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Registered Rep.
July 25, 2011
Diana Britton |
Another IBD-Seller of Private Placements Goes Belly Up Meadowbrook Securities, another independent broker/dealer that sold problematic private placements by Medical Capital and Provident Royalties, has gone belly up.   |
Financial Planning
January 1, 2012
Donna Mitchell |
Hot Topics SEC enforcement actions... Heartland hails dividends... Regulatory changes & volatility top concerns for retirement advisors... |
Registered Rep.
June 3, 2011
Diana Britton |
Another IBD Implodes, Victim to Private Placement Claims Independent broker/dealer Harrison Douglas Inc. has filed with the Financial Industry Regulatory Authority and the Securities and Exchange Commission to terminate its registrations and close the firm. |
Financial Planning
July 1, 2011
Donna Mitchell |
Hot Topics FINRA steps in... $80 million settlement of two class-action suits by Securities America... Whistleblower payday... |
Registered Rep.
August 17, 2011 |
Ladenburg Thalmann to Buy Securities America Ladenburg Thalmann Financial Services Inc. has agreed to buy Securities America Financial Corp., the troubled independent broker/dealer, from Ameriprise Financial Inc. for at least $150 million in cash. |
Registered Rep.
May 5, 2010
Kristen French |
Small B/Ds in A Crunch, Expect More Closures, Mergers In 2010 Squeezed by investor lawsuits, rising compliance and insurance costs, as well as departing advisors and clients, some of the industry's smallest independent broker/dealers are struggling to stay afloat. |
On Wall Street
May 1, 2011
Lorie Konish |
SEC To Revise Rules On Accredited Investors While proposed changes to the federal definition of an accredited investor seek to boost protection for investors participating in non-public offerings, financial advisors must approach the investments with vigilance, legal experts say. |
BusinessWeek
December 9, 2010
Alexis Leondis |
The Hidden Hazards of Private Placements Some retirees who qualify as accredited investors based on their assets may lack the expertise to evaluate private placements. |
Registered Rep.
April 25, 2011
Diana Britton |
Ameriprise to Shed Securities America Amid Pending Settlement The company plans to sell its independent broker/dealer unit Securities America, while the firm is still in the process of finalizing a settlement with investors claiming SAI sold allegedly fraudulent private placement. |
Registered Rep.
April 28, 2011
Diana Britton |
Securities America Likely To Sell At Discount Ameriprise needs to find a buyer for Securities America in a hurry. Many advisors, including large producers, are likely to leave the firm, especially between now and the time a buyer emerges, sources told Registered Rep. |
Financial Planning
May 1, 2010
Paul Menchaca |
The Road Ahead Securities America's executive team seems to view its stellar growth with a mix of pride, and a small degree of hesitation. |
Investment Advisor
May 1, 2011
Janet Levaux |
Securities America Denies Charges of Departing Reps Anonymous sources insist advisors are leaving or planning to leave the firm |
Financial Planning
May 1, 2006
Marianne Czernin |
Don't Let Simple Things Trip You Up! Financial professionals must take the time to make sure they understand what the various regulatory organizations require them to do before they actually do it. They shouldn't go it alone, or they could find themselves in the same situations as these reps. |
Registered Rep.
March 28, 2011
Diana Britton |
Securities America Nears Resolution With Plaintiffs Securities America has made "substantial progress" in its mediation with plaintiffs' attorneys involved in class action suits against the independent broker/dealer. |
Registered Rep.
June 27, 2011
Diana Britton |
The Good, the Bad and the Ugly It seems like every week, another independent broker/dealer goes under or up for sale because of a bad private placement or other problematic alternative investments. All that turmoil has left a pool of advisors out in the cold, looking for new firms to call home. |
Registered Rep.
November 7, 2011
Diana Britton |
Ladenburg Thalmann's Acquisition of Securities America a Done Deal Ladenburg Thalmann has closed the deal to acquire independent broker/dealer Securities America from Ameriprise Financial. |
Registered Rep.
