A panel said Oppenheimer ignored an ex-advisor's Ponzi scheme. The firm wants to vacate the award.
Secretary of the Commonwealth William F. Galvin said the firm didn't properly oversee an agent's sales practices.
Nate Carlon is based in Scottsdale, Ariz., and is joining LPL's broker-dealer, RIA and custodian platforms.
Lido's chief executive said the team, led by Pete Morimoto, had around $1 billion in AUM.
California prosecutors said Tyler M. Rigsbee took almost $159,000 from elderly clients.
Amid bank turmoil and likely cash sorting, these funds gathered some $362.1 billion in March alone.
The team, reportedly led by Randy Peterson, had $23 million in 12-month revenue, a source said.
It also said it recruited in $13 billion in new advisor assets.
The founder of Scottsdale's DM Brown Financial Services oversaw $190 million at Cetera.
Randall B. Kiefner was arrested on April 5. He'd recently won an arbitration claim from Morgan Stanley.
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