Evaluating Reg BI Compliance

Unless the Securities and Exchange Commission (SEC) has a significant change of heart, the June 30 compliance date of its Regulation Best Interest (Reg BI) is almost upon us. However, broker/dealers (B/Ds) should not rest easy. In a Risk Alert published by the Office of Compliance Inspections and Examinations (OCIE), that agency announced how it will be investigating firms to evaluate Reg BI compliance. The alert is a valuable resource that firms might utilize to check their preparedness. It also allows, and encourages, continued work on compliance after June 30, particularly if the COVID-19 pandemic has hampered full compliance.

To read the PLANADVISER article, “Evaluating Reg BI Compliance”, with Groom Principal David Kaleda’s top five takeaways from the alert, click here.