La Meer Launches Cloud-Based Reg BI Compliance Platform
The platform is known as ‘GRACE’ and seeks to make it easier for advisory firms to meet the requirements of Regulation Best Interest while working in a remote-first setting.
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DOL Aims to Quickly Simplify Conflict of Interest Framework
The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.
With Another Rule Proposal, DOL’s Fiduciary Saga Continues
The Department of Labor has taken yet another step forward in what has been more than a decadelong effort to update the fiduciary duty applying to investment professionals serving workplace retirement plans.
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DOL’s New Proposed Fiduciary Rule Aligns With Reg BI, NAIC Suitability
Multiple national-level conflict of interest rules are now aligned that will require financial professionals to act in the best interest of consumers.
Court Quashes Lawsuit Challenging SEC’s Reg BI
The 2nd U.S. Circuit Court of Appeals found the regulation, which goes into effect tomorrow, is authorized by Dodd-Frank and is not arbitrary and capricious.
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Client Relationship Summary
Who exactly needs to receive a Form CRS?
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Evaluating Reg BI Compliance
Five takeaways from an OCIE Risk Alert.
Arizona Finalizes and Adopts Annuity Transaction Best Interest Standard
Arizona Gov. Doug Ducey has signed into law a bill to establish a best interest standard applying to the sale of annuity contracts in the state.
Close Coordination Expected Between New DOL Rule and SEC’s Reg BI
Such alignment would be consistent with what the Department of Labor leadership has been signaling for a number of years now.
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.
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.