Regulation Best Interest or Reg BI
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Regulation Best Interest
Eight new FAQs cover six core areas
Adjusting or building upon current systems of supervision/compliance an option
These SEC FAQs can help you prepare for Reg BI
Reg BI arrives June 30: “The court knows what the timeline is. It’s up to the court”
Driscoll: The risk alert will be designed to “help firms prepare for potential exams”
Questions that could be asked on exams included
Regulators were emphatic: there will be no delay in Reg BI
SEC “staff reminds broker-dealers that the term ‘investment strategy’ ... is to be interpreted broadly”
Regulation Best Interest expressly applies to account recommendations including recommendations of securities account types
OCIE's 2020 exam priorities include "perennial risk areas" along with some new additions
