Session 4a. BD – Regulation Best Interest for Broker-dealers and Dual Registrants

The panel will provide an update on the status of Reg BI along with practical guidance on where firms should be in the process to implement policies and procedures to comply with Reg BI. The panel will address a range of broker-dealer business models and best practices for product due diligence, segregation of account types (BD vs RIA), customer profile and transaction recommendations, training and supervision.

Learning Objectives:

  • Update on SEC and FINRA interpretive guidance and the status of State fiduciary laws/litigation challenging Reg BI
  • Consider the applicability of Reg BI to different business models – dual registrants, independent, proprietary products, wholesale distribution, etc.
  • Evaluate specific account types and relationship considerations and product selection including the boundaries related to self-directed accounts and account “monitoring”
  • Understand Form CRS, from the BD and RIA perspective including the structure of the Form and filing requirements, as well as training and supervision