Posts tagged regulation best interest.
Securities and Exchange Commission Chair Jay Clayton issued an April 2 public statement that the SEC will hold firm on its June 30, 2020 deadline for firms to implement Reg. BI and Form CRS. There had been industry speculation that the SEC might push that compliance deadline back in the face of the COVID-19 pandemic.
Regulation Best Interest (“Reg. BI”) was adopted by the SEC last June in the wake of the turmoil from the Department of Labor’s “Fiduciary Rule” – a preemptive regulatory incursion into financial markets outside DOL’s usual “portfolio” that resulted in a ...