Confidential To Lighthouse Employees: The Checks Are In The Mail

Broker dealer Lighthouse Financial Group, which includes prime brokerage unit Lighthouse Prime Services, has ceased trading, a source close to the firm tells FINalternatives. The New York-based firm has reportedly been unable to make payroll for weeks, and today it informed clients that they could no longer place trades through the firm—they could only sell assets. A different source close to the firm says that Lighthouse is in talks with a boutique firm that has eyes on becoming a much larger player and is making a bid for all of the divisions, and an announcement could come as early as this afternoon.