So, after all the hubbub about how Reg BI was going to turn the brokerage industry on its head, given the new standard of conduct – more like that of a fiduciary – that it was imposing on BDs and ...
Finra announced today that it has expelled Melville, N.Y.-based broker-dealer SW Financial for multiple Reg BI and suitability violations, including making misrepresentations to customers in its sales ...
No one can say that the securities industry hasn’t had fair warning. Both Finra and the Securities and Exchange Commission have brought their first Regulation Best Interest enforcements this fall and ...
Regulation Best Interest now ranks 14th on the list of the types of controversies involved in disputes between customers and brokerages. It likely will keep rising on the list. By Mark Schoeff Jr.
On September 28, 2022, FINRA settled its first formal action alleging violations of Regulation Best Interest, Rule 15l-1(a) under the Securities Exchange Act of 1934 (Reg BI). In Charles v. Malico, ...
While the SEC is working to put teeth into Regulation Best Interest, questions remain about how it’s working in practice. By Mark Schoeff Jr. The SEC implemented Regulation Best Interest in June 2020 ...
It has been nearly five years since the SEC's adoption of Regulation Best Interest and four since the conduct standard started being enforced. That leaves 35 cases centered on Reg BI's central tenet, ...
Regulation Best Interest, or Reg BI, is a series of rules from the Securities and Exchange Commission (SEC) that govern how broker-dealers and financial advisors must treat their customers.
Too many firms continue to skirt Regulation Best Interest requirements when recommending non-traded real estate investment trusts to clients, according to a new analysis from the North American ...
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