January 12-13th, 2017
Each year, the National Institute draws elite officials from both the U.S. Department of Justice and the U.S. Securities and Exchange Commission for an exclusive educational and professional forum to examine current legal and ethical issues relating to securities fraud.
Attorney Brent R. Baker will be moderating the panel "The Impact of Anti-Money Laundering, Know Your Customer and SAR Rules" at the 11th Annual National Institute on Securities Fraud, on January 12th at 9:00 am.
The panel will address Broker-dealers, Investment Advisors, transfer agents and other registered entities who are constantly grappling with AML procedures, KYC rules and knowing when to and when not to file Suspicious Activity Reports. FINRA, the SEC and DOJ are all watching closely, and the ramifications for non-compliance are severe, including multi-million dollar sanctions, time away from the industry and potentially jail. Experts from both sides will elucidate what gets the regulators attention and what clients can do to avoid the spotlight.
Further information and registration can be found here.
Grand Summit At Canyons Village
4000 Canyons Resort Dr Park City, UT 84098-6546
December 6, 2016
The SEC has been increasingly aggressive in bringing enforcement actions against those involved in transactions with unregistered broker-dealers. Recently, the SEC has imposed sanctions on private equity firms and managers for using unregistered broker-dealers. The SEC is also closely scrutinizing unregistered broker-dealer issues in its OCIE compliance exams of private investment funds.
Furthermore, fund managers and companies can be subject to SEC enforcement actions for aiding and abetting a finder’s violation of the broker-dealer registration requirements. In addition to SEC sanctions, the use of an unregistered broker-dealer brings the risk of rescission under federal and state securities laws.
These events show that involving finders in capital raising brings significant risks, and there is no safe harbor or clear distinction of a finders duties in the securities laws.
The SEC and FINRA have issued some guidance to clarify the distinction between a legally-operating finder and an unregistered broker-dealer. This guidance includes no-action letters, rules and interpretations for M&A brokers, investment platforms and crowdfunding participants. Further regulatory action also seems likely.
The panel will discuss these issues, analyze the legal pitfalls and provide practical guidance. For example, the panel will address the following questions:
• What activities require broker-dealer registration with the SEC and FINRA?
• What penalties and actions do issuers face in using unregistered broker-dealers in their capital raising efforts?
• How do the SEC and FINRA’s guidance on finder activities in the M&A arena inform the permissible activities of finders in the securities and fund arenas?
After the presentation, the panelists will engage in a live question and answer session with participants so they can answer questions about these important issues directly.
For more information or to register visit the website or call 1-800-926-7926 ext. 10
Ask for Use of Unregistered Finders to Solicit Investors on 12/6/2016
Mention code: ZDFCT
November 18th, 2016
Little America Hotel
500 Main Street
Salt Lake City
November 18, 2016
Attorney Lisa Marcy will be presenting with Dominic Gianna on "Mastering the Art and Science of Advocacy and Persuasion" at the Puerto Rico Labor Relations Board.
September 16, 2016
Attoney Katherine Judd will be co-presenting with Jim Brooks, Human Resource Director of the Central Utah Water Conservancy District, at the American Water Works Association Intermountain Section Annual Conference, on “The Hats Utility/Water Managers Wear: Resolving Personnel Issues.”
The Dixie Center
1835 S Convention Center Dr.
September 9-10, 2016
Attorney Christopher Snow will be presenting at the Invincible Startup – Growth Conference on "Rookie Mistakes: Avoiding the Top 5 Legal Pitfalls for Startups."
City Creek Marriott
75 South West Temple
Salt Lake City, UT