Regulatory Outlook | 09.20.21
Trading App Nudges Could Be Investment Advice, Trigger Reg BI: Regulators
Nudges from trading apps that encourage investors to buy stocks could amount to investment advice and subject the online platforms to the SEC's Regulation Best Interest, SEC Commissioner Allison Herren Lee said Sunday during a panel discussion at the North American Securities Administrators Association fall meeting. Also at the conference, Maryland Securities Commissioner Melanie Senter Lubin said that when online brokers encourage customers to trade, they could be exceeding the bounds of the brokerage model.
Read the full article on InvestmentNews