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Regulation & ComplianceThe Death of a BrokerageThe Death of a Brokerage
Stanley Brooks was living the dream. With a $16,000 investment in 1990, Brooks built Brookstreet Securities of Irvine, Calif., into a $150 million revenue firm placing it among the top 25 independent broker/dealers. By 2007, the firm had amassed $8 billion in client assets and 680 registered reps. Along the way, Brooks picked up some black marks nine regulatory on his U4, eight of which were related