The Securities and Exchange Commission has charged broker-dealer Oppenheimer & Co. (“Oppenheimer”) with two courses of misconduct relating to its customer, Gibraltar Global Securities (“Gibraltar”). Oppenheimer has admitted to the wrongdoing which resulted in a $10 million fine. Oppenhiemer…
The Securities and Exchange Commission (“SEC”) has approved The Financial Industry Regulatory Authority, Inc.’s (“FINRA”) proposed Rule 3110 (e). The rule was proposed last September and will go into effect July 1st, 2015. It will require broker-dealers to perform…
When a registered investment adviser representative breaks away to form a new company or to work for a new employer, several issues may arise. The type of access the representative has to client lists and information should be considered. …
In a case that exemplifies the importance of proper registration prior to initiating operations, HSBC’s Private Bank (“HSBC”) settled the Security and Exchange Commission’s (“SEC”) charges for failing to register before providing cross-border brokerage and investment advisory services to…
The Legal Tip for Jacko Law Group titled California 2015 Outlook: New Laws That May Affect Your Business was written in January, 2015.… Read More
The U.S. Securities and Exchange Commission “SEC” recently announced that Karol L.K. Pollock is now the new leader of the examination program in the Los Angeles Regional Office. Ms. Pollock has worked in the Los Angeles office for 10 years,…
Private funds commonly use third parties, often known as finders, to raise capital from potential investors. When entering into arrangements with finders, private fund managers should carefully consider whether the finder is registered as a broker-dealer. Except in very…
In its newly released financial report for fiscal 2014, the SEC has stated that they will be evaluating recommendations from a staff report to consider a uniform fiduciary standard for investment advisors and broker-dealers as well as finding ways to…
The Legal Tip for Jacko Law Group titled Benefit Corporations – A New Avenue Available For Mission-driven Corporations was written in September, 2013.… Read More
Michelle L. Jacko wrote a Legal Tip titled Proposed Taxation of Offshore Investments in April, 2009.… Read More