How to prepare for the june 30 reg bi implementation

SEC’s new Regulation Best Interest (Reg. BI) takes effect on June 30, and requires all registered broker-dealers to implement complex new compliance and education procedures to revamp their communications with and service of retail customers. The new regulations require firms to design and circulate new disclosure documents, including form CRS for broker-dealers and Form ADV-3 for investment advisers. In addition, the term “adviser” may no longer be used by registered representatives who are not dually-registered as IARs. What should broker dealers and investment advisers be doing to become compliant with the new regulations, which require disclosure and mitigation of conflicts of interest and other changes in the way many firms do business? While many larger firms have staffs of compliance professionals and in house lawyers supervising the design of new CRS forms and Reg BI-compliant sales practice manuals, this interactive 90 minutes webinar is specifically targeted for independent broker-dealers and smaller investment advisers.

Best Interest Definition (or lack thereof)

Roadmap Document

General Obligation

Disclosure

Care

Conflicts of Interest

Compliance

Rule-Compliance P & Ps

BD vs RIA vs Dual Registrants

Products & Conflicts

Implementation Strategies

Training

Coordination with Impacted Business Process Owners

Recordkeeping Implications

Form CRS Development & Distribution

Evidencing Compliance

Balancing a “wait and see” approach with appropriate/right-sized proactively based on risks and operational capabilities

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