Joshua is co-editor and a frequent contributor to Securities Compliance Sentinel, a blog that provides analysis of cutting-edge securities industry issues.
Joshua is co-editor and a frequent contributor to In the Weeds, a blog that aims to help keep today’s cannabis entrepreneur well informed.
Scroll down to see Joshua's most recent posts.
Recent Blog Posts
- FINRA’s Further Guidance On Seniors Nearly a year ago, FINRA adopted Rule 2165 (Financial Exploitation of Specified Adults) and amended Rule 4512 (Customer Account Information). This new rule and amended rule were ways to address the myriad of issues dealing with senior clients. With nearly a year gone by, FINRA has now published responses to frequently asked questions involving Rules 2165 and 4512. The responses to the FAQs are broken down into the following categories. Placement of temporary holds. Extensions of temporary holds. Trusted contact. Disclosure. For anyone who has any... More
- Takeaways From The SEC Investor Bulletin On Wrap Fee The SEC recently put out an Investor Bulletin on wrap fees. Although this guidance is steered toward consumers, there are lessons to be learned by firms who offer such programs. The SEC specifically posed the question of what does the fee cover. Included in that list of possibilities are: Investment advice. Brokerage costs. 24752961 – grunge rubber stamp with text disclosure,vector illustration Administrative expenses. Other fees and expenses like those associated with mutual funds. Third party service provider costs and trading away. So what can a firm take... More
- What FINRA Found in its Examinations FINRA recently issued a report regarding its examination findings. FINRA issued this report so that firms can gain insight from the work of FINRA’s examination of other firms. Among the FINRA’s findings are the following areas that need additional attention: Cybersecurity, including access management, risk assessments, vendor management, branch office security, segregation on internal duties and data loss prevention. Outside business activities and private securities transactions, including failure to provide notice to firms, notice reviews and post private securities transaction approval conduct. Anti-money laundering... More
- What’s The Deal With Branch Office Inspections? In Notice to Members 17-38, FINRA has put out for comment a change to Rule 3110 that would allow the remote inspection of certain “qualifying offices” as that term is defined by FINRA. In its Notice to Members, FINRA highlighted the point that technology and a changing industry mandate reconsideration of requiring mandatory, in-person inspections. A “qualified office” is an office that meets the following conditions: A location where there are no more than three associated persons that conduct business for the... More
- So Who Wants To Lie On Their U-4 The SEC recently upheld a statutory disqualification that FINRA imposed where the representative filed a false U-4 and falsely answered compliance questionnaires. It appears as though the registered representative failed to disclose tax liens and a bankruptcy on his U-4. So is statutory disqualification the proper punishment for this misdeed. According to FINRA and the SEC, the answer is a resounding yes and, unfortunately for the registered representative, this makes sense. After all, the U-4 is the lynchpin of what must... More
- So The SEC Is Now Focused On Retail Investors The SEC recently announced an enforcement initiative that will target retail investor harm. The agency’s task force will use data analytics to find widespread problems regarding fee disclosures and unsuitable investment recommendations. In addition to data analytics, the SEC will rely upon tips, complaints and referrals that come into the SEC. This heightened analysis of the retail investor market should be a wake-up call to firms who service the retail investor space. There are a few questions that you should be... More
- FINRA Changes To Arbitration Procedure FINRA is considering a number of changes to its arbitration procedure. For a good discussion on the subject, see this article.... More
- So You Think You Have No Cybersecurity Issues Recent exams have shown that cybersecurity weaknesses are a real issue for the industry. This article from the Investment News provides the detail. ... More
- Cyber-Security and the SEC Alert For a nice discussion on the SEC’s cyber-security alert, please see this link.... More
- Cybersecurity — What are you doing The SEC recently issued an alert for investment advisors regarding cybersecurity. Here is a link to a story on the alert. Are you doing enough to fight this risk? If you do not have an answer, then the answer is probably no. ... More
- Ransomware; don’t be held hostage Ransomware has become an ever increasing problem as we become more technology dependent. To learn more about it and how to avoid it, read this blog.... More
- Jennifer Benda Speaks About IRC Section 280E And IRS Enforcement On May 10, 2017, our partner, Jennifer Benda, will be speaking at a Colorado Bar Association event in Denver. She will be presenting an overview of federal taxation of marijuana, as well as a discussion of IRS enforcement issues for marijuana companies. For more information, call 303-860-1115, X727 ... More
- Who Wants The 411 On 420 If you want to learn more about what states permit the medical or adult use of cannabis, check out our national survey on cannabis law which is updated on a weekly basis. Here is the link. Happy 420.Copyright: arinabodorina / 123RF Stock Photo... More
- New York Opening Up To Expand Access To Medical Cannabis New York has recently taken steps to increase access to medical cannabis. Our colleague, Eric Bixler, recently blogged on this issue. Check the blog out here.... More
- Chicago Tribune’s Review Of The Cannabis Law Practice The Chicago Tribune recently ran an article regarding the practice of cannabis law, and quoted our partner, Bill Bogot; check out the article here.... More