SEC, FINRA Share Initial Form CRS, Reg BI Observations in Virtual Roundtable
The SEC and FINRA held a virtual roundtable to discuss initial observations on compliance with Regulation Best Interest (Reg BI) and Form CRS.
October 28, 2020
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New Reg BI FAQs Focus on Use of “Adviser” and “Advisor,” Dual-Hatted Employees
SEC staff issued several new FAQs on August 4 on the application of Regulation Best Interest (Reg BI) to dual registrants and dual-hatted employees that may be of interest to IAA members.
August 11, 2020
The Court of Appeals for the Second Circuit has denied petitions to overturn the SEC’s Reg BI, which adopts a new standard of conduct for broker-dealers when they make recommendations to retail customers.
June 29, 2020
Clayton Urges Increased Care for Retail Investors in Wake of Pandemic
SEC Chairman Jay Clayton confirmed in a recent public statement that the June 30, 2020 compliance date for Form CRS and Regulation Best Interest (Reg BI) remains in effect.
June 18, 2020
New SEC Risk Alerts Detail Scope, Content of Compliance Exams for Form CRS, Reg BI
The SEC examination staff has issued a Risk Alert providing the expected scope and content of initial examinations for compliance with Form CRS.
April 07, 2020
SEC Says No to Extending Form CRS, Reg BI Deadlines
The SEC has declined to extend the filing and delivery deadlines for the new Form CRS and the implementation date for new Regulation Best Interest.
April 07, 2020
Takeaways for Advisers from SEC FAQs on Regulation Best Interest
The FAQs address questions related to a broker’s (i) communications and account “recommendations” that are subject to Reg BI; (ii) disclosure obligations; (iii) care obligation; and (iv) conflict of interest obligations.
January 16, 2020