Shorris signs on with indie B-D; 'invaluable addition'
Onetime Barron's hotshot adviser files suit against firm; also suing local regulators, including new NASAA president
Big firms were in play, private-equity firms were active; next two years could see 'frenetic activity'
Broker-dealer agrees to pay $200K to settle Finra allegations it sold unsuitable private placements; SEC charges still pending
LPL Investment Holdings Inc. expects to save up to $12 million next year by moving brokers in its subsidiary Uvest Financial Services Group Inc. to LPL's proprietary clearing platform
LPL Investment Holdings Inc., already the largest independent broker-dealer in the industry, wants to add 400 registered reps and investment advisers each year, chief executive Mark Casady said last week
Another independent broker-dealer that sold high-risk private placements is hanging on by a thread, with the firm's management stating grave concerns about the broker-dealer's future
Private placements strike again: Another independent broker-dealer that sold high-risk Reg D offerings appears to be struggling. This week, CapWest Securities' management filed a report with the SEC stating grave concerns about the B-D's future.
Suddenly, selling away is again a big concern for regulators and law enforcement agencies. In recent months, former reps at several marquee B-Ds have been investigated for allegedly peddling unapproved investments on the side. | <b>Extra </b><a href=http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20110923&Category=FREE&ArtNo=923009998&Ref=PH>What top RIA execs earn</a>
Finra is continuing to shake up the way broker-dealers show the value of illiquid investments such as non-traded real estate investment trusts and private placements on clients' account statements.
