Craig David Dima has been barred from the securities industry for making unauthorized and unsuitable trades totaling approximately $15 million in a 73-year-old retiree's account, and for misrepresenting the reasons for the trades to the customer.
Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates.
Reduction from 2.7% to 2.2% could save smaller clients $5,000 a year.
The Kansas-based firm is a super OSJ that provides compliance and marketing support for 11 independent advisory practices
Firm will also pay a $750,000 fine to Finra for failing to supervise broker who sold tribe non-traded REITs and BDCs.
The broker allegedly used the firm's parking garage stamp to validate parking garage tickets worth $731.
Combination of investment banks will add to presence in small-cap market.
Straight-through trade processing now possible, says portfolio accounting service provider.
In a roll-back of post-Madoff change, requests will go through acting division director, say sources.
