JLG Legal Risk Management Tip – The Importance of Strategic Transition and Business Succession Planning
Considerations that Businesses Should Keep in Mind Prior to Implementing a Transition and Business Succession Plan…
FINRA Fines Five Firms for Failure to Waive Mutual Fund Charges
Five Broker-Dealers Ordered to Pay $18 Million in Restitution for Failing to Wave Class A Mutual Fund Share Charges…
Whistleblower Awarded $325,000 from the SEC
The Securities and Exchange Commission (“SEC”) paid out an award totaling more than $325,000 to a former employee of an investment firm for supplying them with information regarding fraudulent activities at his former firm including specific information regarding the individuals…
Massachusetts Registered Investment Adviser Charged with Fraud
Family Endowment Partners, L.P. (“FEP”), a Massachusetts registered investment adviser, and its owner Lee Dana Weiss (“Weiss”) have been accused of violating the antifraud provisions of the federal securities law and related Securities and Exchange Commission (“SEC”) antifraud rules. Furthermore,…
JLG Succession Planning Checklist
Succession planning, particularly related to retirement planning, transitioning to a new business model, or merging with a new team, can be complicated. JLG has created the following checklist to assist you navigate through various considerations. …
NASAA Reports State Securities Regulators Took 2,042 Enforcement Actions in 2014
According to the North American Securities Administrators Association (“NASAA”) 2015 Enforcement Report on 2014 Data (the “Report”), state securities regulators conducted 4,853 investigations in 2014 resulting in $405 million in restitution, $174 million in fines and 1,629 years in prison…
Three California Men Charged with Fraud Relating to Real Estate Investment Scheme
According to a Securities and Exchange Commission (“SEC”) complaint filed in Riverside County, California, Paul Ricky Mata (“Mata”), David Kayatta (“Kayatta”) and Mario Pincheira (“Pincheira”) are accused of violating the antifraud provisions of Section 17(a) of the Securities Act of…
Legal Risk Management Tip – August 2015: Considerations for Advisors Within the Hybrid Model
Over the past few years, more and more firms are diversifying services and products. In an effort to support this business development and attract new talent, broker-dealers (“BDs”) are permitting associated persons to affiliate with independent, non-affiliated investment advisory firms…… Read More
Audit Firm Admits to Issuing False and Misleading Audit Opinions
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…
MSRB Seeks to Change Gift Rules
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…