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Alan Markfeld
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Dharmi is an excellent securities lawyer who understands the law as it pertains to these cases. She is extremely proactive and represents her clients well. I highly recommend Jacko and Dharmi.
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Danielle Martin
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I’ve had the privilege of working closely with this firm in my role as Chief Compliance Officer and I can confidently say they are an exceptional compliance partner. Their depth of experience is immediately evidentand they bring a level of practical knowledge. What I truly enjoy is their ability to translate complex regulatory requirements into plain English, often using real, everyday examples that make implementation far more manageable. They are also incredibly responsive and reliable. In a field where timing matters, their prompt communication and thoughtful guidance have been invaluable. If you’re looking for a compliance attorney who combines expertise, clarity, and professionalism, I highly recommend them.
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Curt Rocca
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Michelle and the team at Jacko Law Group have helped guide through a variety of critical circumstances as we ventured through the uncharted and unfamiliar territory of becoming and successfully operating as an RIA. I have particularly appreciated Michelle's personal involvement and genuine caring about us and our organization. She has been responsive and her counsel has been consistently on-point and helpful. She artfully guided us through our initial filing process and first SEC exam process - which went very well. Very grateful to Michelle and her team.
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Nicholas Di Paolo
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Michelle and her team were excellent to work with, front to back. They helped me to understand the challenges ahead and were always proactive in their consultation through every step of my transition. JLG truly know the wealth management industry very well and did a great job of understanding the challenges unique to my business. Without them, I can confidently say I would not have felt as comfortable through the transition as I did. Fortunately, that's not something that stops there - Michelle and her team have kept in touch to ensure that I'm on top of certain administrative issues, trends, and simply showing me that they care about my business and success. I look forward to continuing to work with them for many years to come.
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Margery Neis
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Dharmi Mehta was extremely helpful when my business partner and I transitioned to a new RIA firm. She and her staff were all very professional. Her guidance during our transition was invaluable. I highly recommend Dharmi and Jacko Law Group.
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Joseph Burwell
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Dharmi and Amandeep were a delight to work with. They assisted me with a claim and stuck with me the entire way through. Dharmi's advice was invaluable, and I was most impressed by her clear and professional communication. From beginning-to-end, both Dharmi and Amandeep kept me well informed. Their entire team are proud of their work and rightfully so. Thank you!
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Faruk Jaffer
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My mentor once told me that a good attorney is worth their weight in gold — and that couldn't be more true of Michelle and Amanda. Their expertise, professionalism, and responsiveness were top notch every step of the way. It's rare to find legal partners who are not only sharp and thorough, but also genuinely invested in your success. I’m grateful for their guidance and highly recommend them to anyone seeking trusted legal counsel.
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everistus etafo
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It is my great Privilege to share my Review of what Atty Dharmi Mehta of Jacko Law Group did for me and by extension for my family. From the first time complimentary conversation we had having spoken to several other Lawyers ,l knew she was the right person for the Job .Because of her background as a former RR ,she was professional,kind, Empathetic,listened and was focused on fighting for me. From a potential of been terminated with cause ,l was able to walk away with a clean U5 with a validation that l did nothing wrong except what was in the best Interest of my clients. I hope nobody ever has to go through what l have Experienced, but if you do ,you want Dharmi Mehta beside you .Rest assured your service Deserve 10 stars but this forum only allows 5. Me and my family are forever grateful and will make sure that any RR who needs an advocate will know about you . Everistus Etafo
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Karen Althaus
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I have worked with Jacko Law Group for 2 different business situations that necessitated an attorney. In both cases, the team was very thorough & competent. Their attention to our situation and the extra effort they put into our case(s) was very much appreciated. I would highly recommend Jacko Law Group!
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SEC Settles Touting Charges Against Celebrities Endorsing ICOs

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The principle of full disclosure in the marketing of virtual currencies is a recent focus of regulatory bodies as they slowly confirm that these cryptocurrencies are securities or investment products. In a Press Release dated Nov. 29, 2018, the Securities and Exchange Commission reported that it had settled charges with Floyd Mayweather, Jr., and Khaled Khaled (known as DJ Khaled) for failures to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs). These settled charges represent the SEC's first touting (attracting customers by illegal means) violations directly related to ICOs.

ICOs and Virtual Currencies May Be Securities

Mayweather and Khaled's problematic statements via social media came after the SEC issued its DAO (Decentralized Autonomous Organization) Report in 2017, which clarified and warned that tokens or other virtual products sold in ICOs could be considered securities, requiring all those who offer and sell those products in the U.S. to comply with all federal securities laws. Such clarification by the SEC brings into play laws which govern the marketing of securities in general, including:
  • Section 5 of the Securities Act of 1933, which mandates that the offer or sale of securities to the public must be accompanied by the full and fair disclosure necessary to enable prospective investors to make fully-informed investment decisions; and
  • The Advertising Rule, which prohibits the direct or indirect publishing, circulating, or distributing of any advertisement that contains any false or misleading statements.
The accused celebrities agreed to pay disgorgement, penalties, and interest, though neither admitted wrongdoing in either case.

SEC Officials: Be Wary of Celebrity Endorsements of Virtual Currencies and Other Securities

Comments by SEC Enforcement Division Co-Directors Stephanie Avakian and Steven Peikin provide important points of caution regarding investment marketing tactics:
  • Paid endorsements cannot be presented as unbiased recommendations; full disclosure to investors is an absolute requirement.
  • Investors must maintain a healthy awareness that social media influencers, including celebrities, are most often paid promoters, not qualified investment professionals.
  • As paid promoters, what these celebrities say on behalf of firms selling securities must comply with performance marketing standards.

Murky Waters Are Clearing: Virtual Currencies and Social Media

When we boil this down, the takeaway becomes simple: the cloudy landscapes of social media and virtual currencies are subject to securities regulation and enforcement, and the related rules and case law are quickly taking shape to educate market participants and drive compliance. In the ICO contexts, you should expect practices such as touting, improper use of testimonials, and the making of misleading or fraudulent statements to be subject to securities law standards and enforcement, regardless of the "virtual," digital, or online nature of the product being offered. Firms should have tailored and effective policies and procedures in place to govern the creation, review, and distribution of marketing information, including its use of celebrity testimony and social media. If you are concerned that your marketing materials or related processes and procedures fail to meet regulations or if you just want to revisit your current practices as regulations surrounding cryptocurrencies tighten, now is the time to act. Contact Jacko Law Group, PC, for any assistance you may require.

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Jacko Law Group provides tailored legal services and effective strategies for success, delivering exemplary solutions to complex legal and regulatory challenges to ensure that both business efforts and compliance obligations are satisfied.

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