News - Compliance and Regulatory Alerts

Reg BI & Form CRS Countdown: One Month to Go - Exams to Start July 1, 2020

Compliance and Regulatory Alerts  |  05-28-20

Reg BI & Form CRS Countdown: One Month to Go - Exams to Start July 1, 2020

The June 30th, 2020 implementation date for SEC Regulation Best Interest and the corresponding Customer Relationship Summary (Form CRS) is only one month away. At a recent SIFMA panel discussion covering a host of priorities amid COVID-19, FINRA legal, risk and supervision executives focused on some of the immediate concerns regarding Reg BI and Form CRS, including their examination focus and the suitability rule. Bates Compliance has the details.

Detail
Bates Practice Insights: What Compliance Officers are Thinking About Now

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

Bates Practice Insights: What Compliance Officers are Thinking About Now

In this first of a series of conversations with Bates Group practice leaders, we caught up with Robert Lavigne, Managing Director and Bates Compliance Practice Leader, and Hank Sanchez, Esq., Bates Compliance Managing Director and former SEC and FINRA regulator, to get an understanding of what they are hearing from compliance officers right now, as well as advice for compliance teams in the "new normal."

Detail
This Week at Bates: Countdown to Form CRS for IAs Webinar

Events, Compliance and Regulatory Alerts  |  04-28-20

This Week at Bates: Countdown to Form CRS for IAs Webinar

The countdown is on! Join our complimentary Form CRS for IAs webinar Thursday, April 30, 2020. Specifically designed for SEC-registered IAs, this webinar will help you tackle Form CRS with confidence. Presented by Bates Compliance.

Detail
SEC Adopts Final Rule on Variable Contract Disclosure, Effective July 1, 2020

Compliance and Regulatory Alerts  |  04-15-20

SEC Adopts Final Rule on Variable Contract Disclosure, Effective July 1, 2020

The SEC recently adopted new Rule 498A under the Securities Act, including various supporting amendments, to “simplify and streamline” the disclosure framework for variable annuities and variable life insurance contracts. As Bates described when the rule was first proposed, the new rule allows for a plain-English, easy to read, concise “summary prospectus” to satisfy obligations under the securities laws concerning variable product prospectus delivery. Read more to prepare for the July 1, 2020 effective date.

Detail
SEC Issues Risk Alerts on Compliance with Reg BI and Form CRS

Compliance and Regulatory Alerts  |  04-09-20

SEC Issues Risk Alerts on Compliance with Reg BI and Form CRS

On April 7, 2020, the SEC Office of Compliance Inspections and Examinations issued two new alerts to broker-dealers and investment advisers about the “expected scope and content” of its compliance examinations for Reg BI and the Client Relationship Summary (“Form CRS”). Previously, SEC Chair Jay Clayton announced that the June 30, 2020 compliance deadline for Reg BI will not be delayed due to the impact of COVID-19. These alerts, therefore, underscore the need for firms to be prepared and compliant by the deadline. Here, we detail what the SEC is expecting from you and firms.

Detail
Five Supervision, Control and Compliance Items You Should be Considering Now

Compliance and Regulatory Alerts  |  04-01-20

Five Supervision, Control and Compliance Items You Should be Considering Now

Compliance is challenging to begin with, but in this new landscape, it is an even greater stretch for compliance teams to manage company-wide systems while working remotely. Here are five items you should be thinking about when addressing supervision and control functions.

Detail
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.

Detail
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.

Detail
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. “

Detail
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

Detail

Page 1 of 6 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