Bates News | 06-21-17
Meet Our Banking Experts
Bates Group is proud to announce our Banking Experts and Consultants Jim Embersit, Susan Faulkner, Martin Feuer and Gene Kirby.
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Bates News | 06-21-17
Bates Group is proud to announce our Banking Experts and Consultants Jim Embersit, Susan Faulkner, Martin Feuer and Gene Kirby.
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Bates News | 06-16-17
Bates Group is pleased to announce that Geoff Winkler, CFE, Bates Group’s Director of Fraud and Forensic Investigations, will be speaking this Tuesday on personal liability for compliance professionals at the Association of Certified Fraud Examiners' (ACFE) 28th Annual Global Fraud Conference in Nashville, TN, June 18th-23rd. ACFE’s annual conference is attended by over 3000 professionals across multiple industries. Mr. Winkler will be presenting session 10H on Tuesday afternoon, 3:35 - 4:50 p.m. Please also visit Bates Group in the exhibitor hall at booth #202.
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Bates Research | 06-14-17
For securities regulators and regulated entities, concern over cybersecurity is taking on a new urgency. Hardly a day goes by without a news item highlighting serious allegations of international hacking, fraud, data theft or some form of attempted electronic manipulation. Faced with the fact that governmental institutions, private enterprises and personal assets seem increasingly vulnerable, authorities appear to be ramping up their engagement. Federal and state officials are issuing new rules, authorities are updating guidance and enforcement agencies are organizing for a fight.
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Bates Research | 06-07-17
In one of his first official acts as SEC Chair, Jay Clayton served notice that the SEC will assert itself in the long-standing debate on the duties owed by investment advisors and broker-dealers. In a public statement issued only a few days before the implementation of parts of the Department of Labor (“DOL”) Fiduciary Duty Rule, Mr. Clayton staked out the SEC’s claim to broad jurisdiction over the issue.
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Bates Research | 05-31-17
Only a month ago, Bates reported on House Speaker Paul Ryan’s desire to push for swift legislative action on the Financial CHOICE bill, (now known as H.R.10). It was clear then that the extreme partisanship surrounding House Financial Services Committee Chair Jeb Hensarling’s reform efforts would make passage of comprehensive legislative changes to the Dodd-Frank Act a challenge. The bill itself was reported out of the House Committee on a party-line vote 34-26, with all nineteen amendments proposed by Democrats summarily rejected.
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Bates Research | 05-17-17
On January 4, 2017, FINRA President and CEO Robert Cook issued the organization’s Annual Regulatory and Examinations Priorities Letter which focused on the “blocking and tackling issues of compliance, supervision and risk management.” The letter contained a commitment to “devote particular attention to firms’ hiring and monitoring of high-risk and recidivist brokers, including whether firms establish appropriate supervisory and compliance controls for such persons.” Making good on this commitment, FINRA’s Board of Governors approved a set of proposals.
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Bates Research | 05-10-17
In a series of posts last year, we looked at the growing industry perception that regulators were ramping up their enforcement efforts against chief compliance officers (“CCOs”) for anti-money laundering (“AML”) violations. At the time, several issues were impacting industry perceptions, including a proposed rule change by New York State regulators to hold CCOs personally liable for corporate wrongdoing, an ongoing dialogue within the industry about the market implications of targeted enforcement against CCOs, and the development of company strategies anticipating the necessity of mitigating those consequences.
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Bates Research | 05-03-17
Last week, House Financial Services Committee Chairman Jeb Hensarling unveiled an updated version of the Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act (a/k/a “the Financial CHOICE Act), a bill first introduced in 2016 as HR 5983. The new version of the Act includes a dedicated effort to roll back the purported regulatory overreach of Dodd-Frank combined with an ambitious grab-bag of financial services reforms. If enacted, the reforms would dramatically change the financial services landscape.
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Bates Research | 04-25-17
Last month, President Trump announced his intention to nominate Commodity Futures Trading Commission (“CFTC”) acting head J. Christopher Giancarlo to serve as permanent chairman. Mr. Giancarlo, a Republican and former executive at financial services firm GFI Group Inc., was an Obama-era appointee who joined the Commission in 2014.
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Bates News | 04-19-17
Bates Group is proud to announce our new Experts and Consultants Douglas Woodcock, Mark Gaudian, Peter Bale and Timothy Durno.
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