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RCS Capital, parent of Cetera, has bankruptcy plan confirmed

May 24, 2016
May 19 2016, 3:51pm EDT | By Ann Marsh | Financial Planning
A federal judge has confirmed the bankruptcy plan for RCS Capital, Cetera Financial Group’s parent, clearing the way for RCS to emerge from Chapter 11 bankruptcy protection in the near future.

“All requirements for confirmation of the plan have been satisfied,” Judge Mary Walrath of the U.S. Bankruptcy Court in Wilmington, Del., ruled.

Her decision marks the beginning of the end of a nightmare for most of the 9,000 Cetera brokers who were snapped up in an acquisition spree over the past several years by RCS’ former executive chairman and nontraded REIT kingpin Nicholas Schorsch.

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!