A National Securities Arbitration & Investment Fraud Law Firm
Cetera Financial Group subsidiary VSR Financial Services, Inc. (CRD# 14503) is winding down and transferring some of its brokers to other Cetera Financial Group broker-dealers. VSR is one of Cetera Financial Group’s (“Cetera”) many independent brokerage firms. Cetera was acquired by Nicholas “Nick” Schorsch’s RCS Capital in 2014 in an…
Cetera Investment Services, LLC (CRD# 15340) entered into a Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA after the regulatory body alleged it failed to notify account owners regarding changes to their account records. According to the AWC, from October 1, 2008 through November 15, 2013, Cetera failed to…
United Development Funding IV (“UDF IV”) announced a distribution amidst a continuing SEC investigation and delisting from NASDAQ exchange. On November 8, 2016, United Development Funding (“UDF”) announced that its public real estate investment trust United Development Funding IV’s board of trustees has authorized a cash distribution of $0.08 per…
On November, 2016, FINRA announced fines against five (5) Cetera Financial Group brokerage firm subsidiaries in an amount of $2.95 million for supervisory failures related to variable annuity L-shares. FINRA fined the following Cetera Financial Group-related firms: Cetera Advisor Networks LLC (CRD# 13572) of El Segundo, CA, was fined $750,000. Cetera…