Regulation Best Interest

A broker-dealer’s “policies and procedures must address not only conflicts of interest but also compliance with its Disclosure and Care Obligations under Regulation Best Interest”

Barouti would fill out the Investor Suitability Questionnaire and Subscription Agreement with his customers, including checking all boxes attesting to the customer’s high-risk tolerance, and ...

WSPs discussed Reg BI in general terms, but did not drill down on certain specific provisions

Customer complaint leads to FINRA charges

The firm's 'CCO did not have access to sufficient information about the clients of the Converted Accounts with which to evaluate the suitability of their ...

JP Morgan Securities self-reported the issue to the Commission staff, undertook an investigation to confirm that there were no other Clone Pairs available for recommendation ...

The case offers lessons for brokerage firms involved with complex financial instruments

Thrivent promptly identified and reported the violations during an SEC examination and paid $22k to 846 retail customers as a result

State Farm failed to establish, maintain, and enforce written policies and procedures reasonably designed to achieve compliance with Regulation BI because it did not provide ...

The firm failed to resolve known compliance system deficiencies related to the merger