RBC Capital Markets has signed a consent order with Massachusetts securities regulators, accepting a censure and a $200,000 fine for failing to supervise former broker Bruce Cameron, who over-concentrated the portfolios of senior citizens in energy sector master limited partnerships.
Cameron, a 50-year veteran of the securities industry, left the firm and dropped his securities registrations last November after being censured by the state.
In addition to the fine, RBC was ordered to provide offers of reimbursement to the affected investors.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
