2nd Circ. Rejects Challenge To SEC's Regulation Best Interest

Law360 (June 29, 2020, 10:43 PM EDT) -- With only a few days left before its compliance date, the U.S. Securities and Exchange Commission's Regulation Best Interest was upheld by a Second Circuit panel unswayed by arguments that the new rule governing standards of conduct for broker-dealers doesn't do enough to protect investors.

The three-judge panel on Friday said that the Dodd-Frank Act authorized the SEC to promulgate Regulation BI, a rule approved one year ago that requires brokers to identify and "at a minimum disclose" all conflicts of interest, as well as mitigate conflicts that encourage those connected to the broker to put their interests or the firm's...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!