On September 28, 2022, FINRA settled its first formal action alleging violations of Regulation Best Interest, Rule 15l-1(a) under the Securities Exchange Act of 1934 (Reg BI)....more
In June 2022, the U.S. Securities and Exchange Commission (SEC) filed its first complaint alleging violations of both the care and compliance obligations of Regulation Best Interest, or Reg BI. In SEC v. Western International...more
2/2/2023
/ Broker-Dealer ,
Conflicts of Interest ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Standard of Conduct
On January 10, 2023, FINRA issued its 2023 Report on FINRA’s Examination and Risk Monitoring Program to provide “insight into findings from the recent oversight activities of FINRA’s Member Supervision, Market Regulation and...more
On June 15, 2022, the SEC filed its first complaint alleging violations of the “care obligation” and the “compliance obligation” of Regulation Best Interest, Rule 15l-1(a) under the Securities Exchange Act of 1934 (Reg BI)....more
In June, the U.S. Securities and Exchange Commission filed its first complaint alleging violations of the care obligation and the compliance obligation of Regulation Best Interest, or Reg BI....more
On February 9, 2022, FINRA issued the 2022 Report on FINRA's Examination and Risk Monitoring Program to provide firms with "information that may help their compliance programs." The 2022 report addresses 21 topic areas. For...more