Working with Outside Managers: Third-Party Asset Managers or Sub-Advisers – What is the Difference?

Investment advisers understand that selecting a portfolio which meets a client’s goals and objectives is a fiduciary duty. Sometimes, this involves working with outside managers such as sub-advisers or a third-party asset manager (“TPAM”) who have specialized investment management knowledge to further diversify a client’s portfolio investments. … Read More

Michelle Jacko to Speak at the NSCP Interactive Compliance Labs, Long Beach

Jacko Law Group Managing Partner Michelle Jacko will speak on Risk Management Beyond Assessment at the National Society of Compliance Professionals (NSCP) Interactive Compliance Labs. The event will be held on April 18, 2024, at the Pointe, California State University, Long Beach.  … Read More

Compliance Considerations for Adding ESG Assets to Your Client Portfolios

Investment Advisers who fail to adopt or acknowledge the societal mind-shift towards sustainability may lose out on potential investors.
Whereas such shifting trends may have been ignored several years ago, overlooking the importance of incorporating investments that adhere to responsible Environmental, Social, and Governance (ESG) practices may border on an investment adviser’s failure to act in the best interest of their investors.
However, it is advisable to take the necessary steps to mitigate risk when adding ESG investment assets to clients’ portfolios.… Read More

Risk Mitigation in Incorporating Emerging Tech Trends into Client Portfolios

Just as with many other sectors of the economy, the securities industry has experienced a fast-coming barrage of changes to the business of investing, most of all in emerging technologies.
Investment Advisers may have ignored the changes in technology several years ago, but those who provide investment advisory services can no longer avoid the fact that clients’ portfolio needs have evolved, and they may fail to act in the best interest of their investors should they overlook it. However, there are some important factors to consider when incorporating new types of assets into clients’ portfolios and steps to take to mitigate risks.… Read More

California to Implement NASAA Continuing Education Model Rule in 2024

In November 2020, the North American Securities Administrators Association (NASAA) introduced the Continuing Education Model Rule to help firms and practitioners in the investment advisory space better serve their clients and maintain regulatory compliance. NASAA, which is tasked with promoting excellence in the securities industry, has expanded to 19 member states who have pledged to protect investors and promote integrity in the business by facilitating ongoing education for IARs. California is one of several states who will adopt the Model Rule in the upcoming year. … Read More

How to Effectively Manage Your Cybersecurity Program

In the fast-paced and technology-driven landscape of the financial industry, managing cybersecurity risks is paramount. To ensure your organization’s legal compliance, and to safeguard sensitive data, it’s essential to maintain a robust incident response plan that is not only up to date but also routinely tested. In the financial industry, a reactive approach to cybersecurity is insufficient. To effectively manage legal risks associated with cyber threats, it is important to prioritize a proactive cybersecurity strategy.… Read More

Year-End Compliance Review Checklist for Advisory Businesses

Advisory businesses and professionals have experienced a lot of changes to regulations this past year, which has made it understandably challenging to remain compliant. With many regulations going into effect in 2024, and regulatory bodies’ commitment to enforcing those regulations, there is no time like the present to undertake a robust and comprehensive year-end review of your compliance program. … Read More

House Hearing on SEC’s Approach to Rulemaking

On November 2, 2023, the U.S. House of Representatives Financial Services Subcommittee on Capital Markets held a hearing on what was termed, ‘The SEC’s Agenda: Unintended Consequences for U.S. Capital Markets and Investors” to explore whether the enforcement actions and new proposals and regulations put forth by the SEC was inadvertently harming the market.… Read More

The New California Digital Asset Bill

What does the new Digital Financial Assets Law mean for firms and individuals in the investment advisory space?
Investment companies and investment advisers managing digital assets may be required to comply with regulations under the new Digital Financial Assets Law. Conversely, broker-dealers are exempt along with banks and technology network providers. In addition, the new law exempts individuals or entities who manage digital asset securities which is a digital financial asset pegged against government-backed currency.
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