The U. S. Securities and Exchange Commission Division of Investment Management recently published an Information Update to provide clarification regarding filing certain Form ADV Part 1A amendments. On August 25, 2016, the Commission adopted amendments to Form ADV that have…
In August 2016, the SEC adopted amendments to Form ADV Part 1A, pursuant to Final Rule Release No. IA-4509 (Form ADV and Investment Advisers Act Rules). These changes are designed to provide additional information related to an advisers’ separately…
In December 2015, the Fixing America’s Surface Transportation Act (the “FAST Act”) was signed into law by President Obama. Among other things, sections 74001 and 74002 of the FAST Act amended two provisions of the Investment Advisers Act of…
Whether you are an investment adviser in the private sector or one of the SEC’s own employees, the Commission will not hesitate to charge you with securities fraud if they determine you have committed misconduct, regardless of your association….
Beginning in the spring of 2010 and continuing through 2013, Serofim Muroff and his companies, Blackhawk Manager, LLC and ISR Capital, LLC, sold securities in Blackhawk Gold, LLC and Quartzburg Gold, LLC, to over 280 foreign investors through the…
Robo-advisers are registered financial advisers who use mathematical rules or computer algorithms to provide financial advice or portfolio management online. This recent trend, which requires very little human interaction, has the potential to impact the competitive landscape in the…
After six years of planning and intense effort, which included solicitations of input from the industry and investor advocates, the Department of Labor’s (“DOL”) Conflicts of Interest rule was released in April 2016 (the “Final Rule”). Among other things, the…
On February 2, 2017, the SEC charged Sentinel Growth Fund Management, a Connecticut-based investment advisory business, and its owner with stealing investor money to settle a private lawsuit among other expenditures….
Earlier this month, John Rafal, former president and CEO of Essex Financial Services, Inc., admitted wrongdoing and agreed to pay more than $575,000 in settlement charges. According to the SEC, the Connecticut-based investment adviser defrauded a client, attempted to…
Michelle L. Jacko wrote a Legal Tip for Jacko Law Group titled 2017 SEC Examinations Focus Areas in January, 2017.… Read More