News - Bates News

Bates Compliance’s Reg BI Countdown Kick-Off Begins!

Bates News, Industry News  |  10-18-19

Bates Compliance’s Reg BI Countdown Kick-Off Begins!

To support your Reg BI implementation efforts, Bates Compliance is rolling our Reg BI Countdown with action items to keep your compliance team on track as the June 30, 2020 implementation deadline approaches.

Detail
FinCEN Leaders Highlight Innovation, Identity Information and “Culture” as Keys to AML Approach

Bates News, Bates Research  |  10-10-19

FinCEN Leaders Highlight Innovation, Identity Information and “Culture” as Keys to AML Approach

In two speeches delivered in September 2019, leaders of the Financial Crimes Enforcement Network (FinCEN) laid out their thinking behind the agency’s current regulatory approach to combatting money laundering and terrorist financing. FinCEN Deputy Director Jamal El-Hindi focused on the future of the BSA and emphasized compliance for NBFIs, while FinCEN Director Kenneth Blanco described the use of financial data to fight money laundering and the abuse of personally identifiable information by bad actors. In this article, Bates Research takes a closer look at FinCEN’s message.

Detail
SEC Turns Up Heat on Share Class Selection Disclosure, Now Focusing on Other Forms of Compensation

Bates News, Compliance and Regulatory Alerts, Industry News  |  10-03-19

SEC Turns Up Heat on Share Class Selection Disclosure, Now Focusing on Other Forms of Compensation

The SEC Enforcement Division is continuing to concentrate on firms that did not self-report by the deadline of the SEC’s Share Class Selection Disclosure Initiative, and is now focusing on revenue-sharing payments and other forms of representative compensation or cost offsets. Bates takes a look at recent SEC actions and settlements with comments and recommendations by Securities Litigation and Regulatory Enforcement Managing Director Alex Russell.

Detail
Hank Sanchez Speaking at SIFMA C&L New York Regional and 2019 NSCP National Conference

Bates News, Events, Industry News  |  10-01-19

Hank Sanchez Speaking at SIFMA C&L New York Regional and 2019 NSCP National Conference

Bates Managing Director and Expert Consultant Hank Sanchez will be speaking at the SIFMA C&L New York Regional Seminar October 22nd and at the 2019 NSCP National Conference October 23rd.

Detail
Bates Managing Director Robert Lavigne Quoted in Investment News Article

Bates News, Industry News  |  09-27-19

Bates Managing Director Robert Lavigne Quoted in Investment News Article

Bates Compliance Managing Director Robert Lavigne is quoted in a new article from Investment News.

Detail
NASAA Enforcement Report Shows Increased Investment Adviser Actions, Focus on Crypto, Senior Fraud

Bates News, Bates Research  |  09-26-19

NASAA Enforcement Report Shows Increased Investment Adviser Actions, Focus on Crypto, Senior Fraud

In its 2019 annual enforcement report, the North American Securities Administrators Association ("NASAA") highlighted statistics from its 2018 state enforcement activities. The data show that the state securities regulators secured more than $1 billion in restitution and fines as well as significant criminal penalties. The report also notes that state regulators nearly doubled enforcement actions against investment adviser firms. Here, Bates Research takes a closer look.

Detail
Bates Welcomes Our Newest Experts and Consultants

Bates News, Industry News  |  09-23-19

Bates Welcomes Our Newest Experts and Consultants

Bates is proud to introduce our newest experts and consultants: Donna Bartlett, Frank Giorgio, Richard Rogoff and William Webb.

Detail
OCIE Issues Risk Alert on Principal Trading and Cross Transaction Compliance Obligations

Bates News, Compliance and Regulatory Alerts  |  09-23-19

OCIE Issues Risk Alert on Principal Trading and Cross Transaction Compliance Obligations

The SEC Office of Compliance, Inspections and Examinations (OCIE) issued a Risk Alert to remind investment advisers of their compliance obligations for principal trading and agency cross transactions involving clients. Specifically, OCIE alerted investment advisers of their responsibility to comply with disclosure and consent requirements under the Investment Advisers Act and that, except for specific circumstances related to cross trades, the rules require compliance on a “transaction-by-transaction basis – blanket disclosure and consent are not permitted.”

Detail

Bates News, Bates Research  |  09-19-19

FINRA Requests Feedback on Senior Financial Protection Rules

In a new Regulatory Notice, FINRA is asking its members a series of questions about the utility of rules and processes to curb financial exploitation of senior investors. According to FINRA, the rules under review provide a way for member firms to deal with situations where there is “a reasonable basis to believe that financial exploitation has occurred, is occurring, has been attempted or will be attempted.”

Bates Research closely follows regulatory and enforcement developments on senior financial fraud. In this article, we recap those rules and consider the questions posed by FINRA in its latest Notice.

Detail
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.

Detail

Page 1 of 16 pages.

Alert

Get Bates Group News and Alerts in your Inbox

Sign Up Now

Contact Bates Group

Bates Group is with you every step of the way. Contact us today for more information on how our End-to-End Solutions can help your firm.

Contact Bates Group
Automat:ee