Recent News
2018 SEC Exam Priorities and Pronouncements: Compliance Insights for Success Webinar
Join Robert Lavigne, Managing Director, Bates Compliance Solutions as he walks us through a 20-minute webinar focusing on the 2018 SEC-OCIE Exam Priorities and what compliance professionals should be focusing on now.
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Regulators Offer More Guidance as AML Rules Near Effective Date
Away from the headlines, federal and state regulators continue to prepare financial institutions for their new anti-money laundering compliance obligations. In the past few weeks, the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) and FINRA provided additional guidance to covered institutions on how to comply with rules that are set to go into effect next month. In New York, the certification provisions of the Department of Financial Services (“NYDFS”) BSA/AML rules went into effect. Bates research has the highlights.
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Alert Update: SEC Mutual Fund Share Class Disclosures
The SEC Division of Enforcement announced a "Share Class Selection Disclosure Initiative" intended to protect and reimburse investors from an adviser’s conflict of interest. The SEC initiative offers an incentive to advisers and associated entities to self-report conflicts of interest that are in violation of Investment Advisers Act (12b-1) fiduciary duties regarding fees collected on mutual fund share classes, when lower-cost share classes of the same fund were available. The deadline to conduct this analysis, address these issues, and self-report is Tuesday, June 12th – only seven weeks away.
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