On January 5, 2016, FINRA published their 2016 Regulatory and Examination Priorities Letter (the “Letter”). Many of priorities discussed had appeared on previous examination priority letters. However, there were several notable new additions to this year’s Letter that warrant…
In its latest press release, the SEC announced that J.P. Morgan’s (JPMS) brokerage business agreed to pay $4 million to settle the claim that they made false statements in their marketing materials and on their website. The incorrect materials…
The SEC’s challenges in implementing their own cybersecurity protocols could be similar to your firm. On December 16th, Commissioner Luis A. Aguilar of the Securities and Exchange Commission (“Commission”) released a public statement titled “Being a Responsible Steward: Ensuring…
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…
According to a Financial Industry Regulatory Authority (“FINRA”) complaint, Aegis Capital Corp. (“Aegis”), a New York-based retail and institutional broker-dealer, was found to have committed securities-related misconduct during its time as a FINRA member. FINRA has charged Aegis with…
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…
Jacko Law Group P.C. (“JLG”) wrote an article titled The Dangers of Recidivism and the SEC’s Compliance Initiative which was published in the Thomson Reuters Accelus newsletter on March 30, 2015. … Read More
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 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,…