Takeaways From SEC Staff's Latest Reg BI Expansion

By Daniel Michael, Heather Cruz and Sophia Harris-Dyer (May 3, 2023, 3:01 PM EDT) -- On April 20, the U.S. Securities and Exchange Commission released a staff bulletin on the care obligations of broker-dealers and investment advisers pursuant to Regulation Best Interest and the Investment Advisers Act of 1940, respectively.[1] Though styled as questions and answers "reiterating" the relevant standards of conduct, several portions of the bulletin appear designed to impose heightened requirements....

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