Senators cited concerns about whistleblower awards and Regulation Best Interest during the SEC Chairman's testimony before the Senate Banking, Housing and Urban Affairs Committee.
The "holding company" for broker/dealers said Aurora Private Wealth would have more access to capital as a result of the deal, which was revealed during the MarketCounsel Summit.
The acquisition of Rodman Capital Management is the latest in a number of recent acquisitions MAI has made since accepting a minority investment from Wealth Partners Capital Group in 2017.
Massachusetts Secretary of the Commonwealth William Galvin originally sought public comments on a proposed fiduciary standard in June as a response to the SEC’s passage of Regulation Best Interest.
Thomas M. Bowers was the direct supervisor of Deutsche Managing Director Rosemary T. Vrablic, who has been named as the private banker involved in President Trump's business dealings with the bank.
Any challenge would focus on the RIA custody business, analysts said, even as CEO Walt Bettinger downplays their market position. 'Folks are running away a little bit with these assumptions around percentage of RIA...