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SEC Chair Urges Caution Recommending Retirement Account Rollovers, Withdrawals

By NAIFA on Jun 18, 2020 9:07:19 AM

SEC Chairman Jay Clayton issued a statement June 15 reminding financial firms and advisors of the new, enhanced conduct standards found in Regulation Best Interest. Reg BI requires broker-dealers and their representatives to act in the best interest of their clients when making recommendations, and to not put the firm’s or representatives’s financial interests ahead of the consumer’s.

Topics: Retirement 401(k) Standard of Care Reg BI

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