The damage from Massachusetts latest action against sales of non-traded REITS by independent broker-dealers may not be fatal, but it should cause firms to reconsider their sales strategies, say industry observers.
Five IBD firms agreed to pay nearly $10 million in restitution and fines in a settlement announced Wednesday by William F. Galvin, Secretary of the Commonwealth of Massachusetts.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access