March 22, 2010: Finra shuts down GunnAllen
Time has run out for the crippled broker-dealer GunnAllen Financial Inc. and its 400 reps and advisers, as regulators informed GunnAllen that the firm did not have enough capital to open for business. According to several sources with knowledge of the matter, the Financial Industry Regulatory Authority Inc. told GunnAllen it would be in a net capital violation as of Monday morning.
March 22, 2010: GunnAllen founders jumping to rival broker-dealer in wake of firm’s collapse
After watching the fall of GunnAllen Financial Inc. become official this morning, the firm’s founders —Donald James “Jay” Gunn and Richard Allen Frueh —are apparently moving to a rival broker-dealer.
Jan. 31, 2010: Progressive, GunnAllen march to altar
The big unknown surrounding Progressive Asset Management Inc.'s announcement last week that it is buying GunnAllen Financial Inc. is whether the socially conscious investment firm will acquire only GunnAllen's 700 reps and their assets or the legal entity of the independent broker-dealer.
Jan. 10, 2010:Embattled GunnAllen loses top-producing branch
Beleaguered broker GunnAllen Financial Inc. has lost a top-producing branch — the broker-dealer's first major defection since the resignations last month of its holding company's chairman and chief financial officer.
Dec. 13, 2009:Finra taking a hard look at GunnAllen's books
Finra officials last week were trying to determine if GunnAllen Financial Inc., already reeling from the abrupt departure of its holding company's chairman, has enough capital to stay in business.
Dec. 3, 2009: John Sykes quits GunnAllen board, CFO walks
GunnAllen Financial Inc. appears to be in serious disarray and faces questions about its future after its owner and chairman quit the company's board of directors.
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