The Securities and Exchange Commission’s (“SEC’s”) Division of Enforcement released its Annual Report (the “Report”) last month, which discusses enforcement cases for its fiscal year of 2019. According to the Report, the SEC filed 862 enforcement actions in FY 2019, resulting in disgorgements and monetary penalties of roughly $4.35 billion.… Read More
California Governor Gavin Newsom has signed five bills that will directly amend the California Consumer Privacy Act (CCPA). Signed into law by then-Governor Jerry Brown on June 28, 2018, the CCPA was designed to notify consumers that they can learn about their personal data that is being collected and sold or distributed to third-parties or affiliates and be given the opportunity to opt-out. The effective date of the CCPA is January 1, 2020, and the enforcement date will be on July 1, 2020.
Michelle Jacko and Tina Mitchell, wrote the article titled Performing Due Diligence and Oversight of Third-Party Service Providers which was published in the Wolters Kluwer Modern Compliance Volume II in 2017.… Read More
The outcome of a recent jury trial in Manhattan has underscored the importance of the Securities and Exchange Commission’s new Regulation Best Interest and the Commission’s ongoing commitment to enforcing the standard of investment suitability for retail clients.
One of the more complicated aspects of fiduciary responsibility rests with a firm’s ability to adequately identify and disclose potential conflicts of interest. What may not appear to be a conflict can nevertheless violate securities laws whether it be a material misstatement or omissions in reports filed with the Securities and Exchange Commission (SEC).
Michelle L. Jacko wrote the article titled Compliance Considerations for Advisory Firms With Dually Registered Advisors in the Independent RIA and Hybrid Business Models which was published in the Charles Schwab Compliance Review’s May 2011 issue. … Read More
Michelle L. Jacko wrote the article titled Are Your Employees Risking Your Business? which was published in the Bank Advisor Magazine’s September/October 2008 issue. … Read More
Michelle L. Jacko’s article, "Do Right by Our Men and Women in Uniform," was published in Bank Advisor Magazine’s March/April 2008 publication. … Read More
Michelle L. Jacko published the article titled The New Merrill Lynch Guidelines in the Bank Advisor Magazine’s January/February 2008 publication. … Read More
Michelle L. Jacko published the article titled Developments Under NASD Rule 3012 – Supervisory Control Systems in the National Society of Compliance Professionals (NSCP) Currents’ May/June 2006 publication. … Read More