FINRA Board Member Chris Flint on Reg BI: Failure Is Not an Option
March 20, 2020 by Rich Blake
ProEquities CEO and FINRA board member, Chris Flint, told BISA Portfolio that based on the feedback he has received from people within his firm and around the industry, the push to comply with new client advice rules is full-steam ahead.
“There’s no grading curve,” Flint said. “As I told my team, this is pass/fail.”
The deadline for the new Securities and Exchange Commission (SEC) rules, known as Regulation Best Interest, or “Reg BI,” is June 30.
Coordination and communication are the two most crucial factors coming into play as the clock continues to tick, Flint said.