But RCAP became mired in controversy in October 2014, when Schorsch's REIT company announced a $23 million accounting error. In November 2015, a unit of the company, Realty Capital Securities, was charged by Massachusetts' top securities regulator with fraudulently casting shareholder proxy votes. RCAP subsequently filed for Chapter 11 bankruptcy at the beginning of 2016. RCAP emerged from bankruptcy and reorganization in May 2016 as a private company with fresh capital and a new name, Aretec—Cetera spelled backward. At that time, Cetera announced that Investors Capital Corp., one of its b/ds, would be merged with Cetera Advisors, and VSR Financial would merge with Summit Brokerage Services. Summit was closed in 2019 and converted into an office of supervisory jurisdiction of Cetera Advisor Networks.