الثلاثاء, 14 آب/أغسطس 2018 08:23

SEC Gets Hit with First Major Best Interest Firestorm

Written by
Rate this item
(1 Vote)

(Washington)

Any advisor will know that the SEC’s new Regulation Best Interest has been under serious fire for the last couple of months. While it initially had a relatively warm reception from industry, brokers have railed against it more recently. Now, state attorney generals are mounting a furious push. The AGs of 17 states have come together to denounce the rule and demand a revision that mirrors the standard laid out in the old DOL rule. Specifically, the groups wants Reg BI to hold broker-dealers to the same standard as RIAs.


FINSUM: The SEC probably won’t do anything about this now, but this sets the stage for a major legal challenge before the rule may actually be implemented.

Contact Us

Newsletter

اشترك

Subscribe to our daily newsletter

Top