FINRA intends to conduct 1,000 Regulation Best Interest (Reg BI) examinations — covering almost one-third of FINRA member firms — by year-end....more
On January 10, 2023, FINRA issued its 2023 Report on FINRA’s Examination and Risk Monitoring Program to provide “insight into findings from the recent oversight activities of FINRA’s Member Supervision, Market Regulation and...more
On February 9, 2022, FINRA issued the 2022 Report on FINRA's Examination and Risk Monitoring Program to provide firms with "information that may help their compliance programs." The 2022 report addresses 21 topic areas. For...more
Not long after the SEC adopted Regulation Best Interest (Reg BI) and the related Form CRS Relationship Summary in June 2019, the SEC Office of Compliance Inspections and Examinations (now the Division of Examinations) issued...more
The standard of conduct for broker-dealers is quickly becoming a crazy quilt of securities regulation. Apparently unsatisfied with the standard established under SEC Regulation Best Interest (Reg BI), some state securities...more
4/21/2020
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
Duty of Loyalty ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Standard of Conduct
As the June 30, 2020, compliance date approaches, broker-dealers are taking steps to implement Regulation Best Interest (Reg BI), which establishes a new standard of conduct when making recommendations to retail customers of...more
2/6/2020
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Consumer Insurance Products ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Form CRS ,
Investment Adviser ,
Investment Management ,
Life Insurance ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Standard of Conduct
On June 5, 2019, the SEC adopted a four-part regulatory package that includes: new Regulation Best Interest (Reg. BI), the related “Relationship Summary” disclosure form (Form CRS), and two interpretations of the Advisers...more
7/12/2019
/ Best Interest Standard ,
Broker-Dealer ,
Consumer Insurance Products ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Form CRS ,
Investment Adviser ,
Investment Management ,
Life Insurance ,
New Rules ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Standard of Conduct