As part of its 2015 Examination Priorities the Office of Compliance Inspections and Examinations (“OCIE”) included “examining matters of importance to retail investors and investors saving for retirement” to its initiatives. Based on this priority, the Retirement-Targeted Industry Reviews and…
The Securities and Exchange Commission (“SEC”) has charged a Wisconsin-based investment advisory firm and its owner with “cherry-picking.” Mark P. Welhouse of Welhouse and Associates, Inc. (“Welhouse”) has been accused of placing more favorable trades in his personal and business…
This May the Financial Industry Regulatory Authority (“FINRA”) made revisions to its Sanction Guidelines pertaining to misrepresentations and suitability. The Sanction Guidelines were developed for FINRA by The National Adjudicatory Council (“NAC”) to assist Hearing Panels and the NAC…
This March the Securities Industry and Financial Markets Association’s (“SIFMA”) Compliance and Legal Society Annual Seminar was held in Phoenix, Arizona. The seminar hosted over 300 industry experts who discussed the latest regulatory and compliance issues. This post will highlight…
The Securities and Exchange Commission (“SEC”) has approved the final rules to update and expand Regulation A (referred to as Regulation A+). Regulation A, part of Title IV of the Jumpstart our Business Startups (“JOBS”) Act, provides an exemption…
This March the Securities and Exchange Commission’s (“SEC’s”) national associate director of investment advisor and investment company exams at its Office of Compliance Inspections and Examinations (“OCIE”), Jane Jarcho (“Jarcho”), spoke at the Investment Advisor Association’s compliance conference in…
The Securities and Exchange Commission (“SEC”) has charged brokerage firm H.D. Vest Investment Securities (“H.D. Vest”) with failure to adequately supervise its registered representatives, which the SEC alleges led to a violation of key customer protection rules. H.D. Vest will…
This February the Securities and Exchange Commission’s (“SEC’s”) Division of Investment Management issued Guidance Update Number 2015-01 titled “Acceptance of Gifts or Entertainment By Fund Advisory Personnel — Section 17(e)(1) of the Investment Company Act.” The Update highlights potential…
Jacko Law Group, PC (“JLG”) published its monthly Legal Tip, written this January. JLG’s Legal Tip provides an overview of some of the new corporate laws affecting businesses. While this article is geared towards California…
Four individuals have been charged with insider trading by the Securities and Exchange Commission (“SEC”) in an alleged scheme involving two Silicon Valley-based companies. Christian B. Keller (“Keller”), a financial analyst employed by Applied Materials, Inc. and later Rovi…