Category: REGULATION BEST INTEREST (REG BI)

Regulation Best Interest (Reg BI) is a significant regulatory framework implemented by the U.S. Securities and Exchange Commission (SEC) aimed at enhancing investor protection standards. Introduced in 2019, Reg BI mandates that broker-dealers and their associated financial professionals act in the best interest of their retail customers when recommending any securities transactions or investment strategies. This standard requires brokers to prioritize the client’s financial interests above their own, avoiding conflicts of interest and providing full disclosure of fees, risks, and potential benefits associated with investment recommendations. Reg BI also necessitates the establishment and maintenance of written policies and procedures designed to ensure compliance with these obligations, promoting transparency and accountability in the financial advice provided to retail investors.

SEC-PR-2024-22

File ID: SEC-PR-2024-22 Date: February 16, 2024 Accessed: July 2, 2024 Headline:  SEC Charges TIAA Subsidiary for Failing to Act in the Best Interest of Retail Customers. Broker-dealer to pay more than $2.2 million for violating Reg BI. Source: https://www.sec.gov/news/press-release/2024-22 Categories: REGULATION BEST INTEREST (REG BI) SEC-PR-2024-22 – Viewer: ▼▼▼ (Download PDF File )