Results for "real estate investment trusts (REITs)"

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Brokerage customers winning more Finra arbitration cases

August 13, 2019

The number of Finra arbitration cases has declined through the first half of the year, but customer victories have increased. Financial Industry Regulatory Authority Inc. arbitration statistics posted on the regulator's website show there were...

Nick Schorsch returns to public view, this time to settle up with the SEC

July 19, 2019

For the past few years, financial advisers and brokerage industry executives have bombarded me with the same question: Whatever happened to Nick Schorsch? Where did the nontraded REIT czar go? I'm sure many InvestmentNews readers could never...

Finra panel awards investors $1.16 million over sales of REITs, other complex products

July 17, 2019

Finra arbitrators awarded six investors $1.16 million in a case in which they alleged Berthel Fisher & Co. Financial Services Inc. sold them inappropriate complex investments. The three-member, all-public Financial Industry Regulatory Authority...

Schorsch, AR Capital to pay $60 million to settle SEC charges

July 16, 2019

Nicholas Schorsch, the former nontraded real estate investment trust czar who in his heyday raised billions of dollars annually from retail investors, and his firm AR Capital agreed to pay $60 million in penalties to settle Securities and Exchange...

David Lerner Associates' financial condition deteriorates

July 10, 2019

David Lerner Associates Inc., once known for its radio ads selling municipal bonds, reported in a recent regulatory filing that its financial condition had deteriorated in 2018. The filing with the Securities and Exchange Commission, an annual...

Consider the alternative

April 8, 2019

Think about the characteristics that make a strong portfolio: diverse, cost-efficient, tax-efficient, risk-managed. These qualities should be true of every portfolio, no matter the size or an individual's risk profile. The clients we meet with...

Brian Block continues his legal fight to stay out of prison

March 21, 2019

Convicted of securities fraud almost two years ago, Brian Block's fight to stay out of prison turned the page this week as he lost his bid for a new trial in federal court, but appealed to a higher venue for another attempt to prove his innocence....

Broker-dealer pays $9.5 million to settle alternative investment claims by Native American tribe

June 26, 2019

Purshe Kaplan Sterling Investments will have to pay $9.5 million related to the sale of alternative investments to a Native American tribe in Michigan, according to a recent filing with the Securities and Exchange Commission. The independent...

LPL continues to grapple with email, exam and alternative investment snafus

January 7, 2019

LPL Financial was fined a total of $490,000 last month by two states for its alleged failure to review emails of its brokers, failure to conduct yearly exams of branch offices, and misclassification of nontraded REITs and BDCs, which are alternative...

As trial of ARCP CFO Brian Block comes to close, two sides engage in smear campaign against witnesses

June 29, 2017

Attorneys presented closing arguments Thursday in the securities fraud trial for Brian Block, the former chief financial officer at the giant REIT once controlled by Nicholas Schorsch, with the prosecution calling Mr. Block a liar who fabricated...

Investors accuse Nicholas Schorsch of plundering RCAP for own gain

March 10, 2017

A group of investors has accused Nicholas Schorsch, the former nontraded REIT czar, and his partners of siphoning off revenue in RCS Capital, or RCAP, a company once controlled by Mr. Schorsch that went into bankruptcy. The allegation, which...

W.P. Carey exiting the nontraded REIT business

June 16, 2017

W.P. Carey Inc., one of the companies instrumental in the evolution of the nontraded real estate investment trust business, is pulling out of the nontraded REIT market. The company will continue to manage its current nontraded REITs and other...

Changing direction, FS Investments launching a nontraded REIT

February 14, 2017

FS Investments launched a $2.5 billion commercial mortgage nontraded REIT Monday, a first for the company better known for sponsoring non-traded business development companies. The new company, FS Credit Real Estate Income Trust Inc., has hired...

Layoffs, reorganization for First Capital

June 1, 2017

Employees of the First Capital companies, which include a small non-traded real estate investment trust and business development company, were told over the Memorial Day weekend in a memo that there would be layoffs and a reorganization of the...

Judge declines to dismiss indictment against former ARCP CFO Brian Block

May 1, 2017

A federal judge on Friday declined to dismiss an indictment alleging that Brian Block, the former chief financial officer of American Realty Capital Properties Inc., or ARCP, participated in a fraudulent scheme to inflate the company's financial...

Trump throws monkey wrench into REIT sector

December 27, 2016

2016 was supposed to be the year of the REIT — until it wasn't. In September, real estate got its own major market index category, bringing real estate investment trusts more visibility and, by extension, access to more capital. Like clockwork,...

Troubled Texas REIT sends confusing signals to shareholders

December 13, 2016

As the year draws to a close, questions continue to linger for investors who own United Development Funds real estate investment trusts and the reps who sold them. The four UDF-managed REITs have combined assets of $1.3 billion but have not...

Payroll problems dog small nontraded REIT

November 23, 2016

A small nontraded real estate investment trust that has missed filing financial statements with the Securities and Exchange Commission for more than a year and recently cut its dividend to investors is now facing another hurdle: failing to pay...

Shareholders approve merger of two Schorsch REITs

February 16, 2017

A year ago, Nicholas Schorsch, the former nontraded REIT czar, was working to consolidate more than half a dozen real estate investment trusts with more than $10 billion in assets. Now, those moves have begun to bear fruit for Mr. Schorsch and...

Coming off a disastrous 2016, sales of nontraded REITs could bounce back in 2017

December 27, 2016

After a disastrous 2016, industry analysts and executives are cautiously optimistic that sales of nontraded real estate investment trusts will bounce back next year. There are a number of reasons why sales of nontraded REITs, declined from nearly...

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