NASAA adopts model rule update to incorporate Reg BI at state level

The model rule significantly scales back a version from 2023 that industry participants said created new compliance obligations.

The North American Securities Administrators Association (NASAA) approved an amendment to its model Dishonest or Unethical Business Practices of Broker-Dealers and Agents rule, also known as its Conduct Rule.

That update will amend the model rule to incorporate a version of the SEC’s landmark 2020 Regulation Best Interest (Reg BI)

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in