SEC effort to give Reg BI more teeth has yet to bite
It’s not clear when the agency will announce its first major enforcement actions regarding recommendations brokers make to customers, the substantive heart of the regulation.
Securities and Exchange Commission Chairman Gary Gensler told lawmakers last year that the agency would work to ensure Regulation Best Interest lives up to its name.
The broker standard of conduct was approved and implemented under previous SEC Chairman Jay Clayton and the agency’s Republican m
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