RCS Capital Corp. says it is regaining the confidence of IBDs, with firms reinstating 51 nontraded REIT selling agreements.
The clearing and custody giants have followed B-Ds by suspending sales of nontraded REITs controlled by Nicholas Schorsch, presenting another potential blow to the real estate czar's business.
Finra has barred a broker-dealer and its founder for allegedly defrauding a number of current and former NFL and NBA players out of nearly $14 million as part of a Ponzi scheme
SEC, Finra and state securities agencies have been in contact with the Schorsch firm after a $23M <a href="http://www.investmentnews.com/article/20141029/FREE/141029902/nicholas-schorsch-downplays-arcps-23m-accounting-debacle" target="_blank">accounting error was revealed</a> at a sister company. RCAP also confirms Massachusetts investigation.
RCAP may remake itself to boost value with stock down 39% since late October
Both companies controlled by the REIT czar but broker-dealer not involved in accounting trouble at American Realty Capital Properties.
American Realty Capital Properties wins approval from creditors for postponement of reporting its third-quarter financial statements until Jan. 5.
B-Ds halting sales of Schorsch's REITs include some of the largest and most influential in the industry
As processing error delays commissions by a day, president Robert Moore moves to reassure advisers.
The average compensation for Finra's 3,400 employees last year was nearly double that of the average worker on Wall Street. Bruce Kelly takes a look at the numbers. <i>Plus:</i> <a href="//www.investmentnews.com/article/20140620/FREE/140629985"" target=""_blank"" rel="noopener noreferrer">Finra trims operating loss but comp costs climb</a>
