Consider joining FSDA member firm Bressler Amery & Ross at this event!

7 Surefire Ways to Get Sued by Your Client or Fined by Your Regulator (and how to avoid them!)

Join us for an exclusive and complimentary seminar for investment advisers with a networking cocktail hour to follow and CFP credits!

This seminar will focus on how to survive in today's litigious environment and what to do if it happens to you. Our speakers will discuss how to avoid regulatory investigations, RIA business structuring, litigation protection, succession planning, Regulation BI and other hot topics!

DATE: Thursday, July 18, 2019

TIME: 4:30 PM - 6:00 PM with networking cocktail hour to follow immediately after

LOCATION: One Biscayne Tower Veritext Legal Solutions, 2 South Biscayne Blvd Suite 2500 - The Arbitration Room Miami, FL 33131

RSVP: Email your RSVP to: events@bressler.com

The Senior Safe Act became federal law on May 24, 2018. The Senior Safe Act does not mandate any action by financial institutions and regulators. However, for financial institutions and certain eligible employees (discussed below), affiliated persons, and associated persons (“eligible employees”), who satisfy its requirements, the Senior Safe Act provides immunity from liability in any civil or administrative proceeding for reporting potential exploitation of a senior citizen.  For further information on the Senior Safe Act visit https://www.sec.gov/news/press-release/2019-75

Senior citizens may lose nearly 25 times more to scammers than what is reported, according to a report by Comparitech, a consumer research organization based in the U.K.

Instead of the 200,000 cases of elder financial abuse that are reported annually to U.S. authorities, the actual number may be as high as 5 million, with losses of $27.4 billion a year, not the $1.17 billion that is officially reported, said Paul Bischoff, researcher and editor of Comparitech, which focuses on consumer issues in the United States, Canada and the United Kingdom.

 https://www.fa-mag.com/news/elder-financial-abuse-much-worse-than-reported-44422.html

FSDA was a proud contributor at the SIFMA’s Private Client Conference held April 10-12, 2019 in Naples, Florida. The conference brought together leaders from across private wealth management to examine the most topical issues facing the business.  

FSDA attendees shared best practices with some of the industry’s senior leaders and extolled the virtues of the FSDA, including its important mission to advocate on behalf of the industry and provide education opportunities for its members and Florida's investing public.

Jodi Perry, President of the Independent Contractor Division of Raymond James Financial Services, a FSDA Institutional member, was one of many dynamic panelists.   Jodi’s panel, “The “Only” Experience: What Can We Do? Taking Responsibility for Shaping the Future,” tackled different angles on the gender diversity conversation and shared innovative strategies that are pushing diversity to the top of the Industry agenda.

Conference attendees included leaders from the following FSDA member firms: Edward Jones, Merrill Lynch Wealth Management, Bank of America Merrill Lynch, Baird, Raymond James & Associates and Morgan Stanley.

The FSDA and its members have been working to protect vulnerable seniors. Check out the latest legislative developments.
https://www.tallahassee.com/story/news/2019/03/26/bill-aims-protect-seniors-bad-investments/3276032002/

FSDA is a proud supporter of SIFMA’s Private Client Conference to be held April 10-12, 2019 in Naples, Florida. The conference brings together leaders from across private wealth management to examine the most topical issues facing the business.  

FSDA will have a sponsor table which will connect FSDA’s brand to attendees and help build relationships with decision makers in the private-client markets with face-to-face networking opportunities. Attendees from past Private Client Conferences included leadership from the following firms: Broadridge Financial Solutions, Inc., Charles Schwab & Co., Inc., Deloitte, Dow Jones & Co Inc., Federated Investors, Fidelity Clearing & Custody Solutions, Hearsay Systems, IBM Corp, Merrill Lynch & Co. Inc., PwC, RBC Wealth Management, TD Ameritrade, Thomson Reuters, Vanguard and Wells Fargo.

Please stop by FSDA's sponsor table and say hello if you are attending!

