10.12.21
Reg BI to Be Folded Into Regular SEC Exams
by: Melanie Waddell
The SEC will be incorporating compliance with Regulation Best Interest (Reg BI) into its regular exams, said John Polise, associate director of the SEC’s Broker-Dealer and Exchange Oversight, during the Practising Law Institute’s SEC Speaks event. “What we’re working on now is we have a high level of fluency in our program of using Reg BI and we believe the registrants have an understanding of what we expect regarding Reg BI so we’ll be integrating it into our regular program and regular exams,” Polise said. “You may not get a ‘Reg BI exam,’” he continued, “but you may have Reg BI components in other exams.”
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