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Reg BI is slow to make impact

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GRIP

5 min read
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When it was introduced in 2020, the SEC’s Reg BI was intended to make broker-dealers take better care of their retail clients. We look at whether that has happened over the last two years.

When the US Securities and Exchange Commission (SEC) introduced its Regulation Best Interest (Reg BI) rules in June 2020, broker dealers were expected to apply a higher standard of care when providing investment recommendations to retail clients. Many had dubbed the new framework ”suitability on steroids,” given that it bulked

But

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