Cantor Fitzgerald is in advanced talks to buy brokerage firm Seymour Pierce, the Financial Times reported on Wednesday, citing people familiar with the discussions.
Talks between the financial services firm and Seymour Pierce were continuing late into the night on Wednesday, FT reported.

The small-cap broker has been urgently seeking funds elsewhere after UK's Financial Services Authority blocked an investment from Denis Gorbunenko, a Ukrainian businessman.

The Financial Times reported Seymour Pierce had recently approached rivals such as N+1 Singer and Panmure Gordon and outside investors, but that Cantor is poised to buy the brokerage.

Seymour Pierce could not be reached for a comment.