Regulatory Outlook | 10.14.20
XYPN Rules Out Supreme Court Appeal over Reg BI
The XY Planning Network (XYPN) said Monday it will not appeal to the Supreme Court to overturn the SEC's Regulation Best Interest (Reg BI) and will instead launch advocacy efforts at the state level to promote investment advice reform. Over the summer, the 2nd U.S. Circuit Court of Appeals upheld Reg BI; XYPN was one of the plaintiffs in the suit. “We’re not fans of tilting against windmills,” said Michael Kitces, XYPN co-founder, during the group’s virtual annual conference. “We want to actually fight things we think we’ve got a shot at winning — and that’s not pursuing this to the Supreme Court.”
Read the full article on InvestmentNews.