• CCG

SEC warns of tougher Reg BI exams in 2021.


The Securities and Exchange Commission warned brokerages Monday to expect tougher examinations for compliance with the new broker investment advice standard. 2020 Reg BI went into force on June 30, during the height of COVID-19 disruptions.

The SEC Division of Examinations stated "Division staff intends to expand the scope of examinations in 2021 that focus on specific requirements of the regulation, including those that go beyond suitability standards and require broker-dealers to have a reasonable basis to believe that recommendations are in retail customers’ best interests,” You can find the full statement here.

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