News | 08.06.19
Regulators Can Protect Investors, Support Advisors in a Post-Reg BI Environment
The SEC's Regulation Best Interest (Reg BI) has presented advisors and their regulators with an opportunity to create an improved framework that provides better access to objective, independent financial advice for all retail investors, writes Christopher Flint, CEO of ProEquities, who is seeking election to the Large Firm seat on FINRA's Board of Governors. In order to capitalize on this opportunity, says Flint, "we must ensure that FINRA’s Board of Governors includes members who understand how Reg BI will impact retail investors, advisors, and firms." Flint outlines key issues that will have a "profound" impact on the advice industry’s future: ending rulemaking by enforcement, giving equal weight to the views of financial advice-focused firms and their clients, countering misperceptions, and leveling the playing field between the RIA and broker-dealer spaces.
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