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News & Webpages
News - June 05 2019
SEC Adopts Regulation Best Interest
By a 3-to-1 margin, the SEC voted to approve its long-debated Regulation Best Interest at an open meeting today. Also approved was…
News - May 30 2019
NASAA Members Adopt Investment Adviser Information Security Model Rule Package
As Bates reported last October, the North American Securities Administrators Association (NASAA) proposed a new model rule for consideration by state regulators…
News - May 23 2019
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.…
News - May 16 2019
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…
News - May 13 2019
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…
News - May 09 2019
Safeguarding Client Information: OCIE Wants Firms to Increase Efforts
Continuing in its efforts to prioritize the protection of retail investors, the SEC’s Office of Compliance Inspections and Examination (OCIE) has issued…
News - May 02 2019
SEC Enforcement Investigating Firms That Did Not Self-Report
The SEC's Enforcement Division has now initiated investigations against firms that did not self-report by the deadline of the SEC’s Share Class…
News - May 02 2019
New Jersey Makes Its Move, Proposes Financial Services Fiduciary Standard
On April 15th, the New Jersey State Bureau of Securities proposed applying uniform fiduciary standards to broker-dealers and investment advisers. Promoted by…
News - April 25 2019
Federal Legislators Target Mandatory Arbitration
Longstanding opposition to mandatory arbitration is finding renewed momentum as federal legislators introduce bills to limit or even eliminate the binding provisions…
News - April 17 2019
Bates Welcomes Our Newest Experts and Consultants
Bates is proud to introduce four new experts and consultants: Jennifer Bergenfeld, Pamela O’Neill, Matthew Sekerke and Phil Swatzell.
News - April 17 2019
Bates Group President Ben Pappas Honored as a 2019 “Forty Under 40” by Portland Business Journal
Bates Group congratulates President Benjamin Pappas on his recognition as a 2019 "Forty Under 40" business leader by the Portland Business Journal.
News - April 11 2019
FINRA Is Scrutinizing UTMA/UGMA Accounts
In June 2018, Bates Group published an article reporting on deficiencies identified by FINRA in its exam findings which may trigger further…
News - April 05 2019
Spotlight: Q&A with R. Gerald (“Jerry”) Baker, Bates Group Senior Compliance Consultant
Bates Research interviews our most senior experts to get their perspective on the latest regulatory and compliance concerns affecting clients today. We…
News - April 04 2019
U.S. House Moves to Address AML/BSA Framework
On March 13, 2019, the U.S. House of Representatives adopted a resolution, sponsored by House Financial Services Committee (HSFC) Chair Maxine Waters,…
News - April 02 2019
Bates Director Joe Thomas to Speak at SIFMA’s Senior Investor Protection Regional Workshop
Bates Group Director Joseph “Joe” Thomas, Senior Investor Expert, will be speaking at the SIFMA Senior Investor Protection Workshop, April 3rd at…
News - March 28 2019
NASAA Update: Legislative Agenda, President Provides Testimony on Regulation Best Interest
The North American Securities Administrators Association (NASAA) has been in the public eye this month as state regulators (i) issued a set…
Webpage
News - March 14 2019
Justice Department Coordinates Largest Ever Elder Fraud Sweep:
260 Global Defendants said to have Targeted 2 Million Americans, Mostly Elder
On March 7th, federal and state enforcement agencies announced they…
Webpage
News - March 12 2019
Bates News and Events This Week
This week at Bates Group: CEO Jennifer Stout is recognized by the Florida Securities Dealers Association in their March Member Spotlight, Managing…
News - March 08 2019
Alert: FINRA Releases FAQs with Important Information About Its 529 Plan Share Class Initiative
FINRA’s 529 Share Class Initiative self-reporting deadlines have been pushed back one month to allow firms additional time to review their supervisory…
News - March 07 2019
New CFPB Report finds SARS Filings on Elder Financial Exploitation Quadrupled from 2013 to 2017
A recent analysis by the Consumer Financial Protection Bureau (CFPB) of Suspicious Activity Reports (SARs) related to elder financial exploitation provides the…
News - February 27 2019
Four Challenges Facing Firms Ahead of FINRA’s 529 Share Class Initiative April 1st Deadline
Firms participating in FINRA’s 529 Plan Share Class Initiative should act now to meet the regulator’s approaching April 1st deadline to self-report…
News - February 25 2019
Planning Your Response to FINRA’s 529 Initiative — Q&A with Bates Managing Director Alex Russell
Bates Research recently conducted a Q & A session with Alex Russell, Managing Director of Securities Litigation & Regulatory Enforcement at Bates,…
News - February 21 2019
Latest Developments in Variable Annuities and Life Insurance
In our last review of developments concerning variable annuities and life insurance, Bates discussed the SEC’s issuance of a comprehensive new rule proposal intended to create…
News - February 15 2019
Bates Group’s FINRA 529 Share Class Initiative Support for Firms
Last week, Bates sent a time-sensitive Alert concerning FINRA’s new Share Class Initiative -- similar to the SEC’s Share Class Initiative, except…
News - February 13 2019
The State of Play on Cryptocurrency Regulation
For legislators and regulators, writing rules for crypto-related assets requires balancing the tension between innovation and entrepreneurship, and between sound markets and…
News - February 11 2019
Bates Group Welcomes New Managing Director Hank Sanchez
Bates is proud to welcome Hank Sanchez, Esq. as a Managing Director. Hank is a seasoned compliance and legal professional as well…
News - February 07 2019
New Congress, New Priorities for Financial Services in 2019
The priorities of the congressional committees that oversee financial services are changing. The contours of that change are beginning to take shape…
News - February 01 2019
FINRA Rolls Out Its 529 Plan Share Class Initiative - Is Your Firm Ready to Address It?
On the heels of the SEC’s 12b-1 Share Class Initiative, FINRA just announced its own Share Class Initiative. FINRA’s Share Class Initiative…
News - January 24 2019
FINRA Highlights Online Platforms, Mark-Up Disclosure & Compliance, RegTech in 2019 Exam Priorities
In his latest annual priorities letter to members, FINRA Chief Executive Officer Robert Cook emphasized that FINRA will be monitoring firm developments…