RK&O Client Alert: Game Time for SEC Regulation Best Interest

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June 30, 2020

On Friday, June 26, 2020, the Court of Appeals for the Second Circuit upheld the Securities and Exchange Commission’s (SEC) Regulation Best Interest (“Reg BI”), removing the last obstacle before the June 30th deadline for broker-dealers and their associated persons to comply with their new advice standard. Now that firms must comply with Reg BI, the “best interest” standard will move from theoretical concept to applied reality—and the scope and practical meaning of this new standard finally will be tested.

In this client alert, RK&O partners Margaret Meyers and Dan Zinman discuss the SEC’s Regulation Best Interest and the new standard with which broker-dealers and their associated persons now must comply.

Click here to read the client alert.