SEC, FINRA Share Initial Form CRS, Reg BI Observations in Virtual Roundtable
The SEC and FINRA held a virtual roundtable on October 26 to discuss initial observations on compliance with Regulation Best Interest (Reg BI) and Form CRS. Reg BI and Form...
October 28, 2020
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...
August 11, 2020
The Court of Appeals for the Second Circuit has denied petitions to overturn the SEC’s Regulation Best Interest (Reg BI), which adopts a new standard of conduct for broker-dealers when...
June 29, 2020
Clayton Urges Increased Care for Retail Investors in Wake of Pandemic
Jay Clayton Saying the effects of the COVID-19 pandemic “weigh substantially in favor of implementing Reg BI and Form CRS requirements as soon as practicable,” SEC Chairman Jay Clayton...
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. The SEC staff also published a similar...
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. In an April 2 statement, Chairman Jay...
April 07, 2020
Takeaways for Advisers from SEC FAQs on Regulation Best Interest
The SEC staff in the Division of Trading and Markets has issued its first round of frequently asked questions (FAQs) on Regulation Best Interest for broker-dealers. The FAQs address questions...
January 16, 2020
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