News & Events – Compliance and Regulatory Alerts

FinCEN delays the Investment Adviser AML Rule to 2028, while the SEC proposes updates to “small entity” definitions affecting future rulemaking.

The SEC’s Division of Examinations spotlights common Marketing Rule deficiencies tied to testimonials, endorsements, and third-party ratings. Here’s what advisers should review now.

The SEC Division of Examinations has released its 2026 Examination Priorities with a renewed focus on fiduciary standards, complex and illiquid products, cybersecurity and AI, AML and sanctions. Learn what these priorities mean for IAs, B-Ds, funds and other registrants.

The SEC has announced how its divisions are operating during the ongoing government shutdown. Examinations, registrations, and other non-emergency work have been deferred, while emergency response functions remain available.

FinCEN has delayed the effective date for the IA AML Rule to Jan 2028 and signals plans to revisit the rule through a new rulemaking process.

The SEC has finalized amendments to Regulation S-P, requiring RIAs and other financial institutions to adopt breach response programs and notify clients of data incidents within 30 days. Learn key dates and how to prepare.

The SEC has withdrawn multiple high-impact proposed rules affecting investment advisers, including those on custody, cybersecurity, ESG disclosures, and outsourcing. Learn what this means for your compliance program.

Starting in 2026, most SEC-registered investment advisers and exempt reporting advisers will be required by FinCEN to implement formal AML programs, file SARs, and comply with recordkeeping and information-sharing mandates under the BSA. Learn what your firm should do now to prepare.

Bates Group Managing Director and Senior Growth Officer Brandi Reynolds, CAMS-Audit, CCAS, is quoted in a recent Bloomberg Tax article on the future of the Corporate Transparency Act following a major shift in reporting requirements from FinCEN.

The SEC has updated its Marketing Rule FAQs with key clarifications on extracted performance and portfolio characteristics. Advisers who advertise performance should review this guidance to ensure compliance with Rule 206(4)-1 and avoid misleading presentations.

In a recent article from InvestorCOM, Armin Sarabi shares key insights on the evolving fiduciary rule, compliance best practices, and technology’s role in staying ahead.

FINRA’s 2025 Regulatory Oversight Report highlights key compliance priorities, including AML system testing, FINOP obligations, AI in financial services, investment fraud risks, and third-party vendor vulnerabilities. Our Bates Comparison Chart tracks how these priorities have evolved year over year.

FINRA has published its 2025 Regulatory Oversight Report, highlighting key compliance insights, emerging risks, and new regulatory developments for member firms.

Key Takeaways from the SEC's National Compliance Outreach live webcast for investment advisers and investment companies on November 7, 2024.

Essential SEC compliance seminar for investment professionals - CCOs and senior compliance personnel: Join key sessions on security, marketing rules, and regulatory requirements.

The SEC Division of Examinations has released its exam priorities for fiscal year 2025, outlining a comprehensive approach to oversight that emphasizes both traditional and emerging market risks.