- Posts by Robert D. Conca, Esq.Partner
Robert D. Conca is a Partner at Jacko Law Group, PC. His practice includes representation of investment advisers, broker-dealers, private funds, and non-financial industry companies, and their personnel, in a variety of ...
Financial advisers and broker-dealers should conduct thorough and frequent reviews of their clients’ holdings in certain Chinese companies now that a November Executive Order that prohibits new U.S. investments in companies with alleged ties to China’s military has taken effect.
The U.S. Securities Exchange Commission’s has issued its new modernized Advertising Rule that is intended to replace the existing Advertising and Cash Solicitation Rules. The SEC release relating to the new Advertising Rule is a 430 page behemoth that will create a significant change to the manner in which advisers conduct their advertising and marketing activities.
In general, small businesses tend to be more vulnerable in an economic downturn because they lack the financial cushion many larger companies have. Since the creation of the Federal Reserve System in 1913, large businesses have benefited from a more favorable regulatory framework and from liquidity backstops that the Fed has used to fortify weakness in financial markets.
The COVID-19 pandemic has decimated small business at an unprecedented rate and sent the U.S. unemployment rate to its highest level since the Great Depression, reaching a high of 14.7% in April 2020.
On August 14, 2020, Xavier Becerra, the Attorney General for California (“the AG”), announced that the final package of regulations for the California Consumer Privacy Act (“CCPA”) was approved by the California Office of Administrative Law (“OAL”).
On July 10, 2020, the U.S. Securities and Exchange Commission (“SEC”) released proposed changes to the rule requiring institutional managers to file Form 13F reports.
The changes include raising the reporting threshold from $100 million to $3.5 billion and eliminating the exclusion of smaller positions from the Form 13F report.
On June 1, 2020, Xavier Becerra, the Attorney General for California, submitted the final package of regulations for the California Consumer Privacy Act (“CCPA”) to the California Office of Administrative Law (“OAL”). For businesses required to comply with the CCPA, the package outlines the requirements for privacy notices, methods for submitting requests to know and delete consumer information, verification of consumers, special rules regarding minors, and non-discrimination.
As firms work to prepare their updated disclosures and move toward compliance by June 30, 2020 with the new Regulation Best Interest (“Reg BI”), the Securities and Exchange Commission (“SEC”) made two important announcements. As a reminder, Reg BI establishes a new standard of conduct for broker-dealers and their associated persons when making a recommendation of any securities transaction or investment strategy involving securities (including account recommendations) to a retail customer.
Lone Star Value Management LLC (“Lone Star”) and its owner Jeffrey Eberwein settled with the Securities and Exchange Commission (“SEC”) over charges that it executed 21 trades without disclosing they were principal trades.
On January 24, 2020, the Securities and Exchange Commission (“SEC”) charged a California-based couple with orchestrating a seven-year, nearly billion-dollar Ponzi scheme involving alternative energy credits through their solar generator companies.
- The Advantages of Outsourcing Your General Corporate Counsel
- The Many Recent Signals that Foreshadow a More Aggressive SEC in Terms of Enforcement Action and Stiffer Penalties for Wrongdoers
- New SEC Climate Change and ESG Task Force to Enhance Investor Protection by Red Flagging Examples of Corporate Greenwashing
- What Investment Advisers Must do to Qualify for the DOL’s Prohibited Transaction Exemption for IRA Rollovers
- SEC Division of Examinations Cites Enhanced Focus on Business Continuity Processes, Protection of Retail Investors and ESG-Related Risks Among its 2021 Priorities
- FINRA Report Suggests Growing Need for Enhanced Risk Management in Cybersecurity and Outside Business Activities
- Deadline Approaching: Considerations for Your Form ADV
- Leveraging JLG's Latest Service: Real Estate
- Safeguarding Your Firm Against Fraudulent or Improper Recognition of Revenue
- New Advisers Act Advertising Rule to Undergo Further Review
- Securities and Exchange Commission (SEC)
- Investment Advisers
- Regulatory Examinations
- Policies and Procedures
- Due Diligence
- Social Media Marketing
- Transition Services
- California Consumer Privacy Act (CCPA)
- Aging Clients
- Advisers Act
- Virtual Currency
- Dodd-Frank Act
- Ponzi Scheme
- Office of Compliance Inspections and Examinations (OCIE)
- Broker Protocol
- Securities Law
- Form U5
- Private Equity
- Private Funds
- Hedge Funds
- Regulation Best Interest
- Personally Identifiable Information (PII)
- Government Shutdown
- Risk Alert
- Exchange-Traded Funds (ETFs)
- Investment Company Act
- Rule 6c
- Wells Fargo