BDO USA (“BDO”), a national audit firm, and five of its partners are facing charges from the Securities and Exchange Commission (“SEC”) in relation to its client General Employment Enterprises (“General Employment”). According to an SEC press release, BDO ignored…
The Municipal Securities Rulemaking Board (“MSRB”) is seeking The Securities and Exchange Commission’s (“SEC”) approval to apply business-related gift-giving limitations to its municipal advisors. According to an MSRB press release, the goal of the proposed rule change to MSRB Rule…
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…
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled The Importance Of Outsourced General Counsel in June, 2015.… Read More
Jacko Law Group, PC (“JLG”) published its monthly Legal Risk Management Tip (“Legal Tip”), this April. JLG’s Legal Tip discusses whether anti-money laundering (“AML”) regulations apply to investment advisers, duties owed by investment advisers, and potential regulatory…
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…