New SEC Goals Emphasize Enforcement -- and Winning Oct 9, 2009
Investors can also expect better access to broker-dealer and investment advisor background checks. The agency also wants to do a better job hanging on to its employees, setting a goal of no more than 8 percent annual turnover. (Law.com)
Jesup & Lamont: This Year's Gold Circle Event Sponsor for Pony Power Therapies, Inc. Oct 8, 2009
Jesup & Lamont, through its two wholly owned brokerage subsidiaries, offers full service broker-dealer and registered investment advisory services through its approximately 150 registered brokers in over 20 locations including offices in New York, San Francisco, Boston, Boca Raton, Chicago, Fort Lauderdale and Orlando. The Company's Jesup & Lamont Securities Corporation subsidiary also publishes proprietary research on several industries including Aerospace/Defense, Alternative Energy and Life... (Yahoo! Wire -- Entertainment News)
Colo. regulators act against broker-dealer Oct 2, 2009
In a complaint filed before an administrative law judge, securities division staff said that St. Louis-based broker-dealer Stifel, Nicolaus gave investors a false sense of security that the investments would always be liquid even though auction-rate securities, in fact, faced significant, inherent liquidity risks. In the complaint, the division alleges that Stifel, Nicolaus violated the Colorado Securities Act by making false representations to investors, failed to adequately supervise its sales... (Denver Business Journal, CO)
Regulators file complaints against Stifel Oct 2, 2009
In a complaint Colorado Securities Commissioner Fred Joseph filed before an administrative law judge, securities division staff said the St. Louis-based broker-dealer gave investors a false sense of security that the investments would always be liquid even though auction-rate securities, in fact, faced significant, inherent liquidity risks. The complaint seeks suspension or revocation of Stifel, Nicolaus license in Colorado. (St. Louis Business Journal, MO)
Roberts Realty co-founder retires Sep 30, 2009
Spalding was the sole shareholder and president of Spalding & Co., a broker-dealer that offered and sold interests in real estate limited partnerships sponsored by Charles Roberts beginning in 1980 and lasting through the mid-90's. Before forming Spalding & Co., Mr. Spalding held several sales and executive positions with in the health care field. (Atlanta Business Chronicle, GA)
Woodbury Financial Services names new CEO Sep 26, 2009
McEvoy will be responsible for providing strategic direction and leadership of the Oakdale-based broker-dealer, which has more than 1,700 registered representatives and 200 headquarters employees ... ranked third on the Business Journal s 2009 Top 25 list of securities broker-dealer firms with revenue of $264 million ... McEvoy most recently was president and CEO of Multi-Financial Securities Corp., a Denver-based broker-dealer in the ING Advisor Network. (Twin Cities Business Journal, MN)
Post-Crisis Financial Watchdogs: A New Push for Reform Sep 22, 2009
" A spokesperson for Frank did not respond to requests for comment. The idea of making the Fed the systemic risk regulator is dead, Wallison said bluntly. The Administration has also proposed new powers for regulators to take over, close and sell off the assets of failed institutions as an alternative to the bankruptcy process. The White House and financial supervisors feel bankruptcy can be a riskier, more disruptive process, as was the case of the bankruptcy of Lehman Brothers last year,... (Fox News)
Bankruptcy ahead Sep 22, 2009
Broker dealer assets increased $514 billion SAAR during the quarter, although most of this is explained by an increase in Treasuries holdings (up $404 billion SAAR). With the Fed's massive MBS buying program in mind, it's not surprising to see broker/dealer holdings of agency and MBS declining $179 billion SAAR.. (Asia Times Online)
Skandinaviska Enskilda Banken AB (publ) Announces Offers to Purchase for Cash Its U.S. Dollar Capital Contribution Securities Sep 19, 2009
Text hiding to spacing. STOCKHOLM, Sept. 18 /PRNewswire/ -- Skandinaviska Enskilda Banken AB (publ) (the Bank) today announces its offer to the holders of its outstanding U.S.$500,000,000 Capital Contribution Securities, currently bearing an interest rate of 4. (PR Newswire)
Books shed light on Bernard Madoff's shady activities Sep 18, 2009
