In a previous piece, we covered recent developments involving Regulation Best Interest (Reg BI) and Form CRS Relationship Summary (Form CRS) of the SEC’s standards package, and the confirmation of the rules’ compliance date of June 30. Now that we have entered into the compliance stage, it is time to focus on upcoming Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA) examinations of these rules, and walk through a sample self-assessment to help companies prepare.
Exam Approach
If you are concerned that the SEC and FINRA are planning different approaches to examine compliance with Reg BI ...