M. Jacko
Managing Partner and CEO

Michelle L. Jacko, Esq.

Managing Partner and CEO

Michelle L. Jacko, Esq. is the Managing Partner and CEO of Jacko Law Group, PC (“JLG”), which offers securities, corporate, real estate, and employment law counsel to broker-dealers, investment advisers, investment companies, hedge/private funds and financial industry professionals. In addition, Ms. Jacko is the Founder and CEO of Core Compliance & Legal Services, Inc., a compliance consultation firm.

Ms. Jacko specializes in investment adviser, broker-dealer, investment company and private fund regulatory compliance matters, internal control development, regulatory examinations, transition services, and operational risk management. Her consultation practice is focused on the areas of regulatory exams and formal inquiries, investment and merger and acquisition transactions, exit and succession planning, annual reviews, policies and procedures development, testing of compliance programs (including evaluation of internal controls and supervision), mock exams, senior client issues, cybersecurity, Regulation S-P, and much more.

Over the years and through a transformative market, Ms. Jacko has also developed service solutions throughout her practice, focusing on regulatory, compliance, commercial and corporate strategic solutions for the financial industry. Her practice focuses on formations and registration of broker-dealers, investment advisers and funds and platforms associated with each of these business models.  She focuses on transition and succession planning for companies, spearheading Jacko Law Group’s mergers and acquisitions practice area. She aligns her legal team to directly apply experienced legal acumen and business-savvy foresight to assist clients navigate and traverse the breakaway, formation, and growth plan for their corporation’s continued achievement, expansion, and upward trajectory.

Throughout this process, Ms. Jacko uses her 27 years of regulatory compliance experience to provide risk mitigation strategies to businesses.  She provides her clients with risk assessments, annual reviews and gap analysis, and serves as lead attorney for SEC and FINRA enforcement matters, regulatory formal inquiries, and regulatory examinations.  She has developed a practice that successfully helps our clients to be prepared for examinations through meticulous preparations, including mock interviews, compliance program document reviews, and counsel to members of senior management and interfacing with regulators throughout the process.   She frequently provides counsel on Chief Compliance Officer liability issues, assists advisors with regulatory reporting of disciplinary events and customer complaints, provides counsel on various representative onboarding and exit considerations and drafts complex agreements and client disclosure documents.

Utilizing an unparalleled service with a visionary strategy, Ms. Jacko’s counsel contributes to client success. She fosters trust amongst her team and has forged a path for JLG’s growing and multifaceted merger and acquisition practice, general corporate counsel services and regulatory compliance practice areas.

As a frequent presenter at national financial industry conferences, Ms. Jacko delivers insightful and thought-provoking workshops regarding industry hot topics and rising compliance issues. She is a frequent contributor to various industry journals and publications, including Barron’s Advisor, Charles Schwab, Investment Adviser Association’s IAA Today, National Society of Compliance Professionals’ CurrentsLawyer Monthly MagazineThomson Reuters, and more.  She also is a featured author in Modern Compliance, Vol. 1 and 2.

Ms. Jacko served as the former Vice-Chair of Education of the Corporations Committee for the State Bar of California Business Law Section and is a two-time Board member alumn of the National Society of Compliance Professionals. She is the Co-Founder and a member of the Southern California Compliance Group and also is a FINRA Arbitrator. Ms. Jacko is a member of Vistage International and actively participates in her community.

JLG and Ms. Jacko are proud to be members of the National Women Business Owners (NABWO) Corporation.

Throughout her career, Ms. Jacko has established herself as an influential leader, both locally and industry-wide. She has received numerous accolades and recognitions for her contributions, impact, and thought leadership. Since 2019, she has been selected as a finalist for San Diego Business Journal’s (SDBJ) CEO of the Year Award (2019-2022). She has also been selected for inclusion for the SDBJ’s 2022 Women of Influence 50 over 50, 2021 -2022 Women of Influence in Law SDBJ’s 2018-2022 Business Woman of the Year, 2020-2022 San Diego 500 Influential Business Leaders Award, 2020-2022 SD500, and prestigious 2020 Most Admired CEO Awards. Alongside the many awards from the SDBJ, Ms. Jacko  also was selected as a finalist for San Diego Magazine’s 2020–2021 Influential Women: Woman of the Year Award and was honored as a finalist for the 2019 NAWBO Bravo Awards - San Diego. International magazine CEO Today also selected Ms. Jacko as one of the 2019 and 2020 Business Women of the Year Awards. She also received Acquisition International magazine's Global Excellence Awards: Most Influential Woman in Securities Law 2019–2020 - San Diego, and locally was selected by San Diego Metro as one of the 12 Women of Influence in San Diego, CA.

