ACA’s Broker-Dealer practice assists our clients with navigating the SEC’s Regulation Best Interest (Reg BI) through educational resources and alerts, program reviews, assistance designing and implementing a customized action plan to meet Reg BI’s requirements, and more.
Reg BI was passed by the U.S. Securities and Exchange Commission (“SEC”) on June 5, 2019 to establish a standard of conduct for broker-dealers and their associated persons. The regulation requires broker-dealers to act in the best interest of their retail customers when recommending any securities transaction or investment strategy. Broker-dealers have until June 30, 2020, to comply with these new fiduciary requirements.