A new initiative with the Office of Compliance Inspections and Examinations (“OCIE”) at the Securities and Exchange Commission (“SEC”) is aimed at registered investment advisers who have never undergone examination by the SEC. According to a February 20, 2014 press…
A further turn in the arena of regulations toward client disclosures and agreements has taken place at the Financial Industry Regulatory Authority (“FINRA”), where a newly-approved rule on conditioning settlement agreements was detailed in a February 13, 2014 press release….
In a recent interview with Drew Bowden, the Director of the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (OCIE), he spoke to the mission, role and complications associated with operating the examination branch of the SEC…
The importance of adequate and effective Anti-Money Laundering (“AML”) programs should never be underestimated in the current US regulatory environment, as the Financial Industry Regulatory Agency’s (“FINRA’s”) January 28, 2014 announcement of penalties against the firm Banorte-Ixe clearly illustrates. The…
In his January 24, 2014 speech Securities and Exchange Commission (“SEC”) Commissioner Daniel M. Gallagher stated that “two issues that…should be at the very top of the SEC’s agenda”, a “revamping” of the SEC’s corporate disclosure system and a series…
Michelle L. Jacko wrote a Legal Tip for Jacko Law Group titled Gabelli V. Sec – Us Supreme Court Decision Defines Sec Enforcement Time Table in February, 2014.… Read More
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled Most Favored Nations Provisions: Benefit or Curse? in January, 2014.… Read More
The Securities and Exchange Commission (“SEC”) began the first month of the year 2014 with a range of new regulatory charges and fines issued against financial individuals and advising firms, including a portfolio manager formerly associated with a private equity…
Last year, the Securities and Exchange Commission (“SEC”) amended Regulation D of the Securities Act of 1933 (the “Securities Act”), by adding Rules 506(c), 506(d) and 506(e). As we have described previously, there are several considerations and requirements of Rule…
On January 7, 2014, a deferred prosecution agreement was released, describing the settlement between J.P. Morgan Chase & Co. (“J.P. Morgan”) and U.S. prosecutors regarding J.P. Morgan’s compliance failures in its dealings with Bernard Madoff (“Madoff”) and his firm Bernard…