Regulatory Alerts2019-07-12 | 2019-12164Added · Updated
Regulation Best Interest: The Broker-Dealer Standard of Conduct
The Securities and Exchange Commission adopted Regulation Best Interest to establish a new standard of conduct for broker-dealers when making recommendations to retail customers. This final rule enhances existing suitability obligations by requiring broker-dealers to act in the customer's best interest without placing their own financial interests ahead of the client's. The regulation mandates specific disclosure, care, conflict of interest, and compliance obligations that cannot be satisfied through disclosure alone.
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