9b. BD - Regulation Best Interest: Where We Are Now (Intermediate - OPEN)
The SEC has issued guidance, taken legal actions, and signaled there is little leeway for non-compliance. How do you assess your firm’s level of compliance or potential exposure to regulatory actions. The panelists will discuss the nuances of the guidance and caselaw, recent examination focus, and identify strategies and tactics to effectively implement your Reg BI compliance program to get ahead of the regulators. Emphasis will be placed on developing processes for documenting product selection based on comparison of reasonably available alternatives.
This session is open to regulators, but closed to members of the press.
Learning Objectives:
Analysis of the regulatory guidance and Reg BI cases.
Discuss reasonable processes for product selection and assessment of alternatives across asset classes such as variable annuities, mutual funds, and ETFs.
Assess when a non-securities product recommendation may be subject to Reg BI. If it’s not a security, how does Reg BI apply?
Consider issues arising from the use of vendor platforms designed to compare alternatives.
Identify the minimum regulatory expectations for documentation practices for Firms and Representatives.
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