Tag: reasonably available alternatives

Reg BI’s Care Obligation Under Scrutiny by SEC

On March 3, 2021, the US Securities and Exchange Commission (SEC) Division of Examinations announced its examination priorities including a greater focus on Regulation Best Interest (Reg BI). Reports from October 2021 suggest the SEC is making good on its promise by sending a large number of broker-dealers Reg BI exam deficiency letters. Reg BI […]

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Webinar: Reg BI Exams – Reasonably Available Alternatives and Record Keeping

With Reg BI examinations and enforcement actions expected to increase in 2021, firms are looking to meet the Care Obligation’s requirement of assessing “reasonably available alternatives”.  In this on-demand webinar, our panel of experts will take a deeper dive into a consistent and repeatable process for assessing costs and a reasonable range of alternatives at […]

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Webinar: Reg BI Exams – The Care Obligation

With a new SEC Chair sworn in and regulators conducting Regulation BI exams that go beyond ‘good-faith’ efforts, firms will be looking to adjust their practices to meet the principles of Reg BI and close any outstanding gaps related to the Care Obligation. Watch our On-Demand Webinar to hear industry leaders from Oyster Consulting and […]

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Reg BI: A Dialogue with Tom Selman, Scopus Financial Group

Recently, InvestorCOM had the pleasure of speaking with Tom Selman, Founder of Scopus Financial Group and former Executive Vice President of FINRA’s Regulatory Policy Division.  In this dialogue, Tom discusses the emergence of Reg BI, what we’ve learned to date, and what firms should focus on.   ***   Parham Nasseri (PN): Tom you’re a […]

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The Reg BI Journey: What’s Coming in 2021

With more than six months since the Regulation Best Interest (Reg BI) compliance deadline, a heightened sense of anticipation is brewing around what wealth firms should expect in 2021. In retrospect, the Reg BI journey thus far has been riddled with uncertainty around what steps broker-dealers (B-Ds) needed to take to ensure compliance. During this […]

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How to Recommend Variable Annuities with Confidence

Reg BI’s Care Obligation requires a financial professional to consider reasonably available investment alternatives (RAA) offered by the broker-dealer (refer to “Reg BI’s Care Obligation and Reasonable Alternatives” for more information on this topic). While some may have implemented an RAA process for assessing mutual fund and ETF recommendations, Variable Annuities (VAs) may present yet […]

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The Hold Up on Hold Recommendations

For many wealth management firms, the last few months have gone by in a flash. The combined pressures of working remotely, executing business continuity practices and meeting the Reg BI implementation deadline have kept most teams burning the midnight oil. With the Reg BI implementation deadline now behind us, some may be hesitantly looking back […]

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Reg BI’s Care Obligation and Reasonable Alternatives

With Reg BI now in effect, broker-dealers and their representatives will need to illustrate how they are complying with the SEC’s Regulation Best Interest (Reg BI). One of the requirements dealers should pay close attention to is the Care Obligation and the consideration of Reasonably Available Alternatives (or RAA) when making a recommendation. What’s Changed? […]

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