She drills down to Madoff's Wall Street days of a young stock trader in the 1960s and details his vision of electronic trading in the 1980s and his role in promoting and using Nasdaq (National Association of Securities Dealers Automated Quotation System), a nationwide electronic network of broker-dealers ... She describes his secretive 17th-floor advisory operation in Manhattan's Midtown "Lipstick building" that remained largely hidden from his legitimate broker-dealer operation on the 18th and... (USA Today -- Money)
SNS Silver Enters LOI With Syringa Exploration Inc. Sep 17, 2009
Wade Black is Chief Operating Officer of Scarsdale Equities LLC, a FINRA-member broker-dealer based in midtown New York City. Mr. Black has more than ten years of experience managing operations for broker/dealers and investment advisory firms, as well as financing and advising small mining and exploration companies. (CCNMatthews Press Releases)
Lost Weekend: Lehman's Collapse Sep 16, 2009
Or Lehman Brothers Inc., which, as a broker-dealer, cannot file for Chapter 11. You have hundreds of different affiliates in different countries. (Law.com)
Shop talk: The latest scoop in business Sep 16, 2009
David Malusi, CFP of DLM Investment Services -- an independent advisor affiliated with LPL Financial, the nation s largest independent broker-dealer -- recently announced that LPL Financial has been ranked No. 2 out of 14 leading financial services companies in the J.D. Power and Associates U.S. Full Investor Satisfaction Study. The study measures investor satisfaction with full service investment firms across the country and is released on an annual basis by J.D. Power and Associates, a global... (Gaylord Herald Times, MI)
Harris Honored for Equitable LGBT Policies, Practices Sep 16, 2009
Investment banking services are provided by BMO Capital Markets Corp. (BMOCM), a registered broker dealer and member NYSE, FINRA and SIPC. HIS, HBIS and BMOCM are affiliated companies and are wholly owned subsidiaries of Harris Financial Corp. Products offered by HIS, HBIS and BMOCM are Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition to any bank loan... (PR Newswire)
Nighthawk Energy plc Joins OTCQX Sep 14, 2009
SMH Capital is a registered broker-dealer and a subsidiary of Sanders Morris Harris Group (Nasdaq: ) (member FINRA/SIPC) ... Investor-focused companies use the quality controlled OTCQX listing platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers ... Through our Pink Quote(SM) inter-dealer quotation system and Pink Link(R) trade messaging system, we offer broker-dealers an independent, electronic platform to display... (PR Newswire)
Citigroup Wins Second Legal Victory in Two Days in Auction-Rate Lawsuits Sep 12, 2009
Citigroup Wins Dismissal of Auction-Rate Lawsuit (Update3) - Bloomberg. Updated: New York, Sep 12 04:11 London, Sep 12 09:11 Tokyo, Sep 12 17:11. (Bloomberg -- US)
To the victors, the spoils: a post-Lehman scorecard Sep 12, 2009
Having failed to buy all of Lehman, Barclays days later acquired its core US broker-dealer out of Chapter 11 bankruptcy protection. Nomura bought European and Asian assets the following week. (Business Report, South Africa)
State suspends Hosss brokerage license, wants $100,000 fine Sep 11, 2009
The Washington State Department of Financial Institutions Securities Division said it has suspended the securities broker-dealer registration of (HMI) and the securities salesperson registration of the company s president and sole shareholder, Todd Allan Hoss. The state s Securities Division also wants to fine Hoss $100,000. (Puget Sound Business Journal, WA)
London Suicide Connects Lehman Lesson Missed by Hong Kong Hospital Orderly Sep 11, 2009
While Lehmans broker-dealer in the U.S. stayed out of bankruptcy long enough to process many of its trades, the business seized up in the U.K.. In the U.S., everything was wrapped in cotton wool for four days, said PwCs Lomas. (Bloomberg)
Seattle's Newest Business to Revitalize the City's Oldest Parks Sep 10, 2009
ShareBuilder Securities Corporation, a subsidiary of ING Bank, fsb, is a registered broker-dealer and member FINRA/SIPC.. Securities products are: Not FDIC insured - Not Bank guaranteed - May lose value. (PR Newswire)
Lessons from Lehman: Turf woes Sep 10, 2009
Lehman Brothers Inc, the broker-dealer in New York, was a relatively simple company. It siphoned billions from the global group days before it went bust. (The Economist)
