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Thursday Express: SEC fines Canaccord Genuity; Syncora to sell NY-based unit

* The U.S. Securities and Exchange Commission charged and fined Canaccord Genuity $250,000 for allegedly allowing the trading of multiple, thinly traded securities without conducting an appropriate review required by the federal securities laws.

* Sen. Elizabeth Warren, D.-Mass, called on Federal Trade Commission Inspector General Andrew Katsaros to investigate what she calls the FTC's "misleading description" of the benefits available to affected consumers under Equifax's data breach settlement. In its July web post, the FTC said consumers could request for either free credit monitoring or $125 in cash. But after millions of people asked for cash payment, the FTC is now telling those consumers that they would get an amount nowhere near the announced $125. In her letter to Katsaros, Warren said the $31 million set aside for compensation would pay only less than 1% of the 145 million people affected by the breach.

* Morgan Stanley backed out of its role in the IPO of coworking giant WeWork after the latter rejected its bid to be the top underwriter, sources told Bloomberg News.

* Nomura analysts led by Bill Carcache are predicting that losses will weigh on Goldman Sachs related to its credit card collaboration with Apple once the next economic recession sets in, CNBC reports.

* The Federal Housing Administration released its much-awaited final rule that allows certain individual condominium units to be eligible for FHA mortgage insurance even if the condominium project is not FHA-approved. Effective Oct. 15, the new policy aims to promote affordable, sustainable homeownership, especially for credit-worthy first-time buyers.

* Mercer Global Advisors acquired registered investment adviser Regent Wealth Management Group. The acquisition brings Mercer's AUM to more than $16.5 billion.

* Payment processing solutions provider Repay Holdings acquired e-payments firm TriSource Solutions for up to $65 million.

* On the insurance front, Syncora Holdings agreed to sell New York-based subsidiary Syncora Guarantee to Star Insurance Holdings for about $392.5 million in cash.

* Harvard Pilgrim Health Care and Tufts Health Plan will combine, with Harvard Pilgrim Health Care chair Joyce Murphy heading the board of the new organization, and Tufts Health Plan President and CEO Tom Croswell becoming the chief executive.

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