News & Events – Compliance and Regulatory Alerts

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.

The Treasury Department's final anti-money laundering (AML) rule for investment advisers mandates risk-based AML programs for most SEC-registered advisers. While some industry concerns were addressed, significant preparation is needed.

The Fifth Circuit Court of Appeals has issued a ruling vacating the SEC's previously adopted rule package for private fund advisers. 

The SEC has voted to finalize its proposed amendments to rules governing the protection of clients’ non-public personal information (PII). What are the important changes in the final rule?

On May 13, The SEC and FinCEN jointly proposed a new rule requiring certain advisors to implement Customer Identification Programs (CIPs). This move aims to strengthen anti-money laundering (AML) and counter-terrorism financing (CFT) efforts within the investment sector.

The U.S. Department of Labor has announced the finalization of the Retirement Security Rule, updating the definition of an "investment advice fiduciary."

The SEC has announced its adoption of amendments to the internet adviser exemption governing SEC registration eligibility for certain internet investment advisers. Any adviser no longer eligible under the exemption must withdraw its SEC registration and register in one or more states by filing a Form ADV-W by June 29, 2025.

The SEC has issued a press release announcing settled charges against two investment advisers for making false and misleading statements about their purported use of artificial intelligence (AI). The firms agreed to settle the SEC’s charges and pay $400,000 in total civil penalties.