03.26.20
SEC Mulling Reg BI Delay, but Exams Will Continue
by: Tracey Longo
The SEC is considering a delay in implementation of Regulation Best Interest (Reg BI), set to go into effect on July 30, according to Pete Driscoll, SEC's Director of Compliance, Inspections and Exams. His comment was in reply to a question about Reg BI's implementation date that was posed during a conference call. Driscoll noted however that examinations will continue. “We put a statement out that we are still doing exams, but we are being careful about the exams we do,” Driscoll said. “To the extent we reach out to a firm, we are working with them in terms of timing."
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