Two broker-dealers have emerged as early winners in the fight over the 400 representatives affiliated with QA3 Financial Corp., which officially shut down Friday
Securities Service Network Inc. is the latest broker-dealer to pull the plum out of the pie of the defunct <a href= http://www.investmentnews.com/section/broker-dealer-data-profile&R=290006&Y=2009 >QA3 Financial Corp.</b>
In the wake of some highly publicized private-placement offerings that went sour, the regulator's head of enforcement says the SRO aims to crack down on Reg D deals and non-traded REITs.
Management at Wells Investment Securities -- the broker-dealer of Leo Wells -- says the B-D is on Finra's radar. Apparently, the regulator is set to discipline the firm for allegedly violating advertising and data protection rules.
It's been a rough patch for QA3. The indie B-D has battled an insurer over coverage for lawsuits. In January, the firm lost a sizable arbitration claim filed by an elderly couple. And now, the final blow: an internal e-mail from boss Steve Wild says the brokerage will cease operating on Friday.
National Securities Corp. is the latest broker-dealer to face disciplinary action from Finra over the sale of private placements gone bust
A cash strapped independent broker-dealer that sold $65.3 million in high-risk oil and gas private placements is seeking to combine 36 separate arbitration claims and lawsuits as part of a class action settlement
Registered representatives will operate under a fiduciary standard no earlier than the second half of 2012, according to Finra chief executive Richard Ketchum
Capital Financial wants to merge cases as part of a class action settlement; other brokerages said to be monitoring judge's decision
QA3 Financial Corp., already enmeshed in a dispute with its insurance company, has lost a $1.6 million arbitration claim to an elderly couple who invested in real estate deals that went bust
