The implementation date for Reg. BI and Form CRS remains June 30, 2020. The SEC’s initial compliance review will be focused on “good-faith efforts.” Firms should make good faith efforts to implement ...

Yesterday, SEC Chairman Clayton issued a public statement concerning the SEC’s implementation of Regulation Best Interest (“Reg BI”) and Form CRS, available here. 1 The bottom line: firms should not ...

U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton has publicly confirmed that the June 30 deadline for compliance with the SEC’s Regulation Best Interest (Reg BI) rulemaking package ...

One critical component of the Regulation Best Interest is the customer relationship summary form, or “Form CRS,” which provides new and existing clients with detailed information about a firm’s ...

Particularly for broker-dealer firms and investment advisors, the SEC examination program is the leading edge of enforcement activity. Today’s examination imperatives fuel tomorrow’s enforcement ...

A new FINRA analysis finds that the first full year of Reg BI and Form CRS compliance was rife with instances of poorly written supervisory procedures, inadequate staff training and conflict of ...

After 42 small cases involving firms that aren’t household names in wealth management, financial advisors are wondering when the SEC will ramp up enforcement of its new rule. But 12 settlements that ...

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We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

The actions illustrate Finra’s continuing crackdown on compliance shortcomings related to the conduct standard that was implemented in June 2020. By Mark Schoeff Jr. Finra imposed $185,000 in ...