Company Overview of Rodman & Renshaw, LLC
Rodman & Renshaw, LLC operates as a subsidiary of Rodman & Renshaw Capital Group, Inc. On January 11, 2013, Rodman & Renshaw, LLC filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the Southern District of New York. It is in joint administration with Direct Markets Holdings Corp.
1251 Avenue of the Americas
New York, NY 10020
Key Executives for Rodman & Renshaw, LLC
Managing Director of Investment Banking Group
Compensation as of Fiscal Year 2013.
Rodman & Renshaw, LLC Key Developments
Rodman & Renshaw, LLC Advises it is No longer in Compliance with the SEC's Net Capital Rule 15c3-1 to Financial Industry Regulatory Authority, Inc
Sep 12 12
On September 12, 2012, the Direct Markets Holdings Corp.'s broker-dealer subsidiary, Rodman & Renshaw, LLC, advised the Financial Industry Regulatory Authority, Inc. ("FINRA") that it was no longer in compliance with the SEC's Net Capital Rule 15c3-1, and, accordingly, that such subsidiary would cease conducting its securities business, other than liquidating transactions, unless and until it can achieve compliance with the rule. The broker-dealer is exploring all options, including the filing of a Form BDW to terminate its broker-dealer license and the sale of certain of its assets to affiliated or unaffiliated parties including an entity controlled by Michael Vasinkevich, a founder of Direct Markets Holdings Corp. and its former vice chairman.
Financial Industry Regulatory Authority Fines Rodman & Renshaw $315,000 for Supervisory and Information Barrier Violations
Aug 22 12
The Financial Industry Regulatory Authority, Inc. (FINRA) announced that it has fined Rodman & Renshaw, LLC $315,000 for supervisory and other violations related to the interaction between the firm's research and investment banking functions. Rodman's former CCO, William A. Iommi Sr., was fined $15,000, suspended from acting in a principal capacity for 90 days and must requalify as a general securities principal. FINRA found the firm's supervisory system was deficient, which resulted in at least two incidents where a research analyst participated in efforts to solicit investment banking business, and another incident where a research analyst attempted to arrange a payment from a public company. FINRA sanctioned the two research analysts involved; Lewis B. Fan was fined $10,000 and suspended for 30 business days for violating NASD Rule 2711 by participating in efforts to solicit investment banking business from two public companies, and Alka Singh was fined $10,000 and suspended for six months after FINRA found that she attempted to arrange a concealed fee from a public company for which she provided research coverage.
pSivida Corp. Enters into Placement Agent Agreement with Rodman & Renshaw, LLC
Aug 2 12
On August 1, 2012, pSivida Corp. entered into a placement agent agreement with Rodman & Renshaw, LLC in which they agreed to serve as placement agent in an offering of pSivida’s common stock, par value $0.001 per share, together with warrants to purchase shares of pSivida’s common stock. Under the terms of the transaction, pSivida is offering to sell 2,494,419 shares of common stock and warrants to purchase 623,605 shares of common stock to institutional investors for gross proceeds totaling approximately $5.36 million. The sale is being made pursuant to a securities purchase agreement between the company and the investors. Each warrant is exercisable for 0.25 of a share of common stock, has an exercise price of $2.50 per share and will be exercisable during the period commencing six months after the date of issuance and ending five years from the date of issuance. The offering is expected to close on or about August 7, 2012, or on such later date as the Company and the investors may agree, subject to customary closing conditions.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|