Before starting both companies, Ms. Jacko previously served as Of Counsel at Shustak & Partners, PC. Prior to that, she was Vice President of Compliance and Branch Manager of the Home Office Supervision team at LPL Financial Services, Corporation (Linsco/Private Ledger). She also served as Legal Counsel of Investments and Chief Compliance Officer at First American Trust, FSB and held the position of Compliance Manager at Nicholas-Applegate Capital Management. In addition, Ms. Jacko was with PIM Financial Services, Inc., and Speiser, Krause, Madole & Mendelsohn, Jackson.

Ms. Jacko received her J.D. from St. Mary’s University School of Law and B.A., International Relations, from the University of San Diego. She is admitted to the State Bar of California and United States District Court, Southern District of California. Michelle holds NSCP’s Certified Securities Compliance Professional (CSCP) designation and is a member of the National Association of Women Lawyers (NAWL).

In addition to her many accomplishments, Ms. Jacko is also dedicated to giving back to her community and charitable organizations. Throughout the years she has dedicated her time and efforts to numerous organizations, including the Autism Tree Project, Wounded Warriors Project, the ASCPA, the San Diego Food Bank, School of the Madeleine and more. She also supports whenever she can the military community.  It is her dedication to her team, her practice and her community that has laid the foundation for JLG’s impact and continued growth and success.

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Mergers & AcquisttionsPrivate Equity & Private Fund ServicesSEC/State: Regulatory Compliance Services
SEC Charges Investment Bank Junior Analyst with Insider Trading
Blog Regulatory Compliance
September 24, 2019

The Securities and Exchange Commission (“SEC”) charged 23-year-old junior analyst Bill Tsai at an international investment bank with insider trading.

Tsai, who worked at the bank’s New York office, allegedly learned in March 2019 that an affiliate of private equity firm Siris Capital Group intended to acquire Electronic for Imaging, Inc. (EFI) (NASDAQ: EFII) when Siris consulted with the bank for financing advice on the transaction.

Read the SEC Press Release Here.

The analyst, who was responsible for creating and circulating a confidential internal document called the “pipeline report,” began including the information about the Siris Capital Group plans and its expected close date in his March 13 pipeline report.

Tsai purchased 187 EFII call options between March 29 and April 12, 2019, spending a total of $28,410. He had never previously traded EFII securities, and the purchase was his largest personal investment in any stock option.

EFI, a global technology company based in Freemont, Calif., published a press release announcing the $1.7 billion cash deal on April 15, 2019, sharing that the purchase price of $37.00 per share in cash, a 45 percent premium over the company’s 90-day-volume-weighted average price ended on April 12, 2019.  Tsai then sold all of the options for $127,160, a $98,750 profit. 

The SEC charges allege that Tsai violated the antifraud provisions of the federal securities laws. The Commission seeks disgorgement of ill-gotten gains plus interest, penalties and injunctive relief in its ongoing investigation.

The SEC compliant shows that Tsai received five separate company trainings between the time he joined the company as an intern in July 2017 and November 2018. Those trainings, as well as his offer letter and other documents he received from the firm, informed Tsai that he potentially would be privy to information including potential mergers, acquisitions and restructurings, and explicitly explained his duty to maintain confidentiality and refrain from using non-public information in any type of securities transactions.                                                                                          

Tsai’s employer further required that its employees disclose all brokerage accounts, complete all trades through one of the company’s approved list of broker-dealers, and submit any planned securities trades for pre-approval through the bank’s compliance department. Though Tsai acknowledged receipt and knowledge of these policies, he allegedly attempted to hide his illegal activity from his employer by specifically marking ‘No’ on a document asking if he owned any unauthorized brokerage accounts, concealing all of his transactions from his employer.

In addition to the SEC charges, Tsai is also being charged criminally by the U.S. Attorney’s Office for the Southern District of New York.

How to Prevent Insider Trading at Your Firm

The SEC requires that firm policies and procedures be reasonably designed to prevent insider trading.  This includes educating associated persons about what insider trading is and how to prevent it.  

Jacko Law Group, PC can assist your firm in developing or reviewing your compliance team’s trainings, as well as assess supervisory controls, employee acknowledgement forms, forensic tests and other documents to help ensure that your employees are well versed about how to prevent insider trading and handle confidential non-public information if it comes into one’s possession. Contact the attorneys at Jacko Law Group, PC, to learn more about our services. Let our experience work for you.

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