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.
Questions? Please contact liz.jutila dbr.com