A unit of UBS AG has offered to repurchase shares of moribund, closed-end municipal bond funds invested in Puerto Rico muni securities from a select number of clients, according to plaintiff's attorneys. Bruce Kelly reports.
Move designed to create distance between investment creation and distribution.
Shares of company nontraded REIT czar is using to build a B-D empire have more than doubled since beginning of December .
Investment advisers are flocking to the asset management and technology company and it's become a market darling. The stock is up 178% over the last year.
Finra freezes new arbitration cases in Puerto Rico as a flood of claims sends the regulator scrambling to find more arbitrators. Bruce Kelly has the story.
Mitchell Sabshon plots a course for nontraded REIT sponsor Inland Real Estate Investment Corp. to recreate its prior success.
Massachusetts securities regulators, led by William Galvin, have started looking into the sales Puerto Rican municipal debt obligations, sending inquiry letters to several firms.
A UBS unit is facing a legal fight over the sale of Puerto Rico closed-end-bond funds after their values slumped. Bruce Kelly has the story.
In a highly anticipated move, RCS Capital Corp. said that it intends to create a retention package for the 9,000 registered representatives and investment advisers that it has acquired since the company had its initial public offering last June.
Nicholas Schorsch, picking up Cetera Financial for $1.15 billion, likens his RCS Capital to two of the biggest names in the retail-securities industry and dismisses the notion he overpaid. <i>See also: <a href="//www.investmentnews.com/article/20140116/FREE/140119925"" target=""_blank"" rel="noopener noreferrer">Marron scores big on Cetera deal</a>.</i>
