News & Events

Bates is a proud Networking sponsor of the 18th annual National Association of Women Lawyers (NAWL) General Counsel Institute, November 9-11, 2022. 

Under a proposed new rule, the SEC would require investment advisers to conduct due diligence and monitor “covered services” outsourced to third-party providers. The Commission said it recognizes that investment advisers are increasingly relying on outsourced sources to perform many functions in support of advisory services and, as a result, “more needs to be done to protect investors.” Bates breaks down what you need to know.

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.

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.

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.

Join us for a new complimentary webinar from MSBA: "Money Services Business Best Practices + Your Crypto Company." October 18, 2022, at 1 p.m. ET. Bates Senior MSB Consultant John Ashley will be speaking on the panel.

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.

Bates Group Money Services Business (MSB) and money transmitter expert Rob Ayers will be representing Bates Group in London at the 2022 International Association of Money Transfer Networks (IAMTN) Annual Summit. October 11-12, 2022

Bates Group is proud to be a part of INFiN MoneyTrends 2022, October 10-13 in Austin, TX. Learn about key AML and compliance topics from Bates leaders Connie Fenchel and Brandi Reynolds, and sign up for the intensive BSA/AML Compliance Training Session from Bates and Western Union.

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.

Join Bates at the South Carolina Bitcoin Blockchain Conference, October 5-7 in Charleston, SC. The conference will focus on Economic Development, Education, and Policy Guidance. Bates Managing Director Brandi Reynolds will be there as a panelist and moderator.

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.

In a new Risk Alert issued by the Division of Examinations, the SEC reminded investment advisers to review their written policies and procedures on the new marketing rule before the November 4, 2022 compliance deadline. 

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.

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.

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