Here at Bloomberg Law, we have been tracking developments with the Securities and Exchange Commission’s standards package since it was issued in June 2019, focusing on the package’s two main components: Regulation Best Interest (Reg BI) and Form CRS Relationship Summary (Form CRS). Our coverage has included the birth of the package from the SEC’s initial heated meeting, a less-than-robust investor education campaign, and various efforts questioning the legitimacy of Reg BI.
Following the rules’ compliance date of June 30, the next logical questions are clear: Are firms ready? And if so, are they prepared for ...