By Aaron Nicodemus2023-01-31T20:04:00
The Securities and Exchange Commission (SEC) on Monday issued a risk alert listing deficiencies its examiners found in broker-dealers’ compliance with Regulation Best Interest (Reg BI).
Under Reg BI, which took effect in 2020, financial professionals are obligated to act in the best interests of a customer when offering investment strategies involving securities.
Examiners at the SEC’s Division of Examinations found firms implemented generic policies and procedures for Reg BI compliance that were not tailored to their business model, according to the alert. In some cases, firms simply restated the rule’s requirements without offering any guidance or guidelines.
2024-06-06T19:22:00Z By Aaron Nicodemus
A risk alert from the Securities and Exchange Commission listed top reasons why a registered broker-dealer might be the subject of an examination.
2023-04-21T17:46:00Z By Kyle Brasseur
Staff at the Securities and Exchange Commission issued a bulletin addressing standards of conduct for broker-dealers and investment advisers in addressing their care obligations under Regulation Best Interest and the Investment Advisers Act.
2023-04-17T17:56:00Z By Jeff Dale
Corvex Management agreed to pay $1 million to settle allegations it failed to disclose personnel ownership in certain sponsors of special purpose acquisition companies and didn’t have policies and procedures reasonably designed to thwart conflicts of interest.
2025-08-28T20:40:00Z By Aaron Nicodemus
The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
2025-08-27T19:46:00Z By Aly McDevitt
The SEC has named Margaret “Meg” Ryan, a senior military judge and Harvard Law lecturer, as its next Enforcement Division Director—an unconventional pick that could signal changes in enforcement strategy.
2025-08-22T19:05:00Z By Adrianne Appel
Businesses operating in California will need to meet new, first-in-the-nation privacy requirements for cybersecurity, risk assessments, and automated decision-making technology, under a large expansion of rules by the state.
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