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PLI’s blog edited by Clifford E. Kirsch on Regulatory Developments for BDs and IAs.
New leadership at the SEC has indicated that they will be very forceful in ensuring broker-dealers comply fully with recently adopted rules imposing a heightened standard of conduct on them. At the same time state securities regulators are actively reviewing the effectiveness of these new rules to determine what, if any, additional steps they should take, while state insurance regulators continue to advance their standard of conduct rules applying to insurance professionals. To add to the mix, the DOL has indicated that they will shortly be advancing new guidance on their end as to when someone becomes an investment advice fiduciary.
While the standard of conduct applying to financial professionals continues to take shape, the retail investing landscape is undergoing a sea change with the advent of self-directed trading platforms, digital advisory services and no commission trades. The SEC and other securities regulators are acting swiftly to address these emergent avenues for retail investment.
Topics to be discussed include:
- How will the SEC’s Division of Examinations assess compliance with Regulation Best Interest in 2022?
- Will the SEC’s request for comment on digital engagement practices lead to any new digital rules?
- Will state securities regulators adopt a fiduciary framework applying to broker-dealers?
- Will the SEC regulate payment for order flows?
*Formerly offered as Fiduciary Investment Advice
Intended Audience & Prerequisites:
Attorneys and other professionals involved in securities, retail investing, corporate, banking and finance, and insurance law; in-house counsel and compliance professionals, financial advisors, bankers and accountants; and those employed in supervisory positions throughout the financial services industry.
An interest in the rules governing fiduciary investment advice.