B-Ds: 2010 In Review
Cambridge Investment Research Inc. announces that it will team up with 23 advisory firms in a new venture called Continuity Partners Group, which will focus on succession planning and acquisition financing. Cambridge will sell stakes in the new firm in exchange for 20% of each advisory firm's annual earnings.
The Massachusetts Securities Division sued Securities America Inc., alleging it made improper sales of risky promissory notes in private placements. Regualtors claimed that the firm failed to reveal pertinent information to investors about high-risk notes issued by Medical Capital Holdings Inc. Some 400 Securities America brokers sold almost $700 million of Medical Capital notes.