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Musk's next move; brokers fail to report trouble
The Tesla chief wants to get into military satellite launching. Plus, brokers failing to report trouble to Finra, stocks (and Costco earnings) drop, the Citi/Oceanografia plot thinkens, who you should follow on Twitter, and more.
Closed doors at Finra hide the whole industry's shame
Finra's second diversity conference in New York on Tuesday featured a number of key industry speakers who touted the importance of recruiting, retaining and promoting more women and minorities in the industry. “Diversity is strength — even a group of best point guards cannot win a basketball game,”
Finra arbitration panel tags Signator Investors for $1.6 million in selling-away case
Three clients of former broker at Hancock unit receive award for losses in failed land deals.
Woodbury Financial Services promotes Rick Fergesen to president and CEO
Broker-dealer had sought a new chief since Pat McEvoy resigned in December.
Finra fines Berthel Fisher $775,000 for compliance failures
Regulator said IBD didn't adequately train or supervise brokers selling alternative investments and nontraditional ETFs .
Credit Suisse in $196M settlement with SEC over unregistered advisory services
The firm strikes a $196 million settlement with the SEC over charges it provided cross-border advisory, brokerage services for 8,500 U.S. clients. A Justice Department investigation is pending.
Schorsch's RCS Capital moves to keep its 9,000 registered reps in the fold
In a highly anticipated move, RCS Capital Corp. said that it intends to create a retention package for the 9,000 registered representatives and investment advisers that it has acquired since the company had its initial public offering last June.
With business booming, Schorsch's RCS Capital eyes further growth
Nick Schorsch's RCS Capital is building the second-largest independent broker-dealer network — 9,000 registered reps and financial advisers — through several acquisitions it announced last year.
Investors of all asset levels attracted to self-directed trading platforms
With investors of all asset levels attracted to self-directed trading platforms, advisers need to keep up with all the do-it-yourself online offerings because the DIY channel is mainstream.
WJB Capital executives charged in scheme to prop up firm
Three former WJB Capital Group Inc. executives were charged with defrauding investors of more than $11 million in a bid to prop up the now-defunct broker-dealer. The trio pleaded not guilty.
Regulators have an uphill battle to bring transparency to illiquid investments
Bringing light and due diligence should be a priority for the investment advice industry.
Securities America enters hybrid advisory arena
Firm teams with RIA United Advisors and former Morgan Stanley executive to offer advisers independence and broker-dealer support.
Former Barclays broker ordered to repay $3.25M on loan default
An ex-Barclays PLC financial adviser has been ordered to repay his old firm more than $3.25 million in one of the largest promissory note cases in recent years. A Finra arbitration panel ruled that former managing director Preston McSwain was still liable for much of the unvested portion of a large
Wirehouse breakaway market seen thawing
After a mostly frigid 2013 for recruiting from wirehouse brokerages, agents responsible for selling those brokers on the benefits of free agency are cautiously optimistic that a thaw has finally set in.
After turnaround, UBS caps off banner year
UBS Wealth Management Americas’ focus on ultrawealthy clients continued to pay off as strong fourth-quarter results capped off a banner year for the firm. Profit climbed as the firm brought in a record $254 million in pretax earnings in the fourth quarter, representing a 64% jump from a year
- Regulators have an uphill battle to bring transparency to illiquid investments
- Merger of Nicholas Schorsch's American Realty Capital Properties and Cole Real Estate Investments closes
- Schwab's all-ETF 401(k) platform revs up competition
- Social media as a pathway to new clients
- New ETFs are hedged against credit and interest rate risk
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Kim Dellarocca Head of Segment Marketing and Practice Management, Pershing
Ryan Reineke SVP, Operations and Technology, Cambridge Investment Research