Latest Reg BI fine from FINRA shows why boilerplate policies no longer work

FINRA sends a clear signal that procedural lapses alone can now constitute a violation.

Regulation Best Interest (Reg BI) was designed to elevate the standard of conduct for broker-dealers and their registered representatives. But nearly five years after its adoption, regulators are signaling that compliance cannot be achieved through minimal paperwork or vague assurances. FINRA’s recent enforcement actions make clear that firms must

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