Investors in a nontraded REIT launched by Tony Thompson, the one-time noted real estate sponsor, were told last week that the net asset value of the REIT had eroded by nearly 30%.
Industry "floored" by allegation that REIT czar had hand in $23 million accounting error at American Realty Capital Properties.
Up to $13.6 billion in fresh equity expected to flow from listings, mergers and special distributions.
Comes on heels of another $200,000 penalty last year for missing a stock-fraud scheme
American Realty Capital Properties Inc.'s former chief accounting officer alleges the ex-chairman ordered numbers to be changed.
REIT czar resigns from RCAP, boards of 11 AR Capital affiliates. New chairman says change allows company to simplify governance, minimize 'perceived' conflicts and cut complexity. (And check out <a href="//www.investmentnews.com/gallery/20141223/FREE/122309998/PH"" target=""_blank"" rel="noopener noreferrer">the triumphs and trials of Nick Schorsch</a>.)
Massachusetts regulator has launched an investigation into Realty Capital Securities, the wholesaling broker-dealer arm of Nicholas Schorsch's nontraded REIT empire. (<b><i>Also: <a href="http://www.investmentnews.com/article/20141105/FREE/141109957/schorsch-remains-confident-in-his-empire" target="_blank">Schorsch remains confident in his empire</a>)</b></i>
Berthel Fisher among firms that have lifted suspension, but others housing 29,000 advisers confirm they haven't.
Nontraded energy BDC provides funds for exploration and drilling.
Finra accused Bambi Holzer of lying to one of her former broker-dealers in sales of Provident Royalties deals. Now she's barred from the securities industry. Bruce Kelly has the story.
Exec honed his listening and peacemaking skills growing up as the third of eight children and those talents have come in handy.
Finra said the firm overbilled more than 20,000 fee-based accounts in its RIA unit by $2.4 million over seven years and ordered it to pay a $350,000 fine.
Mr. Jack helped build the insurer's variable annuities business and independent broker-dealer network.
Two companies in Nicholas Schorsch's REIT empire have settled their dispute as RCS Capital Corp. agrees to pay American Realty Capital Properties to back out of its deal to buy Cole Capital.
IBD organization expresses suitability concerns with regulator's proposed data-collection system and predicts cost of $250,000 to $1 million — with ongoing maintenance above that.
One of the firm's six original principals, he will remain as a corporate director.
In the wake of accounting problems at American Realty Capital Properties Inc., the rest of Nicholas Schorsch's empire has drawn scrutiny for its complexity.
The clearing and custody giants have followed B-Ds by suspending sales of nontraded REITs controlled by Nicholas Schorsch, presenting another potential blow to the real estate czar's business.
Strong market performance keeps most clients and advisers in place. Check out our <a href="http://data.investmentnews.com/aotm/" target="_blank">database</a> to see who's moving where.
Billionaire's family office is boosting its holding in RCS Capital Corp. to 5%, according to regulatory filings.
