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Category Archives: law

7 Subtle Mistakes that Cripple Family Office Management

  by David Drake   Family office management can be both rewarding and challenging at the same time. For beginners, families can be overwhelmed by the sense of liability and complexity that is associated with wealth management especially when it has to extend across generations. Whether these offices are self-managed or coordinated by outsourced managers, there is always an astonishing […]

Will New Guidelines Bolster Family Offices? Or Become Their Kryptonite?

By David Drake In the past few years, several changes have been made in the family office regulatory environment. Family offices that were not registered with the US Securities and Exchange Commission (SEC) in 2011 had to reassess their acquiescence with the latter’s regulations, which restricted family offices qualifying for exemption of the Registered Investment Advisors. The Final Rule 275.202 […]

DITMo: Minimum Wage WARNING to States

Subsistence, livable wage and minimum wage as monetary terms differ. A person working forty hours weekly supporting an average household should set the minimum bar in the free market for wages enough to provide for that household. This is a livable wage. It seems that a free market natural minimum guideline for a forty hour worker would approximate a basic […]

How to Buy Yourself a Citizenship: 3 Leading Country Programs of the USA, Dominica & St Kitts-Nevis

  by David Drake Countries either create or adopt investment programs  to boost their economic development. The Citizenship by Investment Program and the Immigrant Investor Program are  two programs toward this end. These programs grant residency and citizen rights to individuals that invest in a country of their choice. I have researched this as a Special Advisor to Ambassador Paolo […]

Who Dares to be the next Ben and Jerry’s or Fundrise to Raise up to $50 Million through Regulation A+?

By David Drake   All startups need capital to innovate, launch, scale and grow. For companies seeking additional financing for their working capital or to expand its operations but do not yet want to risk an IPO, using the newly approved Regulation A+ is a possible alternative.   Ben & Jerry’s Homemade Inc. (BJICA) is one firm that was able […]

Why the New Regulation A+ Rules Will Rock the Crowdfunding World

By David Drake The US crowdfunding industry hit a major milestone on March 25 this year as the SEC passed into law Reg A+ under Title IV of the JOBS Act after years of prolonged deliberation and advocating by stakeholders.   Industry experts, entrepreneurs and investors have eagerly anticipated for the passing into law of this regulation to facilitate the […]

Money Laundering Proof Your Company: AML Check

“The World Bank and the International Monetary Fund (IMF) estimate that global money laundering constitutes about to 3 to 5 percent of the world’s gross domestic product. In nominal terms that’s a staggering $2.17 and $3.61 trillion dollars in a year.” By David Drake Money laundering is the act of attempting to conceal proceeds from illegal activity thereby making them […]

SEC Announces Enforcement Action Against Compliance Officer

Dear Friends, Yesterday, the SEC announced an enforcement action against a compliance officer for allegedly altering a trading review document.   In 2010, the SEC charged an employee with insider trading. According to the SEC, after the employee was charged with insider trading, the compliance officer altered the document to make it appear that she performed a more thorough review […]

On The Rise: The Next Moguls like Donald Trump will come from the Crowd – but they will not be Crowdfunding

By David Drake   Direct Public Offering, also known as Regulation A+, is poised to significantly bring down the cost of raising capital for businesses in the US when it becomes legal. And when it does, it could overshadow even its more popular regulatory sibling under the JOBS Act – Crowdfunding.   Such incidences like paying up to $250,000 in […]

The Path to Success for Lawyers on Wall Street

When people think of jobs on Wall Street, they often imagine a bunch of accountants, analysts, stockbrokers, mathematicians and other brainy types. But not everyone in the financial sector follows the same path. There is more than enough room for people with other backgrounds — particularly lawyers. “If people want to go into this industry, there are a lot of […]