Sentences with phrase «rcs capital»

Another company he founded, RCS Capital Corp, said it was closing its wholesale brokerage, Realty Capital Securities, and laying off 150 employees.

Less than a week after sister company American Realty Capital Properties (ARCP) announced a $ 23 million accounting error, Nicholas Schorsch's RCS Capital Corp. (RCAP) said it has terminated its agreement to acquire non-traded REIT sponsor Cole Capital from ARCP.

«We believe the negotiation of a fixed - cost settlement clearly outweighs the potential expense and distraction of a drawn - out litigation process, enabling us to focus on the execution of our proven business strategy,» said Michael Weil, CEO of RCS Capital, in a statement.

Contrary to published reports, Pershing never suspended sales of products distributed by RCS Capital.

Schorsch, executive chairman of RCS Capital (RCAP), jumped into the independent broker / dealer space with his purchase of First Allied Securities and The Legend Group, with 1,500 advisors, in June 2013.

RCS Capital said Monday it expects to complete its bankruptcy case during the second quarter of 2016.

«We emphasize to the advisors and institutions we support that we do not expect the proposed restructuring of RCS Capital to impact the existing deferred compensation plans or other related compensation plans at Cetera, which are expected to remain in effect in their current form,» Roth added.

RCS Capital (RCAP) said Monday it intends to file for prearranged Chapter 11 bankruptcy by the end of the month and has negotiated a $ 150 million investment from its lenders to keep Cetera Financial Group's doors open.

And last month, Moody's Investors Service downgraded RCS Capital's corporate credit rating from B3 to Caa1 with a negative outlook.

«The purpose of the Chapter 11 filing is to improve RCS Capital's balance sheet and capital structure by eliminating certain non-core assets and liabilities,» the company said, in a statement.

RCS Capital, ARCP's sister company run by Schorsch, distributes 14 American Realty - affiliated products through its wholesale broker / dealer.

RCS Capital Corp. said it was contacted by the Financial Industry Regulatory Authority and the Securities and Exchange Commission after accounting errors were disclosed at American Realty Capital Properties Inc..

Private equity asset manager Apollo Global Management said Monday it has tweaked its previously announced deal to buy the wholesale broker / dealer business of RCS Capital, which includes a wholesale distribution arm and retail advice division, for...

American Realty Capital Properties (NASDAQ: ARCP) has filed a lawsuit against RCS Capital Corp. (NYSE: RCAP) over RCAP's termination of the deal to acquire Cole Capital.

«Schwab and National Financial Services, Fidelity's clearing arm, have lifted their suspension on sales of products distributed by RCS Capital (NYSE: RCAP).

«The recent purchase of RCS Capital shares by management and other executives underscores this fact as we firmly believe the company's current market valuation does not properly reflect the business's robust fundamentals and significant competitive advantages.»

«Management's unwavering confidence in the long - term value of RCS Capital's platform, its people, its customers and the strong growth prospects of the business have never been in question,» said Andrew Backman, managing director of investor relations and public relations at RCS.

Weil's move comes just a day after former hedge fund manager Steven Cohen boosted his family office's stake in RCS Capital to about 5 percent.

With the recent troubles surrounding RCS Capital (RCAP) and its sister company American Realty Capital Properties, many advisors at RCAP broker / dealers are questioning the stability of their parent company.

Nicholas Schorsch's RCS Capital (RCAP) announced it will buy Cole Capital from sister company American Realty Capital Properties for $ 700 million, so Cole can use the company's wholesale broker / dealer and expand RCAP's distribution...

American Realty Capital Properties has settled with Nicholas Schorsch's RCS Capital over its lawsuit related to RCAP's termination of the deal to acquire Cole Capital.

Not exact matches

Legal information: President and COO: Naoki Katashima Registration: 487 663 320 RCS Lyon Share capital: 50,000,000.00 euros

That company was created by Nicholas Schorsch, RCS's chairman and biggest shareholder, and chairman of American Realty Capital Properties as well.

A Boston - based unit of RCS, Realty Capital Securities, also received a subpoena on Nov. 7 from the Securities Division of the Massachusetts Secretary of the Commonwealth asking for «certain documents and other materials» from the beginning of the year to the present related to sales of some nontraded REITs and similar products affiliated with AR Capital LLC.

Realty Capital Securities, LLC («RCS»), member FINRA / SIPC is a wholesale broker dealer focused exclusively on the distribution of non-traded investment programs.