Nine former advisors are suing United Capital over its attempts to move arbitration proceedings from FINRA to another venue, accusing the firm of “pure gamesmanship” and “forum shopping.”
The brokerage regulator settled two cases related to the SEC’s rule this week; one securities attorney believes FINRA has now established itself as the “primary regulator” of the rule.
Historically, the real estate investment manager relied on independent broker/dealers to reach private wealth. It wants to diversify both its distribution and its investment offerings.