FINRA Releases Reg BI Notice
December 11, 2023 by Melanie Waddell
The Financial Industry Regulatory Authority has released a notice pointing broker-dealers to guidance issued by the Securities and Exchange Commission designed to help BDs comply with the agency’s Regulation Best Interest as both regulators continue bringing enforcement actions related to the rule.
In late November, FINRA barred a broker for excessive churning in the accounts of multiple customers, resulting in more than $2.3 million in losses and thereby violating Reg BI.
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Originally Posted at Think Advisor on December 11, 2023 by Melanie Waddell.
Categories: Industry Articles