Compliance Advisor Website Offers Unique Tool for Brokers Sep 9, 2009
Search Type Choose a search type from the items below. The Compliance Advisor Service is an easy, effective and economical way to create a lasting competitive advantage for your sales team. (Yahoo News -- Press Releases)
Missing Lehman Lesson of Global Shakeout Means Too Big Banks Prone to Fail Sep 8, 2009
The Fed arranged for Lehmans broker-dealer unit to remain open after the bankruptcy filing to allow for repo deals to be resolved in an orderly way. Monday morning dawned breezy and warm on Wall Street. (Bloomberg -- Germany)
* AIG to sell fund unit to Pacific Century Sep 7, 2009
Benmosche halted the auction of a broker-dealer business that Liddy had put on the market, and said in an Aug. 11 meeting with employees that he plans to review AIGs overall restructuring plan and come up with a new vision this month. AIG previously announced sales of US$9. (Taipei Times, Taiwan -- World)
Investment Professionals, Inc. Celebrates 50-Year Anniversary of One of Texas' Longest-Tenured Financial Consultants Sep 4, 2009
SAN ANTONIO, Sept. 3 /PRNewswire/ -- Leading bank broker-dealer Investment Professionals, Inc. (IPI) announced that Daniel D. Howell, Vice President - Investments, recently completed his 50th year as a licensed investment advisor ... Mr. Howell epitomizes the personal qualities of financial consultants and home office employees who have propelled IPI's growth as a bank broker-dealer over its 17-year history ... Licensure for broker-dealer branch managers was instituted in 1963. (PR Newswire)
Beacon's Fixed Annuity Premium Study Reports Second Quarter's Fixed Annuity Sales Aug 29, 2009
MVAs led sales in all three broker-dealer channels ... Channel Company Product Product Type ------- ------- ------- ------------ Banks and S&Ls New York Life NYL Preferred Fixed Book Value Annuity Captive Agents RiverSource Life Rate Bonus 1 Book Value Independent American National Palladium MYG MVA Broker-Dealers Independent Allianz Life MasterDex X Indexed Producers Large/Regional MetLife Investors MetLife Target MVA Broker-Dealers Maturity Wirehouses Pacific Life Pacific Frontiers MVA. (Primezone Releases)
AIG's New CEO Reaches Out to Aug 28, 2009
Since taking over, Benmosche has stopped the sale of the broker dealer group. He said he had not yet decided what to do with the company's asset management business. (Fox News)
Sock it away Aug 28, 2009
Note: Cadena s views are his personally and not necessarily those of INVEST, a Tampa-based financial services broker-dealer with professionals nationwide. INVEST is not affiliated with Retirement Solutions. (San Antonio Business Journal, TX)
The Securities Law Firm of Klayman & Toskes Continues to Investigate the Sales Practices and Due Diligence of Brokerage Firms That Sold Medical Capital Securities Aug 25, 2009
NEW YORK, Aug. 24, 2009 (GLOBE NEWSWIRE) -- The Securities Law Firm of Klayman & Toskes, P.A. ("K&T") () announced today that it is continuing its investigation into the sales practices and due diligence of Financial Industry Regulatory Authority ("FINRA") broker-dealers who solicited customers to purchase Medical Capital securities ... On the same day, FINRA issued a sweep notice to obtain information from several broker-dealers regarding the sale of Medical Capital securities ... Various... (Primezone Releases)
Local difficulties Aug 24, 2009
Larry Langford, the mayor of Birmingham, was charged by federal prosecutors last December with allegedly accepting $235,000 in bribes in exchange for steering county bond business to Blount Parrish, a broker-dealer in neighbouring Montgomery ... Regulators and lawmakers are pushing for independent advisers to be regulated just as broker-dealers are. (FT.com -- Markets)
Bonds Sold to Widows From CIT to GMAC Have Fine Print That Pimco Resists Aug 22, 2009
GMAC issued retail debt called SmartNotes and underwritten by LaSalle Broker Dealer Services, a former division of ABN Amro that was acquired by Incapital last year. Ricketts said GMACs offerings are the least defensible by far. (Bloomberg)
AIG's New CEO Takes Scissors to Restructuring Plan Aug 19, 2009
BROKER-DEALER AFFINITY. "The broker-dealer group is core to the retirement services business," said AIG's Monfried. (ABC News -- Wire)
Madoff's Top Aide Pleads Guilty Aug 12, 2009
