RCS Capital Corporation Provides Business Update

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RCS Capital (RCAP) Will Shutter Wholesale Distribution Business, Sell Mass. Securities Division

December 2, 2015 9:03 AM EST

RCS Capital (NYSE: RCAP) announced a series of actions designed to further accelerate its strategic repositioning to focus on the independent retail advice business, Cetera Financial Group ("CFG"), rationalize its capital structure, increase financial flexibility and position the Company for long-term growth.

Realty Capital Securities to Wind Down Wholesale Distribution Business

As part of its previously stated plan to transition RCS Capital to a retail-focused entity, the Company's Board of Directors (the "Board") has authorized plans to wind down the operations of Realty Capital Securities wholesale distribution business. The... More