• 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 ...

Three Things You Need to Know When Forming an RIA

The formation of a registered investment adviser (“RIA”) can be both an exciting and daunting process. On the one hand, the opportunity for financial professionals to achieve independence and the prospect of increased revenues as an independent RIA is an attractive possibility.

Top 3 Considerations During the Breakaway & Transition Process

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.

FINRA’s Senior Help Line: Celebrating 5 Years of Providing Protection

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.

Three Firms’ Failure to Disclose Conflicts of Interest Lead to Almost $1 Million in Disgorgement, Interest

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.

SEC Grants Regulatory Relief for Firms Affected by COVID-19

The Securities and Exchange Commission (“SEC”) has announced that it will provide conditional regulatory relief for companies affected by the novel coronavirus (COVID-19).

An Important Lesson About Marketing Materials and Risk

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.

Internal Control Failures Cost MetLife $10 million in SEC Settlement

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.

Inside the SEC’s Proposed New Rules for Financial Advisor Advertising

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 Signs CCPA Amendments, Privacy Related Bills into Law

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 Advisors Settles SEC Charges on Failure to Supervise and Implement Compliance-Related Policies and Procedures

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. 

Recent Posts

Topics

Archives

Contributors

Jump to Page

This website uses cookies to enhance your browsing experience and improve functionality. By continuing to browse this website, you are accepting our use of cookies in accordance with our privacy policy.