Complaint naming Jackie Wadsworth, CEO of IMS Securities, centers around sale of VAs and real estate securities.
Mark Tauzin was suspended for eight months from any Finra-registered broker-dealer, fined $20,000 and required to pay $205,000 plus interest to 14 sets of clients.
XML Financial joins roll-up firm Focus Financial.
ClientWorks, the company's adviser dashboard, is now available to more than 11,000 advisers, up from 500 this time last year.
Finra has been unable to find a way to ensure investors get paid what they are owed.
The firm is on the verge of buying Foothill Securities, an adviser-owned firm with 220 registered reps under its roof, according to two industry sources.
Plus: Trump would dump Yellen, bracing for the next housing bubble, and 401(k) realities that should not be ignored
Purchase of Wall Street Financial Group is the firm's ninth and second in as many months.
Adapting to regulatory changes has been a struggle, meaning the nontraded REIT industry's worst fears have come true.
The new CEO confronts a series of daunting questions as he settles into his new role at the embattled broker-dealer. Read more about the <a href="//www.investmentnews.com/article/20160901/FREE/160909997/cetera-names-robert-moore-ceo-replacing-larry-roth"" target=""_blank"" rel="noopener noreferrer">management turnover at Cetera</a>.
A 13-year veteran of LPL, Jeffrey Buchheister was most recently executive vice president and chief accounting officer.
People inside and outside the company say word of the new chairman has already given a lift to morale of advisers.
CEO Ron Kruszewski had indicated in November that the B-D's lower margins were dragging down the wealth management group.
Company founded by one-time real estate mogul Nicholas Schorsch announces $3 million settlement with Massachusetts Securities Division and said it will lay off nearly 150 employees.
The tax code says fines paid to a government "agency or instrumentality" for violation of a law aren't tax-deductible.
Cetera CEO Larry Roth says the company is shedding the RCS Capital name, officially putting the Nicholas Schorsch era behind it.
CEO Larry Roth acknowledges that the company has been looking at senior management structure.
The company remains mum about reports that Mr. Roth has been replaced by chairman Robert Moore as CEO. <i>Plus: <a href="//www.investmentnews.com/article/20160815/BLOG09/160819961/key-principles-to-guide-corporate-governance-procedures-for-the-ibd"" target=""_blank"" rel="noopener noreferrer"> Mr. Roth and Mr. Moore discuss the principles they developed for Cetera's board</a></i>
Mr. Moore, Cetera's non-executive chairman, will take over the reins Sept. 12.
A board of directors should exist to serve the interests of the company and its key stakeholders &mdash; not the other way around.
