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GPB broker-dealer shuts down amid fraud charges
Ascendant Alternative Strategies changed its official status with Finra to termination requested. Founders of GPB, David Gentile and Jeff Schneider were arrested and charged with fraud last month by the FBI.
March 1, 2021 2 MINS
The broker-dealer that primed the pump for much of the $1.8 billion in sales of GPB Capital Holdings private placements is shutting down.
That such an end would come to the broker-dealer, called Ascendant Alternative Strategies, is to be expected in the wake of the founders of GPB, David Gentile and Jeff Schneider, having been arrested and charged with fraud last month by the FBI. Gentile and Schneider also own the broker-dealer, Ascendant Alternative, which has offices in Austin, Texas and New York.
Advisers might want to consider the unique economic hurdles faced by women, two recent reports suggest.
It is well-documented that women are compensated at lower rates than men in similar roles and that they face the challenge of saving for longer retirements given their higher average life expectancies. But new research shows that Black and Latina women face greater financial challenges than white women, and that Covid-19 has hurt retirement prospects for women in general.
Reaching financial security can be more difficult for Black and Latina women in part because of lower overall wealth and a higher frequency of debt, a paper published last week by the TIAA Institute found. Contributing to those discrepancies are differences in education, employment, financial literacy and family structure.
Finra offers additional licensing exams online amid Covid-19
Finra will not require the documentation normally needed to obtain a testing accommodation. That will allow candidates to opt for an online exam if they’re reluctant to go to a test center.
February 26, 2021
Finra is allowing more licensing exams to be taken remotely in response to continuing social distancing concerns related to the coronavirus pandemic.
In an update on its website earlier this week, the Financial Industry Regulatory Authority Inc. said candidates can take Series 24, 57, 79 and 99 exams remotely if they make an interim accommodation request.
The request can be submitted online prior to scheduling an examination appointment. Finra will not require the documentation normally needed to obtain a testing accommodation. That will allow candidates to opt for an online exam if they’re reluctant to go to a test center.
SEC isn t dropping the hammer yet in Reg BI exams investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.