07.19.22
SEC Enforcement Will Help Ensure Reg BI Delivers on Investor Protection: Grewal
by: Mark Schoeff, Jr.
U.S. Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal told U.S. lawmakers that his division will help ensure Regulation Best Interest (Reg BI) delivers on its investor protection promises. In an appearance before the House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, Grewal indicated that the SEC's first Reg BI enforcement action last month will not be its last. Grewal said the initial Reg BI case was referred to enforcement by the SEC Division of Examinations. “There are other referrals,” Grewal said. “It remains to be seen. But it’s my hope with enforcement actions, with education and with compliance, that [Reg BI] is having its desired effect in the market.”
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