Recently, the U.S. Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert to provide broker-dealers with guidance on examinations regarding regulation Best Interest (“Reg BI”). Reg BI requires that when broker-dealers make a recommendation regarding securities to a retail customer it must act in the best interest of the customer, without placing its own financial or other interest ahead of the retail customer’s interest. The Financial Industry Regulatory Authority (“FINRA”) also ...
Broker-dealers (“BDs”) should be aware that, on June 5, 2019, the SEC adopted “Regulation Best Interest” (“Reg BI”), which requires BDs and their registered representatives (“RRs”) to “act in the best interest of the retail customer,” when “making a recommendation” regarding “a securities transaction or investment strategy.” In addition, the SEC’s new rules require BDs to deliver Form CRS relationship summaries (“Form CRS”) to retail customers. BDs will need to be in compliance with Reg BI and Form CRS, which were accompanied by more than ...
Blog Editors
Recent Updates
- Video: New H-1B Visa Fee, EEOC Shutters Disparate Impact Cases, Key Labor Roles Confirmed - Employment Law This Week
- New $100,000 H-1B Fee Proclamation – Implications and Action Steps
- Video: FTC Backs Off Non-Compete Ban, Warns Health Care Employers - Employment Law This Week
- Artificial Intelligence and Disparate Impact Liability: How the EEOC’s End to Disparate Impact Claims Affects Workplace AI
- Reminder: Massachusetts Salary Range Disclosure Requirements Take Effect in October