News - Compliance and Regulatory Alerts

Update: SEC Amends ADV Filing and Delivery Deadline Extensions due to COVID-19

Compliance and Regulatory Alerts  |  03-26-20

Update: SEC Amends ADV Filing and Delivery Deadline Extensions due to COVID-19

The SEC’s IAA Release No. 5469 on Wednesday, March 25, 2020 amends its IAA Release No. 5463 and now allows for extending the filing and delivery deadline dates of the Form ADV amendment to June 30, 2020 due to COVID-19 and its consequences. The SEC has also amended the notice requirements—find out what you MUST do if you cannot meet the filing deadlines.

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FINRA Warns Firms on UTMA/UGMA Account Supervision

Compliance and Regulatory Alerts  |  03-25-20

FINRA Warns Firms on UTMA/UGMA Account Supervision

In a Notice issued on February 27, FINRA advised firms of their responsibilities over custodial accounts under the Uniform Transfers to Minors Act and Uniform Gifts to Minors Act (“UTMA/UGMA”) and warned members that adequate compliance requires firms to take into account termination of custodianship and changes of authority. Bates can help your firm respond to UTMA/UGMA account inquiries.

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FINRA Postponement of In-Person Arbitration & Mediation Hearings

Bates News, Compliance and Regulatory Alerts  |  03-17-20

FINRA Postponement of In-Person Arbitration & Mediation Hearings

FINRA has announced that, in response to the evolving coronavirus disease 2019 (COVID-19), it “has decided to administratively postpone all in-person arbitration and mediation proceedings scheduled through May 1, 2020. “

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SEC Extends Form ADV Filing and Delivery Deadlines due to COVID-19

Compliance and Regulatory Alerts  |  03-16-20

SEC Extends Form ADV Filing and Delivery Deadlines due to COVID-19

The SEC’s IAA Release No. 5463 on Friday, March 13 allows for extending the filing (March 30) and delivery (April 30) deadline dates of the Form ADV amendment by 45 days due to COVID-19 and its consequences However, this is not an automatic extension—find out what you MUST do if you cannot meet the filing deadlines

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Bates Compliance Practice Leader Robert Lavigne Discusses Reg BI in ThinkAdvisor Article

Bates News, Compliance and Regulatory Alerts  |  03-09-20

Bates Compliance Practice Leader Robert Lavigne Discusses Reg BI in ThinkAdvisor Article

Bates Compliance Practice Leader Robert “Bob” Lavigne is quoted in a new article entitled “Reg BI Compliance Race is On,” published by ThinkAdvisor.

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Facing the Coronavirus: Financial Industry Preparations, Reassurances and Contingencies

Bates News, Bates Research, Compliance and Regulatory Alerts  |  03-05-20

Facing the Coronavirus: Financial Industry Preparations, Reassurances and Contingencies

If you’ve been in meetings about investor communications, business travel, or other contingency planning over the past few days and weeks, you are not alone. Since the outbreak of the coronavirus (also referred to as COVID-19) and more recently, the precipitous volatility of the financial markets, financial firms have been deluged with questions from just about every stakeholder group about how to respond. Regulators are weighing in as well. Bates looks at some of the efforts to prepare and reassure everyone out there.

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FINRA Reorganizes for More Coordinated Exams, Highlights Priorities for 2020

Bates Research, Compliance and Regulatory Alerts  |  01-23-20

FINRA Reorganizes for More Coordinated Exams, Highlights Priorities for 2020

In his cover note accompanying FINRA’s annual Risk Monitoring and Examination Priorities letter, FINRA President and CEO Robert Cook reminded members of significant enhancements to the examination program going forward. Bates Research has analysis, commentary and highlights of FINRA’s continuing and emerging concerns, along with our 2020 FINRA chart, which keeps track of articulated priorities from year to year.

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Download The New Reg BI White Paper from Bates Research and Bates Compliance

Bates Research, Compliance and Regulatory Alerts  |  01-22-20

Download The New Reg BI White Paper from Bates Research and Bates Compliance

Understand what Reg BI requires now — and what more you must implement before the final deadline. Download our new white paper: "SEC’s Regulation Best Interest Perspectives on Firm Compliance."

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OCIE to Prioritize Reg BI Compliance in 2020 Examinations

Bates Research, Compliance and Regulatory Alerts  |  01-16-20

OCIE to Prioritize Reg BI Compliance in 2020 Examinations

The SEC Office of Compliance Inspections and Examinations ("OCIE") set out their 2020 examinations priorities in an annual report issued last week. The report reminds registered entities that all its priorities are within the SEC’s mandate to protect investors, facilitate capital formation, and maintain fair, orderly and efficient markets. The report is, in effect, a notice to the industry and chief compliance officers to address potential vulnerabilities in compliance programs and practices in order to minimize retail investor and market risks. Bates Research takes a closer look.

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FINRA Releases 2020 Risk Monitoring and Examination Priorities Letter

Bates Research, Compliance and Regulatory Alerts  |  01-10-20

FINRA Releases 2020 Risk Monitoring and Examination Priorities Letter

FINRA has announced their regulatory and examination priorities for the upcoming year. New for this year is a focus on Regulation Best Interest (Reg BI) and Form CRS (Client Relationship Summary).

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