News & Events –

FINRA proposed amendments to the Codes of Arbitration Procedures for Customer Disputes and Industry Disputes that would affect the arbitrator list selection process. The proposed amendments would also make clarifying changes on administrative practices. 

Bates Compliance is a proud sponsor of the 2023 IAA Compliance Conference, March 12-14, 2023, in Washington, D.C. 

Bates is a proud sponsor of  the upcoming CLE program "Lessons Learned from Crisis in the Financial Markets," Wednesday, February 15th in NYC. Presented by The Future Leaders of SIFMA's Compliance & Legal Society, and featuring Bates Director and Expert Greg Kyle.

Romance scams are a growing concern, as evidenced by The Federal Trade Commission’s report that romance fraud is one of the most costly forms of consumer fraud in the United States. Read the full article for the warning signs AML and Compliance professionals should look out for, as well as Elder Exploitation red flags and Bank Secrecy Act obligations.

In its latest annual report on examinations and risk monitoring, FINRA offered the regulator’s perspective on strengthening compliance programs on Reg BI and the corresponding Form CRS. FINRA included observations from its compliance reviews on each of the core duties under the two-plus-year-old rule. These areas were also the focus of an SEC Division of Examination Alert on broker-dealer compliance with Reg BI and a recent Bates webinar, cosponsored with NICE Actimize, discussing how broker-dealer firms are adapting their compliance programs in response to Reg BI. The insights offered from both the regulatory officials and the private consulting community offer perspective on what lies ahead. 

The Securities and Exchange Commission’s Division of Examinations has just released its 2023 examination priorities report, providing insights into its risk-based approach, including the areas it believes present potential risks to investors and the integrity of the U.S. capital markets. Stay tuned for our annual commentary and chart, coming soon, on the SEC's 2023 priorities and how they may impact your legal, regulatory and compliance matters.

Bates Group AML Compliance and Virtual Assets Managing Director Brandi Reynolds, CAMS-Audit, will appear at the upcoming SWIFS Lunch and Learn "Fireside Chat: Crypto in the News" - Tuesday, February 14, 2023.

Are you a regulated financial institution that operates in New York? If so, it is important to familiarize yourself with the New York State's Department of Financial Services (DFS) Rule 504. The rule was put into place in 2017 and requires companies to establish anti-money laundering (AML) programs that meet the DFS’s specific and strict requirements, and to certify compliance with the regulation annually to the DFS. Bates has the details in this new article.

Meet Bates Group's Testifying experts specializing in Blockchain and Digital Assets, including Crypto and Virtual Currencies.

On January 23, 2023, the New York Department of Financial Services (NYDFS) issued new guidance on regulated entities which custody digital assets, registered either under its BitLicense regime or as limited purpose trust companies. The guidance is intended to offer clarity in regard to NYDFS’s expectations for regulated entities—their custody procedures, processes, practices, and controls over customer digital assets. Bates has the details in this new article from Senior Consultant John Ashley, CIPP/US, CCRS, CRCMP.

Issued on January 10, 2023, the comprehensive report from FINRA’s regulatory operations covers 24 topics addressing issues that "remain perennially important, with updates to reflect evolving risks, industry trends and findings from FINRA’s recent oversight activities." In this article, Bates summarizes FINRA’s continuing and emerging examination priorities. Our annual chart offers insight into how newly observed risks have added to and affected those priorities year over year.

Bates Group consultants Brandi Reynolds and John Ashley have combined their expertise with other AML, cryptoasset and law enforcement professionals to create an innovative new certification for financial crimes in the crypto space -- the “Certified Cryptoasset AFC Specialist" (CCAS) Certification from ACAMS.

Bates Managing Director Brandi Reynolds is speaking on the "State of Cryptocurrency As We Head Into The New Year" at the ACAMS Colorado Chapter Virtual Event, January 24, 2023.

Businesses that are interested in engaging in virtual currency activities in Louisiana must now take steps to file for a license from the state. Read our new alert for details and a link to the new license application checklist.

January is National Human Trafficking Prevention Month. Financial institutions play a critical role in helping to fight human smuggling and human trafficking by identifying suspicious behavior and sharing crucial intelligence with law enforcement officials.