Daniel LeGaye – The LeGaye Law Firm, PC

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

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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

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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,...

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

Form ADV Part 2B Compliance Date Extended

As a result of the efforts of the Securities Industry and Financial Markets Association (SIFMA), the Securities and Exchange Commission (SEC) has extended the compliance date out four months with respect to the delivery of the…more

| Securities Law

FINRA Issues New Outside Business Activity Rule

New FINRA Rule 3270 (the Rule) replaces NASD Rule 3030, effective December 15, 2010. This change will have a significant impact on the compliance efforts related to outside business activities for member firms of the Financial…more

| Finance & Banking, Securities Law

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