Recent News
Bates Compliance’s Reg BI Countdown Kick-Off Begins!
To support your Reg BI implementation efforts, Bates Compliance is rolling our Reg BI Countdown with action items to keep your compliance team on track as the June 30, 2020 implementation deadline approaches.
Full Article
FinCEN Leaders Highlight Innovation, Identity Information and “Culture” as Keys to AML Approach
In two speeches delivered in September 2019, leaders of the Financial Crimes Enforcement Network (FinCEN) laid out their thinking behind the agency’s current regulatory approach to combatting money laundering and terrorist financing. FinCEN Deputy Director Jamal El-Hindi focused on the future of the BSA and emphasized compliance for NBFIs, while FinCEN Director Kenneth Blanco described the use of financial data to fight money laundering and the abuse of personally identifiable information by bad actors. In this article, Bates Research takes a closer look at FinCEN’s message.
Full Article
SEC Turns Up Heat on Share Class Selection Disclosure, Now Focusing on Other Forms of Compensation
The SEC Enforcement Division is continuing to concentrate on firms that did not self-report by the deadline of the SEC’s Share Class Selection Disclosure Initiative, and is now focusing on revenue-sharing payments and other forms of representative compensation or cost offsets. Bates takes a look at recent SEC actions and settlements with comments and recommendations by Securities Litigation and Regulatory Enforcement Managing Director Alex Russell.
Full Article