December 1, 2006
Bill Singer |
The Guessing Game If the NASD wishes to dispel the notion that it is biased against smaller members, then it should adopt the NYSE's policy. Unless, of course, it has something to hide. |
Investment Advisor
July 2008 |
News & Products, July 2007 Marcia Martin was named senior vice president, operations and partner support, at Cambridge Investment Research... The Financial Industry Regulatory Authority warns investors about the potential downside of using 401(k) debit cards... FINRA appointed James Donovan as senior executive VP... |
Registered Rep.
March 15, 2012
Diana Britton |
Ladenburg Thalmann Revenue Doubles Thanks to SAI acquisition, But Profits Are Slim The spike was primarily due to the company's acquisition of Securities America, adding $57.1 million to Ladenburg's 2011 revenue. Net income for the quarter was $6.4 million, compared to a net loss of $1.1 million for the fourth quarter 2010. |
On Wall Street
January 1, 2010
Alan J. Foxman |
Blamed for ARS He Didn't Sell Misrepresenting auction-rate securities... BrokerCheck public disclosure system... |
Registered Rep.
July 1, 2006
John Churchill |
Blotter SEC Tackles Wachovia Insider... Supervisory Meltdown... Market Timing Geeks... |
Registered Rep.
June 23, 2011
Diana Britton |
Ladenburg Thalmann Possible Buyer in Securities America Sale Ladenburg Thalmann, parent company of Triad Advisors and Investacorp, has emerged as a potential buyer of Securities America, which Ameriprise Financial announced plans to sell in late April. |
Registered Rep.
October 6, 2011
Andrew J. Haigney |
Opinion: FINRA Is an Ineffective Regulator FINRA, the brokerage industry's self-regulatory organization, finds itself in caught up in the industry's death spiral. This non-government, private corporation's fortunes are tied to brokerage firms. |
Investment Advisor
June 2009 |
B/D News & Products Important news for broker/dealers: The Financial Industry Regulatory Authority (FINRA) is proposing a major expansion of its BrokerCheck service... Fraud charges against several entities and individuals who operate the Reserve Primary Fund... more... |
Registered Rep.
August 17, 2011
Diana Britton |
SAI Sale to Ladenburg Mostly a Positive for Reps--Depends on Retention Packages Ameriprise Financial's sale of Securities America to Ladenburg Thalmann is mostly a positive for the firm's rep base. |
Registered Rep.
November 8, 2011
Jerry Gleeson |
Auction Rate Revenge For tens of thousands of investors who were trapped in the auction rate securities debacle that started in 2008, finances are getting back to normal. |
Investment Advisor
February 2008 |
B/D News & Products The Financial Services Institute announce that its board of directors elected Brian Murphy, chairman of Woodbury Financial Services, as chair for 2008... There's a new rate for fees paid under Section 31 of the Exchange Act... etc. |
Investment Advisor
April 2008 |
News & Products, April 2008 FINRA has settled cases against five firms... Fidelity Investments has agreed to pay an $8 million penalty... FINRA fined and suspended 16 registered reps of State Farm VP Management Corp. of Bloomington, Illinois... etc. |
Investment Advisor
March 2008 |
News & Products, March 2008 B/D chief compliance officers can now register for the inaugural CCOutreach BD National Seminar... Merrill Lynch & Co. agreed to pay the city of Springfield, Massachusetts $13.9 million... FINRA elects individuals to fill five regional vacancies... etc. |
Registered Rep.
June 15, 2011
Diana Britton |
Another IBD Bites the Dust After Selling DBSI Independent broker/dealer Alternative Wealth Strategies in Cherry Hill, N.J., has gone belly up. |
Registered Rep.
March 17, 2011
Diana Britton |
Securities America Faces Settlement Hearing Friday; Legal Liabilities Up in the Air Securities America will face a federal court judge to decide whether the independent broker/dealer gets preliminary approval for a $21 million settlement agreement related to private placements sold by the company. |
The Motley Fool
January 18, 2011
Selena Maranjian |
Protect Yourself From Your Brokerage When you invest in stocks, you accept some risk. Your stocks may drop in value, shrinking your investment. That kind of risk is unavoidable, but other brokerage-related risks are not. |
Registered Rep.