DiPascali, 52, pleaded guilty to conspiracy, securities fraud, investment adviser fraud, falsifying books and records of a broker-dealer, falsifying books and records of an investment adviser, mail fraud, wire fraud, international money laundering to promote specified unlawful activity, perjury and federal tax evasion. The perjury count stems from a 2006 deposition before the Securities and Exchange Commission in New York. (Law.com)
The Charles Schwab Corporation (SCHW) to Ring The NASDAQ Stock Market Closing Bell Aug 12, 2009
Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, ), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services business segment. The... (Primezone Releases)
Diamond Hill Investment Group, Inc. Reports Results for Second Quarter 2009 Aug 8, 2009
Beacon Hill Fund Services - In April, Beacon Hill received final approval from FINRA to operate its registered broker dealer, BHIL Distributors, Inc. During the three months ended June 30, 2009, Beacon Hill generated an operating loss of $283 thousand on revenue of $153 thousand compared to an operating loss of $375 thousand on revenue of $19 thousand for the three months ended June 30, 2008. For the six months ended June 30, 2009, Beacon Hill generated an operating loss of $679 thousand on... (PR Newswire)
WorldCommodity Fund Announces New Trading Symbol -- WCOMX Aug 5, 2009
Shareholders should find the new trading symbol allows them to track daily closing prices as well as to more easily compare WCOMX's performance with the other 9,000 mutual funds available to U.S. investors at a variety of broker-dealer websites and financial portals. Related Quotes. (Primezone Releases)
Banks' Wire House Deals Spur Exodus of Advisers Aug 4, 2009
"We're seeing a lot more inquiries and more due diligence trips," said , the senior vice president in charge of sales and distribution at , the independent broker-dealer arm of Hartford Life ... He added, however, "They are not as quick to move as an independent broker-dealer representative or a captive rep." Carlson, who has been at the Woodbury, Minn. (American Banker)
Touchstone Investments Appoints New Head of Mutual Fund Business Aug 1, 2009
The Touchstone Funds are offered nationally through intermediaries including broker-dealers, financial planners, registered investment advisors and institutions by Touchstone Securities, Inc.(1) and advised by Touchstone Advisors, Inc.(2) Touchstone, Touchstone Funds and Touchstone Investments are federal service mark registrations and applications owned by IFS Financial Services, Inc. ... (1) A registered broker-dealer and member FINRA/SIPC. (PR Newswire)
Wintrust Financial Corporation Announces Semi-Annual Dividend Jul 31, 2009
Wayne Hummer Investments, LLC is a broker-dealer providing a full range of private client and brokerage services to clients and correspondent banks located primarily in the Midwest. Wayne Hummer Asset Management Company provides money management services and advisory services to individual accounts. (PR Newswire)
Primevest honors Citizens Financial Advisors Investment Services Jul 30, 2009
The award marked Citizens Financial Advisors Investment Services as a top performer for broker-dealers serving financial institutions exclusively ... Primevest Financial Services is a self-clearing broker-dealer serving the clients of nearly 600 financial institutions in 50 states and Guam. (Princeton Bureau County Republican, IL)
Stricter standards for brokers would force them to put clients’ interests first Jul 29, 2009
Stricter standards for brokers would force them to put clients interests first - The Boston Globe. Local Search Site Search. (Boston Globe)
Penny Stock Chaser is on the RADIO Jul 29, 2009
com is not a registered investment advisor or broker-dealer. PennyStockChaser. (Yahoo! Wire -- Entertainment News)
TESSCO to Present At the CapStone Investments Third Annual Small-Cap Investor Conference Jul 28, 2009
Capstone Investments is a full service broker-dealer that offers its equity research to institutional investors. It specializes in researching small- and micro-cap companies, looking for well-positioned companies, regardless of sector or location, with strong growth potential and/or undervalued fundamentals. (Primezone Releases)
Nomura Announces it has Become a U.S. Primary Dealer Jul 28, 2009
NEW YORK, July 27 /PRNewswire/ -- Nomura Securities International, Inc. (NSI), a U.S. broker-dealer within Nomura Group, announced today that it has been designated to join the ranks of Primary Dealers by the Federal Reserve Bank of New York ... NSI is a registered U.S. broker-dealer and a member of SIPC.. (PR Newswire)
