A Michigan pension plan says the company bought back shares at artificially inflated prices because of misleading statements it made about its financial condition.
Firm expects the fiduciary rule to be a catalyst for more advisory business and wants to help its advisers compete.
Court filings from the RCAP bankruptcy proceeding state that Cetera Financial Group's adviser headcount has fallen 4.3%.
The company doesn't specify how many of its 9,000 Cetera brokers will qualify, or any other details of the plan.
IBD sets plan a month after activist investor Marcato Capital took a 6.3% stake.
Suit alleges the private-equity firm is helping top brass break non-compete agreements and then hiring them.
Private-equity firms and an asset manager have been identified as among the broker-dealer network's new ownership.
The brokerage industry's chief regulator will step down in the second half of 2016 after a successor is found.
Senior columnist Bruce Kelly says the agency going after conflicts of interest means closer scrutiny of RIAs and their businesses.
The broker-dealer served as the clearing firm for customer Scout Trading, and acted as an authorized participant of various exchange-traded funds.
