News

States Sue SEC in Latest Challenge to Reg BI

Bates News, Bates Research  |  09-12-19

States Sue SEC in Latest Challenge to Reg BI

The SEC’s adoption of the Regulation Best Interest (“Reg BI”) package in June was a defining moment in the long-running debate over the standard of care for broker-dealers and investment advisers. It triggered compliance schedules and required registered broker-dealers and advisory firms to develop internal policies and procedures in order to satisfy the new standards. The passage of Reg BI, however, did not quell the ongoing controversies over the appropriateness and adequacy of standards and investor protections. This week, Reg BI suffered another state challenge, this time in the form of a lawsuit filed against the SEC by seven State Attorneys General. Bates Research takes a closer look.

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Bates Managing Director Hank Sanchez Publishes New Reg BI Article in NSCP Currents

Bates News, Industry News  |  09-05-19

Bates Managing Director Hank Sanchez Publishes New Reg BI Article in NSCP Currents

Bates is proud to share the publication of “With Regulation BI, Are FINRA Rules 2010 and 2111 Dead?” by Managing Director and Expert Consultant Hank Sanchez, Esq. Look for Hank at the 2019 NSCP National Conference, October 21-23 at the Hilton Baltimore. 

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Bates Expands Financial Crimes Roster with Managing Director Dennis Greenberg

Bates News  |  09-04-19

Bates Expands Financial Crimes Roster with Managing Director Dennis Greenberg

Bates Group welcomes Dennis Greenberg as the new Managing Director of Business Development for Bates AML and Financial Crimes.

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Expert Spotlight: Greg Kyle Quoted by CBS News

Bates News, Industry News  |  08-16-19

Expert Spotlight: Greg Kyle Quoted by CBS News

Bates Group director and expert Greg Kyle was recently interviewed by CBS News for their MoneyWatch feature.

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NASAA Roundup: Crypto Crackdown, Reg BI, New Warnings on Complex Products

Bates News, Bates Research  |  08-15-19

NASAA Roundup: Crypto Crackdown, Reg BI, New Warnings on Complex Products

The past few months have been a particularly busy time for state financial regulators and enforcement officials. At almost every turn, the complicated and overlapping relationship between federal and state officials is being tested. A review of recent activities by the North American Securities Administrators Association (NASAA) provides several examples. In this article, Bates recaps recent NASAA developments on cryptocurrency, fraud enforcement, Regulation Best Interest (Reg BI), and supervision of complex financial products (i.e. non-traditional Exchange Traded Funds).

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Jill Ehret to Speak on Reg BI Panel August 14, 2019 in Los Angeles

Bates News, Industry News  |  08-14-19

Jill Ehret to Speak on Reg BI Panel August 14, 2019 in Los Angeles

Bates Group’s Compliance Director Jill Ehret will be speaking at the 2nd Annual FI Summit on Wednesday, August 14th at the LA Galaxy Stadium. Bates is a proud co-sponsor of this year's event.

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Introducing Bates Group’s Managed Document Review Services

Bates News, Industry News  |  08-09-19

Introducing Bates Group’s Managed Document Review Services

Bates Group’s new Managed Document Review services enable organizations to leverage the advantages of highly experienced review specialists and technology-enabled e-discovery review solutions allowing you to focus your time and effort on the high-value tasks your legal team was hired to perform.

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Variable Annuities Regulatory Update: Will NY’s Reg. 187 Victory Impact SEC, NAIC Proposals?

Bates News, Bates Research  |  08-08-19

Variable Annuities Regulatory Update: Will NY’s Reg. 187 Victory Impact SEC, NAIC Proposals?

Last week, the New York Supreme Court upheld the “Suitability and Best Interest in Life Insurance and Annuity Transactions” regulation (a/k/a Regulation 187) in the face of legal challenges brought by several associations and insurance agent groups. In this article we take a look at what the decision means, recent developments in both the SEC and NAIC efforts to rewrite standards, and we update you on the latest in the legal battle over commission trails for brokers selling variable annuities.

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Cannabis: Federal and State Efforts Picking up Steam

Bates News, Bates Research  |  08-01-19

Cannabis: Federal and State Efforts Picking up Steam

The growing global cannabis market is estimated to reach $66.3 billion by 2025, up from $13.8 billion in 2018. That kind of growth is spurring congressional and state legislators to seek to normalize the market for marijuana-related businesses and speed up the resolution of federal-state legal conflicts. In this article Bates looks at some of the recent federal legislative and state developments on what appears to be real momentum toward a fully functioning and legitimate market.

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OCIE Examines Investment Adviser Oversight of Supervised Persons with Disciplinary History

Bates News, Compliance and Regulatory Alerts  |  07-29-19

OCIE Examines Investment Adviser Oversight of Supervised Persons with Disciplinary History

The SEC Office of Compliance, Inspections and Examinations (OCIE) issued a Risk Alert to address compliance and disclosure issues raised in examinations covering the oversight practices of SEC-registered investment advisers “that previously employed, or currently employ, any individual with a history of disciplinary events.” OCIE also proposed a number of ways that firms could address the weaknesses in their compliance frameworks related to supervised individuals with a prior history of disciplinary events.

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