Vining Sparks sees surge in demand from community bank customers Jul 22, 2009
The Memphis-based broker dealer caters to the investment needs of community banks. In the last two years those customers have relied on the services of Vining Sparks to try to make money when everything else was tanking, says chairman and founder Jim Vining. (Memphis Business Journal, TN)
A.D.A.M., Inc. to Present at the CapStone Investments Third Annual Small-Cap Investor Conference Jul 22, 2009
Capstone Investments is a full service broker-dealer that offers its equity research to institutional investors. CapStone research focuses on small- and micro-cap companies, ranging from healthcare to alternative energy. (Primezone Releases)
SEC, ASC file suits against Morgan Keegan claiming fraud Jul 22, 2009
Memphis-based Morgan Keegan, s brokerage subsidiary, was also hit with an Order to Show Cause by Alabama s securities regulator, which gave the company less than a month to prove that its broker-dealer license should not be suspended or revoked, according to a statement released by ASC Tuesday morning. The order, which was also filed in federal court, alleges Morgan Keegan engaged in dishonest and unethical practices, failed to supervise their agents in the sale of auction rate securities,... (Memphis Business Journal, TN)
Full Story » Jul 22, 2009
Broker dealer, bank and investment adviser regulatory Compliance services. Our ERP Solution lowers prod cost ases efficiency up to 80. (Yahoo News -- Press Releases)
CIT Bondholder Pact Proves Life After Death as Government Lets Market Work Jul 21, 2009
or American International Group Inc., the banks rescue by instead of the U.S. government marks a milestone, said , managing director of fixed income at Wall Street Access, a broker-dealer in New York. Back in September, if a firm was struggling and was rumored to be running out of time and may have to file for bankruptcy, if the government didnt come in they were done, Lee said in a telephone interview. (Bloomberg -- US)
Gary Deduke, TradeTheNews.com Analyst, Confirmed as Speaker at The Forex & Options Expo Jul 20, 2009
He has traded FX for himself, clients and a broker-dealer desk. For the past year, Mr. Deduke has served as a currency specialist at TradeTheNews. (Yahoo News -- Press Releases)
Hevesi Donor's Selection Spotlights How Pay-to-Play Works at Pension Fund Jul 18, 2009
CSG said in its letter to clients that it had done nothing wrong in entering into an agreement in July 2005 with Searle & Co., Morriss broker-dealer, to be its agent. The SEC said in its complaint that the pension fund bought a $635 million limited partnership interest in Liberty Oak Fund in 2006, and $130 million in 2007, as part of an undisclosed quid pro quo arrangement. (Bloomberg)
Nile Therapeutics, Inc. Completes $3.4 Million Private Placement Jul 17, 2009
Riverbank Capital Inc., a FINRA member broker dealer acted as the exclusive placement agent for the transaction. "We are extremely pleased to have the completed this financing," said Joshua Kazam, Chief Executive Officer, "which we believe will provide us with sufficient capital to complete our Phase 2 clinical study of CD-NP in acute heart failure patients with mild to moderate renal insufficiency.". (PR Newswire)
SVB Financial Group Announces Date and Time of Quarterly Earnings Call Jul 17, 2009
The Company also offers funds management, broker-dealer services, asset management and a wide range of financial services for companies of all sizes and stages, as well as the added value of its knowledge and networks worldwide. Headquartered in Santa Clara, California, SVB Financial Group operates through 27 offices in the U.S. and five internationally in China, India, Israel and the United Kingdom. (PR Newswire)
The Huntington Investment Company Launches a New Independent Advisor Channel Jul 12, 2009
COLUMBUS, Ohio, July 10 /PRNewswire-FirstCall/ -- The Huntington Investment Company, a full service broker dealer, registered investment advisor, member FINRA/SIPC and wholly-owned subsidiary of Huntington Bancshares Inc., will launch a new independent advisor channel to be led by a 27-year veteran of the industry, Stan Evans. Evans has worked 27 years in the brokerage industry with the majority of those years spent successfully leading branch offices and regional geographies for major firms... (PR Newswire)
