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.
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SEC Chair Urges Caution Recommending Retirement Account Rollovers, Withdrawals
By NAIFA on 6/18/20 9:07 AM