11.15.22
Reg BI Remains Top Priority for 2023 Exams
by: Melanie Waddell
Regulation Best Interest (Reg BI) and the Advisors Act fiduciary duty “remain a top priority” for U.S. Securities and Exchange Commission (SEC) exams in 2023, said Richard Best, head of the SEC's Division of Exams. Speaking at the SEC’s National Compliance Seminar, Best said that the exam division is “focused on how broker-dealers and investment advisors satisfy their obligations under the Reg BI and the Advisors Act fiduciary standard to act in the best interest of retail investors and not to place their own interests ahead of retail investors’ interest.”
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