Jacko Law Group, PC
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March 2012 Archives

BD Corner: Increased Fines and Harsher Penalties Imposed on Brokers and Principals by FINRA in 2011

In 2011, FINRA reported 1,488 disciplinary actions, up from 1,310 in 2010. Also significant, fines in 2011 jumped 51% in 2011, up from $45 million in 2010 to $68 million last year. 2011 fines, however, were far lower than the recent high water marks of $184 and $1111 fined by FINRA in 2005 and 2006, respectively. The number of individuals barred by FINRA also increased significantly in 2011, from 288 in 2010 to 329 in 2011, constituting an increase of more than 14%. The top areas of enforcement actions by FINRA in 2011 included:

Retirement On The Horizon? Start Planning Now

As the baby boomer generation careens towards retirement, many owners of investment advisory firms are thinking about succession planning for the first time. If you are among this group, it is never too early to begin the process of preparing for your eventual exit from the business. Plan Early The best first step in this process is to consult with one or more experts. Depending on the complexity of your business, you may want (or need) to engage an attorney, CPA, your own financial planner, a banker, a business valuation specialist, and/or even a psychologist to help manage family and other emotionally-fraught relationships intertwined with your business. Once the experts are engaged, the owner and his or her team of advisers must establish the owner's ultimate goals: his or her "end game." Some key information to collect and consider in setting these goals include:

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