Financial Advisor IQ: Don’t Get Too Comfy … Big Surprises Could be in Store in SEC’s Reg BI, Compliance Specialist Warns

The SEC has told FA-IQ previously that it would not comment on the content of the proposed Reg BI while it is being finalized.

Meanwhile, the American Securities Association is urging the SEC to finalize its proposed rule “to help increase accountability across the financial industry and better protect America’s retail investors and retirement savers.”

In a statement, ASA says the proposed rule strengthens investor protection by requiring brokers to put their customers’ interests ahead of their own; disclose key facts, including fees and compensation related to financial products; exercise diligence, care and skill when making recommendations of investment products; and end high-pressure sales practices.

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