What The New FINRA Supervisory Rules Mean For Your Brokerage Practices
PostMichelle L. Jacko wrote a Legal Tip for Jacko Law Group titled What The New Finra Supervisory Rules Mean For Your Brokerage Practices in September, 2014.… Read More
The Distinctions Between Sub-Advisory And Third-Party Asset Manager Arrangements
PostThe Legal Tip for Jacko Law Group titled The Distinctions Between Sub-advisory And Third-party Asset Manager Arrangements was written in August, 2014.… Read More
$729 Million Penalty Ordered by the SEC
PostAttorneys for Samuel E. Wyly (“Sam Wyly”) and his late brother Charles J. Wyly (“Charles Wyly”) (jointly, the “Wylys”) presented arguments to a U.S. District Judge disputing the amount the Wylys are being ordered to pay for their role in…
FINRA Accuses Wedbush Securities of Regulatory Violations
PostThe Financial Industry Regulatory Authority (“FINRA”) has filed a complaint through its Department of Market Regulation and Department of Enforcement against Los Angeles-Based brokerage firm, Wedbush Securities (“Wedbush”). The complaint charges Wedbush with systemic supervisory and anti-money laundering (“AML”) violations…
Misleading Statements to Customers to Transfer Their Assets Lead to Prosecution of Boston-based Investment Adviser
PostA Boston, Massachusetts Federal Court Jury has rendered a verdict against registered investment adviser Sage Advisory Group, LLC (“Sage”) and its principal Benjamin Lee Grant (“Grant”) in a civil fraud case filed by the Securities and Exchange Commission (“SEC”). The…
FINRA Creates Arbitration Task Force
PostThe Financial Industry Regulatory Authority (“FINRA”) has formed a 13-member Arbitration Task Force in an effort to “improve the transparency, impartiality and efficiency” of the arbitration process. Arbitration is a formal dispute resolution process for disputes and complaints arising out…
Former Hedge Fund COO Admits to Enabling Owner to Misappropriate Client Funds
PostPeter A. Jenson (“Jenson”), the former Chief Operations Officer of Harbinger Capital Partners, LLC (“Harbinger”), has agreed to settle fraud charges with the Securities and Exchange Commission (“SEC”) for aiding Harbinger’s owner, Phillip A. Falcone (“Falcone”), in the misappropriation of…
Communicating Regulatory Compliance Matters With Your CEO
PostMichelle L. Jacko wrote a Legal Tip for Jacko Law Group titled Communicating Regulatory Compliance Matters With Your CEO for July, 2014.… Read More
Fourth Anniversary of Dodd-Frank
PostThis July marks the fourth year since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). With the anniversary comes much debate surrounding the effects of the legislation and whether increased regulatory oversight is necessary. A…
Philadelphia-based private equity firm fined for Pay-to-Play
PostThe Securities and Exchange Commission (“SEC”) has brought its first case against a private equity firm for pay-to-play violations involving political campaign contributions to the governor of Pennsylvania and the candidate for Mayor of Philadelphia. The SEC also found that…