Reg BI Enhances Consumer Protections with Uniform, Nationwide Standard

June 5, 2019

The Securities and Exchange Commission (SEC) today voted to finalize Regulation Best Interest (Reg BI), which significantly enhances the standard of care that broker-dealers (BDs) and their registered representatives (RRs) owe their clients. The standard contained in Reg BI exceeds the existing suitability standard by requiring BDs and their RRs to act in the best interests of their clients when recommending any securities transaction or investment strategy involving securities, without placi...

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