Massachusetts' top regulatory cop accuses the company of allowing unregistered advisers to make trades through its broker-dealer platform.
Revenue from transactions decreased 28.5%, as skittish investors stayed away from the market.
Exchange warning on share price comes as Massachusetts securities cop Galvin <a href="//www.investmentnews.com/article/20151112/FREE/151119971/massachusetts-galvin-charges-realty-capital-securities-with-proxy"" target=""_blank"" rel="noopener noreferrer">charges its wholesale brokerage, Realty Capital Securities, with proxy fraud</a>.
Company says clients turning to advisory accounts as a result of market turbulence.
AR Capital points to market turbulence and impending merger with Apollo.
Nicholas Schorsch made hundreds of millions in real estate, but an accounting scandal devastated his business.
Marcato Capital Management says in a regulatory filing that shares of the independent broker-dealer are undervalued. The stock was up nearly 4% Tuesday amid a broad market sell-off.
As inquiries into the broker-dealer wind down, regulators' focus could turn to others in the industry, CEO Casady says.
Group focuses on mainstream and alternative investments such as nontraded REITs.
