Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, March 23, 2010

Massachusetts Issues Subpoenas to Broker-Dealers Over Private Placements

Massachusetts securities regulator William Galvin yesterday issued subpoenas to six brokerage firms concerning sales of participations in private placements marketed by Medical Capital Holdings Inc. and Provident Royalties LLC, seeking information on due diligence efforts, suitability data and promotional materials.  The firms are QA3 Financial Corp., National Securities Corp., CapWest Securities, Independent Financial Group, Investors Capital Corp., and Centaurus Financial.  InvNews, Six broker-dealers subpoenaed over private placements.

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