SEC To Vote On Reg BI
June 5, 2019 by Cassie Miller
The Securities and Exchange Commission is voting June 5 on a three-part rulemaking package containing regulation best interest.
While it is unknown what the final rule being voted on will look like, the proposed rules attempt to fill in holes left by the vacated Department of Labor fiduciary rule and issue a firm federal ruling in the wake of states enacting their own standards, creating a patchwork of rules across the country.
In addition to Regulation Best Interest, the vote will include three other items: Form CRS, Standard of Conduct for Investment Advisers and an item not included in the rulemaking package called Interpretation of “Solely Incidental.”
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