Regulatory Outlook | 01.20.21
Gensler Expected to Put Teeth in Reg BI — Not Overturn it
President-elect Joe Biden said on Monday he will nominate Gary Gensler to be the next SEC chair. If he’s confirmed by the Senate, Gensler likely will amend The SEC's Regulation Best Interest (Reg BI) rather than end it and start over, said Barbara Roper, director of investor protection at the Consumer Federation of America. Torching Reg BI would ignite a battle with the financial industry, which mostly supported the measure. It can be strengthened while avoiding such fireworks, Roper said.
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