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…
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled Beware The Pitfalls Of Using Finders in December, 2014.… Read More
Michelle 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 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…
The 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…
This 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…
Patricia S. Miller (“Miller”), a former representative of Investors Capital Corp. (“ICC”) and Janney Montgomery Scott (“Janney”), was indicted on charges of orchestrating a $2.5 million fraud of 20 clients beginning in 2002. According to the Criminal Complaint issued by…
The Securities and Exchange Commission (“SEC”) recently charged Rafferty Capital Markets (“Rafferty”) with illegally facilitating trades for an unregistered broker-dealer. A May 15, 2014 SEC press release details how Rafferty settled an SEC-charged penalty of $850,000 for perpetrating “illegally arranged…
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….
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…