Obama proposes investor protections in wake of Madoff scandal Jul 11, 2009
The Obama administration also proposed a clampdown on broker-dealers, companies that can carry out trades on behalf of clients or for their own benefit. Currently, an investment adviser that is barred from practicing for financial misconduct can still become a broker-dealer ... The legislation also would declare that broker-dealers have a fiduciary responsibility to investors. (Fresno Bee -- Business)
For lease: Office with river views, Madoff stigma Jul 10, 2009
Since then, the trustee has sold one of Madoff's legitimate trading operations to a new broker-dealer firm that took over the 18th floor. A staircase connecting the 18th and 19th floors will be removed, Freeman said. (Muscatine Journal, IO)
For lease: Office space with river view, swindle stigma Jul 10, 2009
A broker-dealer firm took over the 18th floor. What remains is the 19th floor. (Boston Globe)
A Bull Market for Investment Scams Jul 9, 2009
The latest: A July 8 complaint against Sky Capital that alleges the New York broker-dealer and a predecessor firm were merely boiler rooms that bilked investors out of more than $140 million over the past decade. Founder and Chief Executive Ross Mandell, 52, and five middle-aged associates, who were led into court in handcuffs, could face 20 years in prison if convicted of fraud charges. (BusinessWeek)
Sky Capital fraud case has Boca Raton ties Jul 9, 2009
The indictment alleges that New York-based broker-dealer founder, President and CEO Ross Mandell, of Boca Raton, directed his brokers to use high-pressure sales tactics to purchase stock in two related companies Sky Capital Holdings Ltd. and Sky Capital Enterprises Inc. Sky Capital is also known as LLC.. The stock then became restricted and the investments eventually became worthless when the company was banned from trading on the London stock exchange, according to the indictment. (South Florida Business Journal, FL)
Bertelsmann and KKR Join Forces in the Music Rights Business Jul 8, 2009
KKR also carries out capital markets activities through its broker dealer subsidiaries. KKR has offices in New York, Menlo Park, San Francisco, Houston, Washington D.C., London, Paris, Hong Kong, Tokyo, Beijing, Mumbai, Dubai and Sydney. (Yahoo! Wire -- Entertainment News)
Invest Financial CEO steps down Jul 7, 2009
Jim Livingston, president of the broker-dealer network, which includes Invest Financial, will assume Niedermeier s responsibilities on an interim basis ... Invest Financial is a full-service broker-dealer. (Tampa Bay Business Journal, FL)
SmallCapSentinel.com Releases Watch List for This Week: MEXP, IBM, NFLX, GRMN, NTAP, EBAY and WMT Jul 6, 2009
IMI isn't an investment advisor, analyst or licensed broker dealer and this report isn't investment advice. IMI has been paid twenty-thousand dollars by Emerging Markets LLC a financial p.r. consultant to MEXP for this report and related advertising services. (PR Newswire)
Corporate Bonds Show Lehman Doesn't Matter as 9.2% Return Dwarfs U.S. Debt Jul 1, 2009
The easy money has been made, said , a managing director in the fixed-income trading department of closely held broker-dealer Wall Street Access in New York. You could have bought any corporate credit in January and February and made out like a bandit. (Bloomberg)
SEC: N.Y. investment firm misled S. Fla. seniors Jul 1, 2009
PCS is a registered broker-dealer and wholly-owned subsidiary of Gilman Ciocia, an income tax preparation business headquartered in Poughkeepsie that offers financial services in New York, New Jersey, Pennsylvania and Florida. Robert Heim, a NewYork attorney who represents Prime Capital, Gilman Ciocia, and several of the individuals, including Collins and Wells, said the conduct at issue in the complaint is "very old" and occurred in the late 1990s and early 2000. (South Florida Business Journal, FL)
Securities firm extends reach Jun 30, 2009
Actinver Securities, an SEC-registered broker-dealer, offers services such as portfolio management and financial advising and has some $300 million in assets under management in the U.S. ... Travis Larson, spokesman for the Securities Industry and Financial Markets Association, says the recession has adversely impacted the broker-dealer industry as it has all other markets ... Grupo Actinver began operating as a broker-dealer in 2004 with its acquisition of Mexican brokerage house Bursamex. (San Antonio Business Journal, TX)
