- Posts by Michelle L. Jacko, Esq.Managing Partner and CEO
Michelle L. Jacko, Esq. is the Managing Partner and CEO of Jacko Law Group, PC, which offers corporate and securities legal services to broker-dealers, investment advisers, investment companies, hedge/private funds and ...
In recent years, there has been a considerable increase in the number of financial advisors who are looking to break-away and transition to careers with registered investment advisory firms (“RIAs”) or even launching their own RIA seeking more independence, control, growth opportunities, and increased compensation.
On April 30, 2020, the Financial Industry Regulatory Authority (“FINRA”) celebrated the fifth anniversary of its Senior Help Line (the “Help Line”). The Help Line is a critical tool in FINRA’s initiative to combat financial exploitation of seniors and other vulnerable populations.
The U.S. Securities and Exchange Commission (“SEC”) recently announced settled charges against two advisers that self-reported conflicts of interest as a part of the Share Class Selection Disclosure Initiative.
The Securities and Exchange Commission (“SEC”) has announced that it will provide conditional regulatory relief for companies affected by the novel coronavirus (COVID-19).
One of the hallmarks of a fiduciary is following through on the service you promise to deliver, acting in the best interests of your client, and providing factual information.
MetLife, Inc. has agreed to pay a civil penalty of $10 million in order to settle charges from the Securities and Exchange Commission (“SEC”) that it violated the books and records and internal accounting controls provisions of the federal securities laws.
Advisory firms are encountering more competition than ever when it comes to building their client base. Many firms would make an additional spend on marketing and advertising strategies (including use of solicitors and social media to attract younger clients) but often are concerned about SEC regulatory scrutiny and limitations imposed on registrants.
California Governor Gavin Newsom has signed five bills that will directly amend the California Consumer Privacy Act (CCPA). Signed into law by then-Governor Jerry Brown on June 28, 2018, the CCPA was designed to notify consumers that they can learn about their personal data that is being collected and sold or distributed to third-parties or affiliates and be given the opportunity to opt-out. The effective date of the CCPA is January 1, 2020, and the enforcement date will be on July 1, 2020.
HCR Wealth Advisors agreed to a cease-and-desist order, a $220,000 penalty, and a $328,912 payment to its harmed clients in order to settle charges with the U.S. Securities and Exchange Commission (“SEC”). The SEC complaint alleged that HCR had failed to reasonably supervise and implement its own compliance-related policies and procedures in response to fraudulent actions by one of its former investment advisors.
In a noteworthy action resulting from a lack of action in monitoring client accounts, the U.S. Securities and Exchange Commission ("SEC") fined three Raymond James entities $15 million for failing to conduct promised suitability reviews for certain advisory accounts invested in unit investment trusts ("UITs").
- Top 3 Considerations During the Breakaway & Transition Process
- Succession Planning: Identifying a Successor
- California AG Submits Final CCPA Rules for Approval
- ICO To Return $25 Million to Investors
- SEC Charges Morgan Stanley Smith Barney with Providing Misleading Information to Retail Clients
- FINRA’s Senior Help Line: Celebrating 5 Years of Providing Protection
- How To Start: Are You Evaluating Your Firm’s Whistleblower Policies?
- Three Firms’ Failure to Disclose Conflicts of Interest Lead to Almost $1 Million in Disgorgement, Interest
- OCIE Risk Alert—Examinations Focused on Initial Compliance With Regulation Best Interest
- Lone Star Value Management Firm and Founder Pay to Settle SEC Disclosure Charges
- Securities and Exchange Commission (SEC)
- Investment Advisers
- Aging Clients
- Due Diligence
- Transition Services
- Broker Protocol
- Policies and Procedures
- Virtual Currency
- California Consumer Privacy Act (CCPA)
- Dodd-Frank Act
- Advisers Act
- Securities Law
- Office of Compliance Inspections and Examinations (OCIE)
- Ponzi Scheme
- Form U5
- Private Equity
- Private Funds
- Regulation Best Interest
- Hedge Funds
- Regulatory Examinations
- Personally Identifiable Information (PII)
- Government Shutdown
- Risk Alert
- Social Media Marketing
- Exchange-Traded Funds (ETFs)
- Investment Company Act
- Rule 6c
- Wells Fargo