Presented by the firm's Best Interest Compliance Team

We hosted broker-dealers on a conference call on May 30 to discuss:

  • An overview of the SEC’s proposed rule known as “Reg BI.”
  • Is Reg BI a suitability-plus standard, what does this mean, and may it become something more – or less?
  • Which accounts are covered by Reg BI? Who is a retail customer? What is the impact on tax-qualified accounts?
  • Has the SEC defined “Best Interest,” or will it? How does this term relate to the proposal that registered investment advisers (RIAs) have a duty to act in their clients’ best interests?
  • How does Reg BI compare to the DOL’s Best Interest Standard of Care?
  • What, if any, impact could the SEC’s proposed guidance for RIAs have on Reg BI?
  • Form CRS for broker-dealers.
  • What are FINRA’s plans?
  • A status report on the DOL and the states.

For background information on the SEC’s recent proposals in this area, please see Drinker Biddle’s client alert available here.

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Questions? Please contact liz.jutila dbr.com