Archive 2017

Private Equity Reporting on New Form ADV - May 2017

By: Robert Conca, Esq., Partner

Robert ConcaOver the past few years, private equity compliance has been a focus of the Securities and Exchange Commission's ("SEC") Office of Compliance Inspections and Examination ("OCIE"), and has been the topic of a variety of public speeches and comments from senior SEC personnel. Not surprisingly, private equity advisers have remained a top SEC Examination Priority during that time period. Read More

What You Need to Know About Expungement: Part I - Apr. 2017

By: David Sobel, FINRA Specialist

David Sobel HeadshotThe bane of every registered person is a bad mark on their Central Registration Depository ("CRD") or BrokerCheck reports. This mark can be caused by a number of things, but it is predominantly the result of a customer complaint. If you have been a registered representative for any number of years, the likelihood of receiving one of these complaints increases. As soon as a customer complaint is received, whether by you or your firm, it must be reported to FINRA. Once shared with FINRA, it is entered onto your BrokerCheck file. Read More

What RIAs Should Focus On In 2017: Regulatory Hot Topics - Mar. 2017

By: Robert Boeche, Esq., Sr. Associate

Robert Boeche Headshot 1New regulatory developments seem to occur with ever-increasing frequency. The past twelve months in particular have seen a bevy of new rules, regulations and guidance that will have significant impacts on the daily practices of advisers. With so much new information being promulgated by regulatory bodies, it could be quite easy to miss ones that could have a substantial impact on your business. Read More

Fleischer v. Commissioner - What Does it Mean for Businesses? - Feb. 2017

By: Robert Conca, Esq., Partner

Robert ConcaOn December 29, 2016, the United States Tax Court handed down a decision in the case of Fleischer v. Commissioner of Internal Revenue which focused on the tax issue of whether Mr. Fleischer or his wholly-owned S-Corporation ("S-Corp") had to report the earned income that was at issue in the case. In addition to the tax issues, the decision provides additional guidance relating to some often misunderstood issues regarding entity formation, structure and operations that relate directly to small businesses, including a large number of financial industry advisers. Read More

2017 SEC Enforcement Cases: A Year In Review - Jan 2017

By: Robert Boeche, Esq., Sr. Associate

Robert Boeche Headshot 1Each year, the SEC's Office of Compliance Inspections and Examinations ("OCIE") publishes an examinations priorities letter so that its registrants will know of those areas that are of particular focus and are deemed potentially higher risk. On January 12, 2017, the SEC released its priorities,1 which continue to focus on protection of retail investors, servicing retirement and elderly investors and assessment of market-wide risks. Read More