Lawsuit alleged brokerage firm misused investor funds in financing the failed Jay Peak ski resort.
Four-adviser team Cygnus Asset Management of Charlotte, N.C., is leaving Wells Fargo's Financial Network channel.
Self-regulator wants to encourage capital-raising while still protecting investors.
Connecticut man raided his client's account in $1.2 million theft.
The five-year class-action battle involved 1,056 former financial advisers.
Takes enforcement action against firms taking money to tout stocks.
Disciplinary proceedings will determine whether a firm or an adviser exerted undue influence over "vulnerable individuals or individuals with diminished capacity."
Firm says it will look for talent among teachers, entrepreneurs and former athletes.
Consolidator could add $6.4 billion in assets at a cost of about $70 million.
Lawson Financial settles with SEC over due diligence in nursing home financings.
