is delaying raises to employees next year by at least six months.
One of the largest networks of independent broker-dealers in the country recently hired a law firm, which in turn will select an investment bank to begin discussions with interested buyers, according to two sources with knowledge of the company's moves.
Activist investor Marcato could demand more of a say in how the company is run in effort to boost its stock price.
Massachusetts regulator looking at whether financial institutions violated any laws.
President of BDCA, company at center of Galvin complaint, is removed; others step down
Exec will become chairman of UBS Americas, focusing on clients and strategic priorities. Tom Naratil, the group CFO and COO, will become president of UBS Wealth Management Americas and UBS Americas.
William Kahane, one of the co-founders of Nicholas Schorsch's AR Capital, resigns as a director from two real estate investment trusts.
