First Hints of Potential New DOL Fiduciary Rule Emerge
The Department of Labor has submitted a draft regulation to the Office of Management and Budget.
Tag: Reg BI
Arizona Is Latest State to Approach New Annuity Regulations
The state is following in the footsteps of Iowa, which earlier this month adopted a regulation to require annuity agents to act in the best interest of their customers.
Form CRS Solutions Coming Online Ahead of Reg BI
One critical component of the Regulation Best Interest is the customer relationship summary form, or “Form CRS,” which provides new and existing clients with detailed information about a firm’s products, fees, conflicts of interest, disciplinary history and more.
Trade Groups Call on Iowa to Align with Reg BI
At a digital hearing conducted by the Iowa Insurance Division, industry representatives asked the state regulator to grant a safe harbor for broker/dealers that comply with Reg BI.
Nearly Time to Comply with Reg BI
Some see the SEC’s Regulation Best Interest as “nothing new,” while others say it will be a game changer when it takes effect June 30. Likely the biggest impacts will be felt by dual registered firms and broker/dealers.
Iowa Best Interest Standard Aligns with NAIC Model
Iowa’s new proposed conflict of interest mitigation rules are based closely on the model framework finalized earlier this year by the National Association of Insurance Commissioners—with some important differences.
What to Expect in an SEC Regulation Best Interest Inspection
Two new risk alerts published by the SEC provide broker/dealers and advisers with advance information about the expected scope and content of the initial examinations for compliance with Regulation Best Interest and Form CRS.
InvestorCOM Launches Reg BI Compliance Platform
The SEC has confirmed that the COVID-19 pandemic will not halt the implementation of the SEC’s Regulation Best Interest, which has a general compliance date of June 30.
SEC Says Coronavirus Will Not Delay Reg BI, Form CRS
“The uncertainties caused by COVID-19 have not changed our perspective or commitment,” SEC Chairman Jay Clayton says.
Time to Comply: No ‘Grace Period’ Likely for Reg BI
As the SEC’s June 30 Regulation Best Interest deadline nears without hope of a grace period, sources say many financial services firms aren’t ready to comply.
Opposition, and Support, Continue for Reg BI
Former Congressmen Dodd and Frank join the legal challenge, while the financial and insurance communities largely stand behind the rule.
Sen. Warren Warns DOL About Adviser Conflicts of Interest
The Democratic presidential candidate tells Department of Labor Secretary Scalia she fears the DOL is considering standards of conduct that would permit advisers providing advice on retirement savings to engage in conflicts of interest.
Co-Founder of XY Planning on Why His Firm Has Sued the SEC Over Reg BI
The rule blurs the line between advice and sales, potentially hurting both advisers and investors, he says.
FINRA Pledges Resources to Support Members’ SEC Reg BI Compliance
The self-regulatory organization says it will help members implement the SEC's sweeping new conflict of interest disclosure rules.
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Now Who Is a Fiduciary?
How the SEC's best interest rule could affect plans, IRAs
House Continues Fiduciary Fight
The lower chamber has voted to block funding for the SEC to implement and enforce Regulation Best Interest.