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Regulation Best Interest

Regulation Best Interest or Reg BI

While both broker-dealers and investment advisers may be subject to a best interest standard of conduct, there are significant differences in the customer/client relationship covered
The firm was asked to hand over everything from a list of retail customers to fee “grids or schedules” to information on any “bonuses or ...
"Include any considerations and limitations on making recommendations to retail customers (including when recommendations must be documented) and the disclosures must be made to retail ...
However, if you’re unclear in what capacity you’re acting then you “should assume that both Regulation Best Interest and the Investment Advisers Act would apply
The fact that the recipient of the recommendation is a regulated financial services industry professional would not excuse a firm from complying with Regulation Best ...
The new regulation abandons the “core principles of the Advisers Act” ... as investment advisers and B-Ds “are as different as butchers and nutritionists.”
"Although Regulation Best Interest may not be the policy that Petitioners would have preferred, it is what the SEC chose after a reasoned and lawful ...
SRO reveals current enforcement, examination and rulemaking priorities
Advisers and B-Ds should especially focus on rollovers and 401(k) withdrawals
Spending on projects that are not directly related to compliance with the new rules may be worth putting off
"Broker-dealers and investment advisers should review their operations to be sure they are making recommendations or providing investment advice to retail investors that is in ...
FINRA addresses question of Reg BI 'material change'
Guidance addresses when a retail customer is judged to have "used" a recommendation
More on recommendations and also on making disclosures in Spanish
Digital advisors and broker-dealers sprung up as a way to simplify the lives of ordinary investors. Now those companies that famously disrupted the financial services ...
The prohibition would not extend to a B-D that is also a state-registered investment adviser
The Commission did not expressly prohibit the use of these names and titles by broker-dealers
Sideletter
Broker-dealers and dual registrants hoping to get right with the pending Reg BI deadline should put together a “conflicts inventory” and focus training on the ...
SRO reviewed B-Ds ongoing efforts and challenges with Reg BI
The SRO will take the same approach outlined in the Commission's two risk alerts
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