Recent News
SEC Office of the Investor Advocate Releases New Report on Efforts to Protect Seniors
The SEC Office of Investor Advocate (OIA) has prepared a valuable overview report on the SEC’s efforts to protect seniors from financial exploitation. The 25-page paper highlights the agency’s examination, enforcement and regulatory policy, in addition to its education and outreach activities. Bates follows regulatory and enforcement developments on senior financial exploitation issues closely. In this article, we review key observations from this latest OIA report which hones in, specifically, on the SEC’s approach to combating senior financial fraud.
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FINRA on AML, Departing Registered Representatives, New Proposed Rules for Firm Misconduct
Over the last month, FINRA issued guidance on anti-money laundering compliance and customer communications concerning departing registered representatives. FINRA also proposed a rule adding obligations to firms with a significant history of misconduct. In this article we take a closer look at these moves and the stepped-up expectations that flow from them.
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FINRA Issues Guidance on Anti-Money Laundering Compliance Obligations
In a new Regulatory Notice, FINRA provided guidance on reporting and monitoring suspicious activities under a member firm’s anti-money laundering (“AML”) compliance program.
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