The independent broker-dealer industry took a giant step backward last year, with the largest 25 firms collectively reporting a 10.3% drop in gross revenue.
As the stock market was climbing to its historical peak in late summer 2007, GunnAllen Financial Inc. executives told people that the firm was working to put the worst elements from its brief, intense past of breakneck growth behind it.
The biggest-producing branch of dead-in-the water GunnAllen Financial Inc. is heading to a new independent broker-dealer, Aegis Capital Corp.
Embattled firm said to be in net capital violation after eleventh-hour effort failed to raise fresh funds
Massachusetts widens the net in its ongoing probe of private placements gone bad.
After watching the fall of GunnAllen Financial Inc. become official this morning, the firm's founders —Donald James “Jay” Gunn and Richard Allen Frueh —are apparently moving to a rival broker-dealer.
Finra is investigating Wells Fargo Advisors LLC to determine whether the firm of 16,000 advisers violated rules that protect private client information.
A veteran filed suit Friday against Wells Fargo Advisors for allegedly distributing his book of business to other brokers while he was in the Middle East.
The SEC has fined independent broker-dealer Woodbury Financial Services Inc. of Woodbury, Minn., $65,000 for a variety of violations of Regulation S-P, which prohibits disclosure of non-public personal information about clients to non-affiliated third parties, such as other broker-dealers.
