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Bates Sponsors 4th Annual Raymond James Valor Golf Outing
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11-05-22

Bates Sponsors 4th Annual Raymond James Valor Golf Outing

Bates is proud to be a sponsor of the 4th annual Raymond James Valor golf outing on November 5, 2022. Valor, the Veterans' Inclusion Network at Raymond James, sponsors this annual golf tournament and raffle to benefit local veterans and their families.

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State Securities Regulators Report on 2021 Enforcement Trends:  Digital Assets Investigations, Increase in Promissory Note Enforcement, Concerns About Metaverse Fraud
image: Alabama Securities Commission - Joseph P. Borg, Director

11-01-22

State Securities Regulators Report on 2021 Enforcement Trends:  Digital Assets Investigations, Increase in Promissory Note Enforcement, Concerns About Metaverse Fraud

NASAA, the North American Securities Administrators Association, published their 2022 Enforcement Report detailing data collected from 48 jurisdictions in 2021. This annual publication serves several purposes. Primarily, it is an attempt to aggregate the efforts undertaken by state regulators to protect the public from fraud. As Joseph Borg (NASAA 2021-2022 Enforcement Section Chair, pictured) states in his introduction, the report flags concerns about complex theft and misapplication, real estate and energy scams, cryptocurrency, non-fungible tokens, metaverse schemes, and more. Learn what to expect as state regulators assert their jurisdiction over new products, new markets and new marketplaces. Bates has the highlights.

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Preparing for an Independent Review of a Money Services Business’s (MSB) AML Program

10-21-22

Preparing for an Independent Review of a Money Services Business’s (MSB) AML Program

Independent reviews on AML risk are becoming more important, not only to ensure compliance with current regulation and the documentation of all efforts undertaken, but also to uncover systemic weaknesses and to provide corrective recommendations for management. In this article, Bates offers tips to help MSB firms navigate the process, including key elements of a review, timing, and selecting the right reviewer.

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Visit the Bates Booth at NSCP 2022

10-17-22

Visit the Bates Booth at NSCP 2022

Bates Compliance is a proud exhibitor at this year's NSCP National Conference. Visit Bates leaders at booth #25 - Bates Managing Director Hank Sanchez, Esq. to speak on the Day 3 Disaster Recovery panel.

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FinCEN Publishes Final Beneficial Ownership Rule
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10-07-22

FinCEN Publishes Final Beneficial Ownership Rule

On September 30, 2022, FinCEN published first of three final rules (and related Fact Sheet) on the reporting requirements for beneficial ownership information. It goes into effect on January 1, 2024. Until then, FinCEN will be developing reporting forms and other guidance to help companies with their reporting compliance. We look at the highlights of the new reporting rule and what firms should do to prepare.

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How to Prepare for a Regulatory Examination: Bates’ Guide to Getting Ahead of Regulatory Exams

10-04-22

How to Prepare for a Regulatory Examination: Bates’ Guide to Getting Ahead of Regulatory Exams

Each year, the SEC and FINRA release Exam and Risk Monitoring Reports highlighting continuing and emerging concerns for the year. These agency communications serve as a potential notice of subjects scrutinized for future examinations. In this guide, Bates walks you through the exam process and break down what you need to know, including: anticipation and preparation, first contact, document production, interviews, and findings.

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Seeking to Integrate Reg BI Standards, NASAA Proposes Revisions to REITs and Other Guidelines
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09-19-22

Seeking to Integrate Reg BI Standards, NASAA Proposes Revisions to REITs and Other Guidelines

NASAA is reminding financial professionals that state regulators remain a force to be reckoned with in an increasingly complex financial marketplace. Describing a need to protect elderly investors from unsuitable products, a need to protect average investors from the risks of confusing contract terms and misleading marketing communications, and to address ongoing and persistent complaints of fraud, NASAA proposed revisions to its Guidelines on REITs. Bates looks at the four proposed revisions and what they could mean for your firm and clients.

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Private Funds: New Reporting Proposals from Regulators
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09-09-22

Private Funds: New Reporting Proposals from Regulators

As the size of the private funds market has grown, regulators have been increasingly concerned about the risk posed to investors. The sheer size of the market—and the state of the current disclosure framework covering it—has motivated regulators from both the SEC and CFTC to propose additional rule amendments to increase the regulatory oversight of private fund advisers and the funds they advise. Bates takes a look at key features of the SEC/CFTC proposal.

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Bates Welcomes New Experts and Consultants

09-07-22

Bates Welcomes New Experts and Consultants

Bates Group welcomes our newest consulting and testifying experts (pictured, L-R):

Erin Baskett, CPA, CGMA - Brokerage, Investment Advisory, Cryptocurrency Consulting

Patrick Cox - Fintech and Cybersecurity, Employment Matters, Broker-Dealer Sales Practice

Frederick Egler - Operational Risk Management, Insurance/Reinsurance, Banking

Brian Warshaw - Broker-Dealer Operations, Introducing Firm Operations, Transaction Processing

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2022 Summer Roundup – What You Missed, What Is Happening This Fall

09-02-22

2022 Summer Roundup – What You Missed, What Is Happening This Fall

Summer is coming to a quick close, and we hope you had a chance to get moving and enjoy some fun in the sun!

While you are celebrating the final days of summer, we’ve compiled our annual summer roundup of news that you may have missed, as well as a sneak peek of live and virtual events happening this fall. We’ve even included a bonus track at the end of our list to cap off your summer.

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Bates Welcomes Paul Lambert, Former Bank of America Chicago Market President and Merrill Lynch Midwest Division Executive, as a Strategic Advisor and Consulting Expert

08-31-22

Bates Welcomes Paul Lambert, Former Bank of America Chicago Market President and Merrill Lynch Midwest Division Executive, as a Strategic Advisor and Consulting Expert

Continuing to grow and expand its national reach, Bates Group welcomes Paul Lambert as a Strategic Advisor and Consulting Expert. A 30-year financial services veteran at Bank of America Merrill Lynch, Paul will be working with senior leadership to expand our client engagement across the business. Read the full announcement to learn more about Paul and the experience he brings to the Bates team.

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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.