By Kyle Brasseur2023-04-21T17:46:00
Staff at the Securities and Exchange Commission (SEC) issued a bulletin Thursday addressing standards of conduct for broker-dealers and investment advisers in addressing their care obligations under Regulation Best Interest (Reg BI) and the Investment Advisers Act.
Reg BI, which took effect in 2020, requires financial professionals to act in the best interests of a customer when offering investment strategies involving securities. Compliance with the rule was highlighted by the SEC earlier this year as an area of examination priority in 2023 after examiners in January issued a risk alert listing deficiencies they found in broker-dealer’s efforts under the rule.
A key tenet of Reg BI is its care obligations, which require investment advisers to:
2023-09-25T18:57:00Z By Jeff Dale
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
2023-08-28T13:44:00Z By Aaron Nicodemus
Even though compliance dates for the Securities and Exchange Commission’s new private fund rules are a year to 18 months away, compliance teams should start analyzing the impact now, according to experts.
2023-08-24T13:41:00Z By Aaron Nicodemus
The Securities and Exchange Commission passed a sweeping set of rules for the $26 trillion private fund industry designed to increase transparency and competition but with provisions that address industry concerns about potential overreach.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
2025-09-29T19:09:00Z By Adrianne Appel
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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