While terms were not released, the price tag could be as much as $70 million, according to one industry executive.
Company founded by one-time real estate mogul Nicholas Schorsch announces $3 million settlement with Massachusetts Securities Division and said it will lay off nearly 150 employees.
Cetera CEO Larry Roth says the company is shedding the RCS Capital name, officially putting the Nicholas Schorsch era behind it.
CEO Larry Roth acknowledges that the company has been looking at senior management structure.
The company remains mum about reports that Mr. Roth has been replaced by chairman Robert Moore as CEO. <i>Plus: <a href="//www.investmentnews.com/article/20160815/BLOG09/160819961/key-principles-to-guide-corporate-governance-procedures-for-the-ibd"" target=""_blank"" rel="noopener noreferrer"> Mr. Roth and Mr. Moore discuss the principles they developed for Cetera's board</a></i>
Coming off a gloomy 2015 of weak revenue growth, the forecast for this year is for more of the same.
Joseph J. Lampariello also ordered to pay nearly $40 million in restitution.
Preferred Apartment Communities Inc. is selling nontraded preferred shares to help fund its growth, giving brokers a 7% commission.
New regulation was catalyst for broker-dealer to impose uniformity, says LPL Financial's Mark Casady.
Nearly three years after he was thrown out of the securities industry, the adviser has filed another appeal.
