Citi Smith Barney and Raymond James Financial Services Inc. have won major arbitration claims involving institutional and individual clients seeking tens of millions of dollars in restitution for the purchase of auction rate securities.
Ponzi scam artists will have greater freedom to flourish if state regulators are assigned expanded oversight of RIA firms, according to panelists at the Financial Services Institute Inc.'s annual conference last week.
Firm to be acquired by socially conscious investing shop; combined broker-dealers in top 30 of independent B-Ds
Embattled broker GunnAllen Financial Inc. has lost a top-producing branch — the broker-dealer's first major defection since the abrupt resignations in December of its holding company's chairman and chief financial officer.
Questions surround the beleaguered firm after owner and chairman resigns.
Ameriprise Financial Inc.'s plan to open its brokerage platform to outside variable annuities falls short of the open architecture favored by other independent broker-dealers.
Last week, Securities America Inc. was tagged with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.
Robert Mustard was thought to be the person who assaulted a father and son team of reps on Monday. The former client was said to be 'unhappy over some business dealings.'
