04.13.22

Reg BI Education Ongoing on Capitol Hill

by: James Rogers

Congressional staff turnover and the impact of the COVID-19 pandemic mean that Regulation Best Interest (Reg BI) education efforts are ongoing on Capitol Hill, according to Elizabeth Varley, vice president of federal government affairs at Ameriprise Financial. “We are getting in there, and we’re educating new staffers and providing them the background on the evolution of this issue, even going all the way back, for some staffers, to understand Dodd Frank and how that led to the U.S. Securities and Exchange Commission doing a study and then the U.S. Department of Labor stepping in,” Varley said. “And then reminding them about the timeline of Reg BI and the fact that it did go into effect in June of 2020.”

Read the full article on Financial Advisor IQ