Call Today for a Consultation

San Diego 619-298-2880 San Francisco 415-766-3599 Los Angeles 213-631-2549

Understand. Define. Achieve.

Uniquely situated to offer comprehensive services to registered investment advisers, securities broker-dealers, hedge funds, financial professionals and organizations of all sizes.

Jacko Law Group Blog

Social Media Sites Making Compliance Easier for Users

Back in January, the Securities and Exchange Commission (“SEC”) issued guidance regarding Registered Investment Adviser’s (“RIA’s”) use of social media in a National Examination Alert, Investment Adviser Use of Social Media (the “Alert”). Part of the Alert dealt with third-party content – specifically stating how “likes” and comments from third-parties on social media websites may be interpreted as improper testimonials prohibited by Rule 206(4)-1(a)(1) of the Investment Advisers Act of 1940.

Read More

Regulators Continue Focusing on Anti-Money Laundering Violations

Recent settlements continue to show how regulators are cracking down on Anti-Money Laundering (“AML”) violators of all shapes and sizes. This week HSBC, Europe's largest bank by market value, agreed to a settlement after facing accusations it transferred funds through the U.S. from Mexican drug cartels and on behalf of nations such as Iran that are under international sanctions. The settlement - $1.9 billion, or 9% of the company’s 2012 profits, is the largest penalty ever imposed on a bank. Additionally, another British Bank - Standard Chartered PLC, signed an agreement with New York regulators this week for $340 million to settle a money-laundering investigation involving transactions it undertook with funds from Iran.

Read More

FINRA Seeking Further Disclosure & Promotion of “BrokerCheck” Program

Recently, the Financial Industry Regulatory Authority (“FINRA”) has requested the Securities and Exchange Commission (“SEC”) to approve amendments to Rules 2267 and 8312, which would increase disclosure requirements and promotion of their BrokerCheck program.

Read More