It has been six months since Reg BI’s best interest standard went into effect. Initially, the regulators required that firms make “good faith” and reasonable efforts to ensure the principles of the regulation were in place. However, the SEC recently shifted gears. Starting January 2021, the SEC will move beyond good faith expectations and expand the scope of Reg BI examinations. Regulators will now focus on specific requirements of the regulation, including those that go beyond suitability standards and include complex investment products.
2021 Reg BI Exams & Variable Annuities
Join our Webinar to hear industry leaders Matt Radgowski, Head of Advisor Solutions at Morningstar and Issa Hanna, Counsel at Eversheds Sutherland provide an insightful dialogue on:
- What Broker-Dealers and their compliance teams should expect from the expanded scope of the Reg BI examinations.
- Why regulators are keen to see Broker-Dealers assess investment costs and reasonably available alternatives.
- Best practices for meeting the Care Obligation when recommending complex investment products such as Variable Annuities.