SEC action against Lion Street offers insight into standards of care for 2025

The Reg BI case against Lion Street Financial prompts discussion about how the rule has been leveraged for more doomed-to-fail proposals.

The SEC announced settled proceedings against Lion Street Financial LLC for alleged violations of Regulation Best Interest (and the company’s own policies) and making recommendations to retail customers during the relevant period without exercising the reasonable diligence, care, and skill to understand the potential risks, rewards, and costs associated with

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