ALPHARETTA, GA / ACCESSWIRE / April 3, 2023 / RushNet, Inc (OTC PINK:RSHN), (the "Company") announces FINRA Denial of Planned Spin-Off. The management of RushNet, Inc. is disappointed to announce that
A Hornor, Townsend & Kent broker pitched "Future Income Payments" that turned out to be part of a $300 million scheme targeting veterans, investigators said.
The independent firm told financial advisors that selling their own practices without a greenlight from the corporate office could draw FINRA scrutiny.
But the Securities and Exchange Commission's best-execution proposal, largely dismissed as duplicating an existing Financial Industry Regulatory Authority edict, could have wide-ranging implications for trading firms in options, bonds, and crypto securities as well as equities.
The SEC's case against a barred former broker shows why regulators and the industry often struggle to catch repeat offenders before they harm investors again.