Regulation Best Interest

Reg BI and Form CRS failures lead to penalty for Texas-based broker-dealer

The Reg BI violations affected about 5,900 retail accounts, causing the clients to pay $936,000 more in expenses for substantially equivalent funds than they otherwise ...

Examiners are looking to determine whether P&Ps are "reasonably designed" based on the costs, risks, and rewards of the investment strategies recommended to customers

"Under both Reg. BI and the fiduciary duty standards, disclosure of a conflict of interest is the starting point to addressing conflicts, but satisfying the ...

Violations of Reg BI's care and compliance obligations led to SEC charges against the London-based Laidlaw & Co. (UK)

Although Laidlaw had monitoring procedures to detect potential violations by reps of the quantitative prong of the Care Obligation, Laidlaw did not reasonably maintain and ...

Respondents employed a strategy of taking quick profits on part of a particular securities position resulting in frequent trade recommendations in these accounts .... As ...

Reps recommended and executed over 2,000 trades in these customers’ accounts without regard for the high transaction costs This high volume of recommended transactions and ...

The firm's revised P&Ps now require reps to request oral consent to electronic delivery from customers using a consent and disclosure script. If a customer ...

Broker-dealer's Reg BI P&Ps weren't tailored to business, offered no guidance for reps/supervisors and didn't detail enforcement mechanisms