Tag: SEC

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...

“Iowans expect their financial professional to act in the consumer’s best interest when recommending an annuity,” says Iowa Insurance Commissioner Doug Ommen. “Iowa not only expects it, but...

FINRA previously addressed reporting of Paycheck Protection Program loan forgiveness in its FAQs related to COVID-19.

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.

The firm is accused of disadvantaging certain retirement plan and charitable organization brokerage customers by failing to recognize and act on the fact that they were eligible for...

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...

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...

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.

“The uncertainties caused by COVID-19 have not changed our perspective or commitment,” SEC Chairman Jay Clayton says.

While in-person participation is an important part of the financial system regulated by the SEC, the virus is forcing market makers to significantly adjust their operations.

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.

The new rule permits variable annuity and variable life insurance contracts to use a summary prospectus to provide disclosures to investors.

As the enforcement date approaches for the sweeping Regulation Best Interest rulemaking package, FINRA is working hand-in-hand with the SEC to ensure effective coordination—and to support advisers working...

The SEC says the firm disadvantaged certain retirement plan customers by failing to provide them with less expensive share classes for which they were eligible.

Critics of the Massachusetts fiduciary rule say it will interfere with the implementation of the SEC’s Regulation Best Interest; proponents say that’s exactly the point.

The SEC tackles this question and others in a new FAQ publication about the Regulation Best Interest rulemaking package, as does Morningstar in a new paper that examines...