Contact Bates Today

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.

Get My Solution Started

Bates Group Logo

This is a test alert message at the top of the Bates website - Action Link

The SEC Marketing Rule - What You Need to Know
Image © [Rawpixel.com] /Adobe Stock

08-02-22

The SEC Marketing Rule - What You Need to Know

The mandatory compliance deadline for the SEC marketing rule—which replaced the former Advertising Rule and the Cash Solicitation Rule—is November 4, 2022. Advisers should be reviewing, revising, and preparing to implement procedures and policies to prevent potential violations. There’s still time, but there’s also a lot to consider, as the rule consolidates previous SEC guidance, no-action letters and exam findings on questions concerning recommendations, testimonials, and the presentation of performance metrics. Here’s what you need to know.

Read More

FINRA Proposes Updates to Supervisory Rule on Home Offices
Image © [chika_milan] /Adobe Stock

07-28-22

FINRA Proposes Updates to Supervisory Rule on Home Offices

FINRA has filed with the SEC proposed changes to FINRA Rule 3110 to add new Supplementary Material 3110.19 (Residential Supervisory Location). The changes allow a home office to be considered a non-branch “residential supervisory location” under certain conditions. By this proposal, FINRA is adapting to a new, post-pandemic model in which employees work at both conventional offices and in their private residences—a model which FINRA acknowledges is likely to “endure.” Read the full article for details on these proposed rule changes.

Read More

Reg BI Makes FINRA’s Dispute Resolution Stats List and Other Notable Arbitration Developments

07-07-22

Reg BI Makes FINRA’s Dispute Resolution Stats List and Other Notable Arbitration Developments

An inevitable—if somewhat subtle—milestone was reached this month for Regulation Best Interest. Posted on FINRA’s monthly dispute resolution statistics page are numbers related to the top 15 security types in customer arbitrations, and coming in at number 14 (through May 2022) was Reg BI. Other recent developments in dispute resolution include movement on rule proposals concerning accelerating processes for elderly claimants, and amendments to align the arbitration code with a new federal law on sexual assault and harassment. FINRA also committed to producing a plan to enhance the transparency of the arbitrator selection process. In addition, the SEC has issued a new primer on arbitration and mediation. Here are the highlights to note.

Read More

Fighting Elder Financial Exploitation: FinCEN Releases Behavioral and Financial Red Flags, NASAA Publishes Guidance on POAs, CFTC Releases Warnings
Image © [LIGHTFIELD STUDIOS] /Adobe Stock

06-23-22

Fighting Elder Financial Exploitation: FinCEN Releases Behavioral and Financial Red Flags, NASAA Publishes Guidance on POAs, CFTC Releases Warnings

Timed to coincide with World Elder Abuse Awareness Day on June 15, 2022, federal and state government officials issued proclamations, advisories, and new resources to help in the fight against senior financial abuse. Despite many government initiatives now in place to go after the perpetrators of elder financial abuse, the problem continues to grow. Taken together, these latest government alerts offer a snapshot of where things stand. In this article, we take a look at the most significant developments.

Read More

Regulatory and Legislative Action on SPACs Gaining Momentum: SEC Rule Proposal and Senate Legislation Introduced; Class Actions Growing
Image © [iQoncept] /Adobe Stock

06-09-22

Regulatory and Legislative Action on SPACs Gaining Momentum: SEC Rule Proposal and Senate Legislation Introduced; Class Actions Growing

It has been clear for some time that regulators are targeting special purpose acquisition companies (“SPACs”) for increased scrutiny, tighter rules, and aggressive enforcement. Both the SEC and Senate legislators are proposing new rules and laws governing SPACs. This regulatory and legislative activity comes amid poor overall SPAC performance and volatility. In this post, we review the proposed SEC regulation, Senator Elizabeth Warren’s SPAC report, the anticipated legislation, and current conditions.

Read More

Meet Bates at the SIFMA C&L Regional: St Louis, June 8, 2022

06-08-22

Meet Bates at the SIFMA C&L Regional: St Louis, June 8, 2022

Meet Bates Director Joe Thomas and Experts Clay Grumke and Jeff Jamieson (pictured, from L) in St. Louis at the SIFMA C&L Regional Seminar, June 8, 2022, at the Edward Jones Conference Center. Bates cybersecurity expert Paul Horn (pictured, R) will appear on the afternoon panel “Managing Cybersecurity and Data Risk in Today’s Technological Environment” at 1:30 p.m. CT.

Read More

Bates Welcomes New Consulting and Testifying Experts – June 2022

06-07-22

Bates Welcomes New Consulting and Testifying Experts – June 2022

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

Joan Marie Asher, CIFD, IACCP - Hedge Funds, Private Equity, Alternative Investments

Jeffrey L. Baliban, MA Econ, CPA/ABV/CFF, CDBV - Business and Economic Damages, Business Valuation, Accounting

Jeff Jamieson - Litigation, Regulatory, Internal Investigations

Read More

Non-Fungible Tokens: a Beginner’s Perspective

06-01-22

Non-Fungible Tokens: a Beginner’s Perspective

What is a Non-Fungible Token (NFT)? We've all heard of NFTs by now, and when this term comes up in the news or a talk with friends, there is no shortage of opinions. In this article, we examine what NFTs are, how they work, and some of their potential risks and benefits. 

Read More

SEC Proposes Amendments to ESG Disclosure Rules and Forms

05-31-22

SEC Proposes Amendments to ESG Disclosure Rules and Forms

The SEC last week issued a proposal to require “registered investment advisers, certain advisers exempt from registration, registered investment companies, and business development companies” to disclose information on environmental, social and governance (“ESG”) investment practices and strategies in fund registration statements, prospectuses, annual reports, and adviser brochures. The 362-page proposal contains new disclosure requirements and would amend numerous Forms for funds and advisers.

Read More

SEC Chair Gensler Speaks: The Latest on the SEC’s Agenda

05-26-22

SEC Chair Gensler Speaks: The Latest on the SEC’s Agenda

In a conversation with FINRA President Robert Cook at FINRA’s annual conference last week, SEC Chair Gary Gensler discussed his agency’s rulemaking agenda by explaining that the market is in the midst of a transformation that requires adjustments, modernizations and updates to existing regulations. The next day, Chair Gensler addressed an audience of State securities regulators on the implication of digital engagement practices on broker-dealer and adviser obligations. Here are some of the highlights from both events.

Read More

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.