This week the president of FINRA’s office of dispute resolution, Linda Feinberg, announced the SRO will open its arbitration forum to registered investment advisers. The statement was made at the annual meeting of the Public Investors Arbitration Bar Association where…
Last month FINRA announced SEC approval of new FINRA Rule 5123. The Rule requires each FINRA member firm selling securities in a private placement to file a copy of any private placement memorandum, term sheet or other offering documents with…
In a news conference this week, North American Securities Administrators Association (“NASAA”) President and Arkansas Securities Commissioner Heath Abshure sharply criticized the SEC’s proposed rule allowing marketing of private offerings. Mr. Abshure, who was joined in the conference by Cristina…
The California Court of Appeal recently struck a post-employment non-competition provision in an employment agreement which was part of a broader acquisition deal. The opinion, Fillpoint, LLC v. Mass (August 24, 2012), demonstrates California’s strong public policy in favor of…
Jacko Law Group P.C. (“JLG”) wrote the article titled “Best Execution and the Investment Adviser: Policies and Procedures to Meet the Obligation” which was published by Thomas Reuters Accelus on October 3, 2012.… Read More
On September 21, 2012, Governor Brown signed Senate Bill 323 (Vargas) (the “Bill”) into law. Specifically, Section 20 of the Bill adds the California Revised Uniform Limited Liability Company Act (“RULLCA”) to the Corporations Code to govern the formation and operation…
Last month, the California Court of Appeal in San Francisco issued an opinion in Lickiss v. Financial Industry Regulatory Authority explicitly permitting courts across the state to use an equitable balancing test in order to determine whether a broker’s CRD…
Jacko Law Group P.C. (“JLG”) wrote the article titled Trading Compliance which was published in the Charles Schwab Compliance Review’s September 2012 issue. … Read More
Yesterday the Securities and Exchange Commission instituted administrative proceedings against nationally syndicated radio personality and author Raymond J. Lucia. Lucia is the owner of Raymond J. Lucia Companies, Inc., a former federally registered investment adviser doing business as RJL Wealth…
Michelle L. Jacko wrote a Legal Tip for Jacko Law Group titled How Compliance Failures Can Lead To Enforcement in September, 2012.… Read More