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Broker/Dealer Securities America Sold

Plagued by lawsuits and arbitration claims over sales in Medical Capital Holdings and Provident Royalties, broker/dealer Securities America has been sold to Ladenburg Thalmann Financial Services for...

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CapWest Shutters Business

Legal problems tied to private placements sales in Medical Capital Holdings and Provident Royalties have proved to be the undoing for yet another broker/dealer. Last week, CapWest Securities announced...

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Sloppy Due Diligence Behind Private-Placement Deals

Private placements have been a ongoing source of controversy – not to mention financial losses for investors – this year, with regulators filing fraud charges against issuers like Medical Capital...

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CapWest Ordered to Pay $9M Over Failed Private Placements

Clients of CapWest Securities received a vindication of sorts today when an arbitration panel of the Financial Industry Regulatory Authority (FINRA) ordered the broker/dealer to pay $9.1 million in...

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Fallout From Medical Capital Debacle Continues

The collapse of Medical Capital Holdings has led to numerous lawsuits and arbitration complaints by investors against the brokerages that failed to perform their due diligence before selling them...

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The Fallout of Greg Smith’s Attack Against Goldman Sachs

The words “due diligence” and “suitability” have taken on a whole new meaning following Greg Smith’s very public condemnation of his former employer, Goldman Sachs. Smith, an executive at Goldman,...

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Private Placements Shutter Another B-D

Sales of private placements have caused the undoing of another broker/dealer. On April 13, after losing an arbitration claim in March for $1.5 million, Cambridge Legacy Securities LLC filed its...

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President of Medical Capital Fraud Pleads Guilty

One of the key players connected to the Medical Capital Holdings fraud may be heading to jail, following a private-placement scam that resulted in almost $1 billion in losses for investors. On Monday,...

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Legal Issues Continue to Follow B-Ds in 2013

Independent broker/dealers continue to face a wave of legal and regulatory issues in 2013, with many expected to shutter their businesses. As reported Jan. 20 by Investment News, the problems facing...

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Wells Fargo and Medical Capital Holdings Case to Move Forward

Earlier this week, a federal judge rejected an attempt by Wells Fargo & Co. to throw out a class action lawsuit brought by investors who say the bank failed in its role as a trustee for debt issued...

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