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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-04-21T17:46:00
Staff at the Securities and Exchange Commission (SEC) issued a bulletin Thursday addressing standards of conduct for broker-dealers and investment advisers in addressing their care obligations under Regulation Best Interest (Reg BI) and the Investment Advisers Act.
Reg BI, which took effect in 2020, requires financial professionals to act in the best interests of a customer when offering investment strategies involving securities. Compliance with the rule was highlighted by the SEC earlier this year as an area of examination priority in 2023 after examiners in January issued a risk alert listing deficiencies they found in broker-dealer’s efforts under the rule.
A key tenet of Reg BI is its care obligations, which require investment advisers to:
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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2023-09-25T18:57:00Z By Jeff Dale
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
2023-08-28T13:44:00Z By Aaron Nicodemus
Even though compliance dates for the Securities and Exchange Commission’s new private fund rules are a year to 18 months away, compliance teams should start analyzing the impact now, according to experts.
2023-08-24T13:41:00Z By Aaron Nicodemus
The Securities and Exchange Commission passed a sweeping set of rules for the $26 trillion private fund industry designed to increase transparency and competition but with provisions that address industry concerns about potential overreach.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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