Daniel LeGaye – The LeGaye Law Firm, PC

FINRA Enforcement Sanctions Increased

FINRA, through The National Adjudicatory Council (NAC), publishes the Sanction Guidelines. The Sanction Guidelines is used to assist FINRA's adjudicators in determining the appropriate sanctions in disciplinary proceedings. …more

FACTA Update

The Foreign Account Tax Compliance Act (“FATCA”) has resulted in significant changes in the reporting and withholding requirements of financial institutions, including broker-dealers and investment advisers that represent…more

FINRA FINRA Rule 8210 Reassessed for Obtaining Routine Information

Member of the professional staff of The LeGaye Law Firm, PC attended FINRA’s 2014 National Conference in Washington DC this week. While there are many issues discussed, one important point is related to the procedural changes…more

FINRA Announces Proposed Rules for Limited Corporate Financing Brokers

In late February, the Financial Industry Regulatory Authority (“FINRA”) released Regulatory Release 14-09, and requested public comment on the proposed rules (the “LCFB Rule Set”) for a new category of broker-dealer called the…more

M&A Brokers Exempted From SEC Broker-Dealer Registration

The Securities and Exchange Commission (“SEC”) has changed its long-held view that persons receiving transaction-based compensation in connection with facilitating the acquisition and or sale of a company must register with the…more

Broker-Dealer & Investment Adviser Renewal Update for 2014

On November 11, 2013, FINRA posted the online Preliminary Renewal Statements on Web CRD and Web IARD, which commenced the 2014 renewal season for broker-dealers and investment advisers. The Renewal invoices are now on CRD and…more

Minor Rule Violations are on the SEC Enforcement Agenda

Historically, the enforcement actions brought by the Securities and Exchange Commission (“SEC”) have focused more on fraud and misrepresentation, than on books and records violations or compliance professionals. Mary Jo White,…more

New Regulatory Guidance Impact Business Continuity Planning for the Financial Industry

As a result of recent natural disasters, a number of the regulators that oversee the securities industry have jointly issued guidance regarding the business continuity or disaster recovery plans (BCPs) of broker-dealers and…more
| Administrative Law, Mergers & Acquisitions, Securities Law

Amendments to Financial Responsibility Rules for Broker-Dealers Impact Net Capital

On July 31, 2013, the Securities and Exchange Commission (SEC) announced amendments to Financial Responsibility Rules for Broker-Dealers (Release No. 34-70072; File No. S7-08-07). The rule amendments become effective October…more
| Administrative Law, Finance & Banking, Mergers & Acquisitions, Securities Law

FINRA Rules Governing Communication with the Public Undergo Reorganization

The FINRA rules governing communications with the public have undergone significant changes with the approval of FINRA Rule 2210 (“Rule”) by the Securities and Exchange Commission (“SEC”). The Rule was submitted to the SEC by…more
| Administrative Law, Finance & Banking, Securities Law

Update on FINRA Financial Rules

Annual Audited Financial Report Submission The Financial Industry Regulatory Authority (FINRA) announced in Regulatory Notice 11-46 that commencing November 8, 2011, member firms having a fiscal year end on or after September…more
| Finance & Banking, Mergers & Acquisitions, Securities Law

FINRA Clarifies Investment Banking Qualifications

The Financial Industry Regulatory Authority (FINRA) recently issued a Frequently Asked Questions (FAQ) release on the qualifications necessary to engage in investment banking activities, and it is apparent that membership…more
| Administrative Law, Securities Law

FINRA Implements the Operations Professional Designation

After substantial debate and comments between FINRA and its membership, FINRA recently issued Notice to Members 11-33 and notified membership that covered persons will have to qualify and register as an Operations Professional,…more
| Administrative Law, Finance & Banking, Mergers & Acquisitions, Securities Law

SEC Extends Broker-Dealer Reliance on Investment Advisoer CIPs

The SEC recently issued a No-Action Letter that extends the ability for a broker-dealer to treat an investment adviser as if it were subject to an Anti-Money Laundering Program (AML Program) and rely on the investment adviser to…more
| Finance & Banking, Securities Law

FINRA Posts Policy for Annual Financial Audit Extension Requests

The FINRA policy related to the granting of extensions for the filing of annual financial audits contains a significant shift in its policy with respect to the length of extension that it will grant. The Annual Audit Extension…more
| Securities Law
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The Woodlands, TX 77380, United States

  • 281-367-2454
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Areas of Practice
  • Business Organizations
  • Securities Law
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