Law firm run by former SEC chairman scrutinized internal audits after previously criticizing Opco’s corporate governance, management and compliance programs.
Veteran Rick Wisely steps aside as producing manager Kevin Friedman takes over.
Company’s brokerage force falls even as it incentivizes a top executive to recruit $300,000-plus producers.
Firm, which reduced its brokerage force by 5% last year, expects to save $2.6 million of annual interest by redeeming 20% of its 8.75% senior secured notes.
With the loss of four advisors servicing credit union accounts, Cantor has a skeleton wealth-management crew.
In latest of series of sanctions, regulator cites multiple reporting, arbitration and sales violations.
Former Oppenheimer and Morgan Stanley broker pled guilty to scheme that ran almost four years and netted more than $5.6 million.
State also orders firm to alert clients to “information about your transactions with an Oppenheimer professional that you need to know.”
Alleges that former Oppenheimer Chief Compliance Officer Allen Holeman falsified U-4 forms.