B-D down: QA3 to close up shop next week
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.
Facing bankruptcy and a potential net capital violation, QA3 Financial Corp. told its 400 brokers late on Friday afternoon it will close in a week.
In an e-mail that landed in brokers in-boxes about an hour after the close of the market, Steve Wild, QA3's owner and CEO, wrote: “In light of t
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