News – Compliance and Regulatory Alerts

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.

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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.

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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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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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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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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 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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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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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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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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Page 4 of 9 pages.

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