March 25, 2011
Diana Britton |
Securities America Negotiates With Plaintiffs; Saga Continues Securities America met with plaintiff's attorneys to negotiate a resolution to investor claims against the company related to its sale of allegedly fraudulent private placements. |
Financial Planning
May 1, 2012
Jennifer Woods Burke |
Gotcha! Audits Get Tougher This year, the SEC and FINRA launched a webinar for firms detailing their expectations and reaffirming that whether a firm is large or small, regulators expect the same level of diligence when it comes to audits. |
Registered Rep.
October 19, 2007
Karen Donovan |
Don't Settle With Regulators--Litigate, Says Sutherland Et Al. (That Figures, Regulators Retort: Lawyers Would Say That) You may lose in arbitration, but the punishment may be less than you would have received in a settlement. |
Financial Advisor
January 6, 2010 |
Frontline News Private-Placement Claims Surge... Holding Companies Holding On... Thin Wallets... Average Withdrawal Rates Decrease... UMAs Slow To Win Fans... |
Registered Rep.
July 8, 2011
Diana Britton |
A Cautionary Tale: How One Arbitration Can Topple A Firm With small independent broker/dealers blowing up left and right, it's become that much more important to know what kind of compliance regime your firm has and who your colleagues are. |
Financial Advisor
January 2012
Bruce W. Fraser |
Full Steam Ahead What could have been a sad chapter for Securities America now seems to be a new lease on life for the firm. |
Registered Rep.
August 29, 2014
Diana Britton |
One Strike, You're Out When it comes to the world of independent broker/dealers, the Financial Industry Regulatory Authority is cracking down. Its stated 2014 priority is to focus its regulatory firepower on "high-risk" brokers. |
Investment Advisor
March 2010
James J. Green |
B/D News Bulletins and news of interest to broker/dealers from FINRA and the SEC. |
Investment Advisor
July 2008
Elizabeth D. Festa |
Fight the Power You can take on the Financial Industry Regulatory Authority (FINRA) and actually come out better than if you had settled. |
The Motley Fool
August 30, 2007
Selena Maranjian |
A Better Way to Check Your Broker? A former SEC guy is aiming to help you steer clear of ne'er-do-wells. Meanwhile, make sure that the brokerage you're using is best for your needs. Odds are, you can find a better brokerage that charges you less or offers more services. |
Registered Rep.
June 1, 2008
Christina Mucciolo |
Let's Litigate Here's a little news that might interest you: Sometimes it pays to litigate against the Financial Industry Regulatory Authority (FINRA, formerly NASD) rather than settle. |
Registered Rep.
February 19, 2010
Christina Mucciolo |
FINRA Seeks to Expand BrokerCheck, Make Some Records Permanent The Financial Industry Regulatory Authority announced it is seeking the SEC's approval to expand the amount of information made public on current and former brokers' permanent records in its free online CRD database, BrokerCheck. |
Investment Advisor
June 2008 |
News & Products, June 2008 A $5 million fine imposed against American Fund Distributors for directed brokerage in 2006 stands... FINRA warns about event-linked securities, such as catastrophe, or "cat" bonds... FINRA launches two online resources about early retirement scams... etc. |
Registered Rep.
April 1, 2008
Bill Singer |
One Too Many For The Road Drinking and driving is a very bad idea for a lot of reasons. And for advisors, here's one more: It could make it impossible for you to work for a broker/dealer for a long time. |
Investment Advisor
September 2009 |
Broker/Dealer News Actions by the SEC and FINRA |
Financial Advisor
September 2012 |
Finra Fines On Pace To Exceed 2011 Totals Financial Industry Regulatory Authority fines and disciplinary actions for 2012 are on track to significantly outpace those for 2011, according to a midyear review from the law firm Sutherland Asbill & Brennan LLP. |
Investment Advisor
April 2009 |
B/D Briefing: News & Products The latest from the broker/dealer world. |
Registered Rep.
March 22, 2010
Christina Mucciolo |
FINRA Closes GunnAllen, Next Step Uncertain FINRA shut down Gunn Allen Financial Monday morning for failing to meet net capital requirements. |
