News & Events –

In a press release touting twelve additional enforcement actions against firms for failing to provide complete information on, file, or deliver Form CRS to retail investors, the SEC announced settlements against six investment advisers and six broker-dealers. That message underscores the agency’s intention to hold firms accountable for making these disclosures. Read our Alert for details on the SEC's findings, the settlements, and what they could mean for your firm and clients.

On January 1, 2021, the Anti-Money Laundering Act ("AMLA") became law. The far-reaching legislation expanded the Bank Secrecy Act regulatory framework by, among other things, establishing a beneficial non-public ownership database and reporting requirements under AMLA’s Corporate Transparency Act; promoting technology and other innovation to support enforcement, particularly concerning SARs; expanding enforcement authority over art, antiquities and real estate; and increasing penalties for AML violations. The story of FinCEN’s regulatory efforts since the passage of AMLA is the story of the agency working to effectuate those mandates. In this post, Bates looks at where we are in that story with the following regulatory developments.

Issued on February 9th, 2022, the FINRA 2022 Exam and Risk Monitoring Report highlights several new areas of FINRA focus that back up the regulator's current theme of protection of retail investors, including, for example, first-time attention to FINRA rules on trusted contacts, funding portals and crowdfunding offerings. Bates reviews those new topics and the selected highlights as we adapt our own annual summary Chart to better reflect the changing FINRA approach.

Bates Group welcomes new testifying and consulting experts

Jack McGuire, Esther Cho and Greg Kyle reunite for a new CLE Webinar to provide a capital markets update and discuss related litigation, regulatory and enforcement areas to keep an eye on in 2022. Bates Group Managing Director Alex Russell will be joining the panel to discuss Regulatory issues and updates. Thursday, February 17th from 1:00 - 2:00 p.m. ET.

FINRA has announced the publication of the 2022 Report on FINRA's Examination and Risk Monitoring Program. Stay tuned for our annual commentary, coming soon, on FINRA’s 2022 objectives and how they may impact your legal, regulatory and compliance matters.

In 2021, the market for cryptocurrencies nearly tripled to more than $2 trillion. Recent movement toward some framework over cryptocurrency seeks to balance supporting innovation while reducing risk, but the speed and size of the complex and evolving market is creating urgency. It is now clear that all the players across the executive and legislative landscape are engaged. Here’s a brief update on the latest developments.

Jack McGuire, Esther Cho and Greg Kyle reunite for a new CLE Webinar to provide a capital markets update and discuss related litigation, regulatory and enforcement areas to keep an eye on in 2022.

Bates proudly celebrates Black History Month this February. Connect with us on social media as we examine the rich legacy of Black Americans in the fields of Finance, Banking, and Investing.

Bates Group is proud to welcome Rob Ayers as a Business Development and Consulting Expert with our Money Services Business, Fintech and Cryptocurrency practice, supporting client engagement and new business outreach.

In a SIFMA “One-on-One” virtual event sponsored by Bates Group, FINRA CEO Robert Cook sat down with SIFMA President Ken Bentson to discuss FINRA priorities for 2022. The conversation offered a first glimpse at the issues to be covered in the self-regulatory organization’s Annual Exam and Risk Monitoring Report, due out in the next few weeks.

Bates is proud to participate in the 2022 New York State Bar Association Annual Meeting and its marquee event, the Presidential Summit, on Thursday, January 20, 2022. Led by NYSBA President T. Andrew Brown, the Summit will focus on two of the leading social justice and civil rights matters of the day: a reevaluation of the #MeToo Movement, and the intersection of transgender rights and sports. Bates Group Managing Director Susan Harper will moderate the #MeToo panel, and NY State Attorney General Letitia James will deliver the keynote address.

Join The SIFMA Compliance & Legal Society for a one-on-one conversation between FINRA president and CEO Robert Cook and SIFMA president and CEO Kenneth E. Bentsen, Jr. Bates Group is proud to sponsor this virtual event on January 19, 2022. 

Bates Group is a proud Bronze sponsor of the New York State Bar Association Women In Law Section (WILS) 18th Annual Edith I. Spivack Symposium – "Women Leaders: Driving Change by Opening Doors and Raising Our Voices" – and the Kay Crawford Murray Memorial Award program honoring an outstanding attorney who recognizes the value of diversity and mentoring in the legal profession. This two-day virtual event will be held during the 2022 NYSBA Annual Meeting on January 18 and 25, 2022. Registration is now open.

The cryptocurrency legal and compliance landscape is constantly changing, and there’s more scrutiny than ever before on the industry. Please join leading experts from Bates Group and McDermott Will & Emery for a discussion on the current virtual currency environment and what you need to know for your business as we kick off 2022.

Just before Christmas, the SEC issued new guidance on compliance with the broker-dealer/investment adviser-mandated Client Relationship Summary Form (“Form CRS”). The release provides significant detail on disclosure topics as well as the content, format and posting requirements for the Form. In this article, we review the latest highlighted concerns and key takeaways.