Hundreds of pages of regulations amount to nothing until they’re enforced
We don't know how Reg BI or the CFP credential's fiduciary standard work in practice because there has been no substantial punishment for violating them.
Investor advocates, financial advisors and industry officials are never at a loss for words when I ask them their opinions about Regulation Best Interest. What no one can tell me nearly three years after Reg BI went into force is whether it's working.
We have yet to see much in the way of investo
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