Jason Doss is the owner of The Doss Firm, LLC, an Atlanta-based law firm devoted to representing consumers across the country in a variety of areas including investment disputes and consumer class action litigation. Mr. Doss earned his J.D. from Florida State University in 2002 and his B.A. from the University of Florida in 1997.

FINRA Still Urges Regulatory Harmonization for Brokers and Investment Advisors

On March 14, 2013, in a speech that took place in Washington D.C., FINRA’s Chairman and Chief Executive Richard Ketchum continued to echo FINRA’s position for uniform regulatory harmonization for broker dealers and investment advisors. Mr. Ketchum stated his support for uniform regulations for brokers and investment advisors beyond only instituting a single uniform fiduciary…

Mary Jo White to “Crunch Numbers” Before Crafting SEC’s Fiduciary Duty Rule

On March 4, 2013, we published a blog entitled SEC Requests Comments and Information to Assess Standards of Conduct and Other Obligations of Broker-Dealers and Investment Advisors, that detailed the SEC’s request for comments on the its possible uniform fiduciary duty. On March 12, 2013 at Mary Jo White’s confirmation hearing before the Senate Banking…

SEC Charges Private Equity Firm, Former Executive, and Consultant for Improperly Soliciting Investments

On March 11, 2013, the SEC charged New York-based private equity firm Ranieri Partners, one of its former senior executives, and an unregistered broker with securities law violations for illegally soliciting more than $500 million in capital commitments for funds managed by the firm. William M. Stephens was the unregistered broker. Donald W. Phillips was…

Oppenheimer Advisors Face Charges of Misleading Investors in Oppenheimer Global Resource Private Equity Fund

Recently, the SEC charged two investment managers at Oppenheimer & Co. with misleading investors about the valuation policies and performance of a private equity fund, Oppenheimer Global Resource Private Equity Fund I L.P. (OGR). Additionally, on March 11, 2013, the Massachusetts Attorney General’s office announced a related action and additional financial penalties against Oppenheimer. According…

Illinois State Bar Issues Opinion Regarding Non-Lawyer Representation in FINRA Arbitration

The Illinois State Bar Association recently issued an opinion stating that a non-lawyer’s representation of parties in a FINRA arbitration generally constitutes the unauthorized practice of law. This opinion arose from an inquiring attorney who served as the chair of an FINRA arbitration panel. The arbitrator presided over a dispute between customers and a brokerage…

SEC Proposes New Rules, Regulation SCI, to Improve Systems Compliance and Integrity

On March 7, 2013, the SEC unanimously proposed new rules to require certain key market participants to have comprehensive policies and procedures in place surrounding their technological systems. The new rules would provide “more explicit technology and control standards to help ensure that our markets remain resilient against technological vulnerabilities.” The SEC’s proposal, called Regulation…