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>
Steep punitive damages awarded to a client show that reps will be forced to pay heavily for their misconduct
Deal finalized, creating the largest net lease REIT with an enterprise value of $21.5 billion.
Investors and regulators are more tuned in to fraud now than in the days of the big boiler rooms.
CEO's departure is second big change in four months.
Triad Advisors, Securities America failed to supervise reps who created and sent inaccurate consolidated account statements to clients, regulator says.
30-rep Argentus Securities squeezed by regulatory woes, tight profit margin.