For information on the conference, visit https://www.sifma.org/event/private-client-conference/#sponsor

Alex J. Sabo, the immediate past President of the FSDA, FSDA Corporate Member, and a Principal of Bressler, Amery & Ross, P.C., will appear on the radio program, “Dollars and Sense,” beginning at 5 p.m. on Wednesday, March 6, 2019.  “Dollars and Sense” is hosted by Laura Hawley, CEO of Allen and Company of Florida, Inc. and FSDA Corporate Member.

If you are located near Central Florida you can hear the program on AM 1430 and FM 96.7.  If you are not located in Central Florida we will post a link once a recording of the program is posted on the radio station’s website.

Mr. Sabo will discuss topics ranging from what the Federal Trade Commission warns is the latest fraud directed at seniors to the current status of vulnerable adults legislation pending in Florida. He also will provide information for seniors regarding the reporting of abuse, neglect or exploitation through the hotline maintained by the Florida Department of Children and Families Adult Protective Services and how to inquire about issues impacting seniors and their investments through the FINRA Securities Helpline for Seniors. 

https://www.cnbc.com/2019/02/13/older-americans-lose-almost-3-billion-a-year-to-scams.html

On January 25, 2019, over 90 industry professionals visited the Raymond James Financial complex in St. Petersburg, Florida for a SIFMA/FSDA networking breakfast followed by two engaging panel discussions.  The first panel covered current regulatory issues, and was moderated by IRA Hammerman, Executive Vice President & General Counsel of SIFMA.  Mr. Hammerman’s esteemed panel included: Yvette Panetta, Deputy Director at FINRA, Caroline Holmes, Chief of the Bureau of Enforcement, Division of Securities, Florida Office of Financial Regulation and David Birnbaum, Managing Director of Business Development & Strategies for Bates Group LLC.  The regulatory panel covered topics including: current examination priorities and state regulatory initiatives.

The second panel was moderated by Steven Greenbaum, Vice President and General Counsel of TradeStation Securities, Inc. and included: Roseann Chavanne, Co-CCO of Janney Montgomery Scott LLC, Olga Greenberg, a partner with Eversheds Sutherland (US) LLP, and Christopher Majeski, Senior VP and Head of Private Client Group Supervision for Raymond James Financial, Inc.  The supervision panel covered some important topics including: the use of big data, complex products, senior investor and vulnerable adult protection, business continuity plans, cybersecurity, and anti-money laundering.

Attendees qualified for continuing education credits, and are able to share the valuable insights gleaned from the discussion with their respective firms.  The FSDA looks forward to continuing to work with the SIFMA C&L Society to help educate the securities industry on important regulatory developments and best practices.

COMMISSIONER, OFFICE OF FINANCIAL REGULATION

State of Florida position number 43004009

The State of Florida is seeking to fill the position of the Commissioner of Financial Regulation.

The Office of Financial Regulation is responsible for all activities of the Financial Services Commission relating to the regulation of banks, credit unions, other financial institutions, financial companies, and the securities industry. The Commissioner of Financial Regulation, appointed by the Financial Services Commission, serves as the head of the Office of Financial Regulation.

In accordance with Florida Statute, the Commissioner must have had, within the previous 10 years, at least 5 years of responsible private sector experience working full time in areas within the subject matter jurisdiction of the Office of Financial Regulation or at least 5 years of experience as a senior examiner or other senior employee of a state or federal agency having regulatory responsibility over financial institutions, finance companies, or securities companies.

The Commissioner will report to the Financial Services Commission, which is comprised of the Governor, Chief Financial Officer, Attorney General, and Commissioner of Agriculture. The Office of Financial Regulation is authorized to have 354 employees and has an annual budget of approximately $41 million.

Salary Range:  Minimum $120,000; salary level will be determined commensurate with overall qualifications of the selected applicant.

Benefits:  This is a Senior Management Service position and, as such, the State of Florida benefit program provides premium contributions for individual or family health insurance, life insurance and disability insurance.  Other benefits include a comprehensive retirement program, paid holidays, vacation and sick leave.

Apply for this position online via the State of Florida Employment Site’s link by February 14, 2019.

https://jobs.myflorida.com/job/ALACHUA-COMMISSIONER-OF-FINANCIAL-REGULATION-43004009-FL-32399/530848200/

The State of Florida is an Equal Opportunity Employer/Affirmative Action Employer.