Independent Broker Dealer Consortium

None of Your BI Business? – The Impact of Regulation BI on Broker-Dealers and Investment Advisers

On June 5, 2019 the Securities and Exchange Commission (“SEC”) voted to enhance the regulatory framework standard of conduct for broker-dealers (or “firms”) and provide an interpretation of the fiduciary duty for investment advisers by issuing Regulation Best Interest (“Reg BI”). The SEC is giving firms a transition period until June 30, 2020.

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