SEC: Expanded Scrutiny of Reg BI Compliance Coming in January
December 23, 2020 by Alex Padalka
The SEC says it will step up examinations of broker-dealers in regard to their compliance with Regulation Best Interest, starting next month.
The compliance deadline for Reg BI, as well as for its companion customer relationship summary disclosure form, known as Form CRS, was June 30. Since then, the SEC’s Division of Examinations has been conducting exams to assess whether firms made a good faith effort to implement policies and procedures to comply with Reg BI, the regulator says.