In an updated lawsuit, plaintiffs allege American Realty Capital Properties insiders artificially inflated a key metric to help it grow into a powerhouse with 4,400 properties and $21 billion in assets.
The audit committee for troubled traded REIT American Realty Capital Properties Inc. said it “found certain material weaknesses in the company's internal controls over financial reporting and its disclosure controls and procedures.”
Huge hurdles for nontraded REIT sponsor in weeks ahead.
IBD inks deal with Southwest financial services company Zions Bancorporation, adding 50 reps and advisers.
Once restructuring is completed, the company expects $3 million in annual savings after taking $9 million charge to move Fortigent unit to corporate headquarters in Charlotte, N.C.
Top executives at the firm are among those facing smaller bonuses after a year of discouraging financial results.
Regulators are steamed by B-Ds that mark up postage charges to clients. You can't blame them. In some cases, brokerages are socking customers up to $75 per transaction.
Deal with Ameriprise could mark the end of the line for John Sykes, who, at one time, hoped to build a brokerage to rival Raymond James.
Formerly known as First Midwest Securities, the IBD has 33 advisers and $600 million under management.
