Records of thousands of clients were exposed to foreign hackers, regulator claims.
James 'Jeb' Bashaw charges broker-dealer trumped up charges to steal his lucrative practice in Houston.
Pershing COO says B-Ds are caught in a vise and need help with easing internal expenses.
Claims institutional investors are committed to the independent broker-dealer business.
UDF IV, which had its shares stop trading in February after its offices were raided by the FBI, says its own investigation of its business found no evidence of fraud.
Independent broker-dealers that sold the distressed series of UDF real estate investment trusts could soon be facing arbitration claims from angry investors, according to Alan Rosca, a plaintiff's attorney.
Management of distressed real estate investment trust United Development Funding IV has been subpoenaed to hand over company documents to a grand jury.
United Development Funding IV's stock price has dropped 81% in the past two months after a hedge fund alleged it was operating like a Ponzi scheme
In the new DOL fiduciary landscape, B-Ds can no longer be dependent on commissions.
Agency concerned about brokers who sell out client positions at old firm to generate commissions at new firm. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The fiduciary rule covered from every angle</a>)</b></i>
