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Reg BI - What Does "Best Interest" Mean to Broker-Dealers, Is it Just a Suitability-Plus Standard, and More
May 30, 2018
1:00 p.m - 2:00 p.m. EDT
We are inviting broker-dealers to 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.
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