Over the past couple of weeks, the Regulation Best Interest (Reg BI) Task Force has pulled together members of the accounts, compliance, compensation and marketing departments to work towards developing a solution to the challenges proposed by SEC’s Regulation Best Interest. These efforts have included the identification of conflicts of interest at both the firm and rep level as well as discussions of required disclosure, Form CRS and policy and procedure updates.
We’ve made great strides and plan to be fully Reg BI compliant well before the June 2020 implementation date, but more resources will be put towards the following areas as we approach our “Go Live” date. As we begin the New Year, our focus turns to updating account and disclosure forms as well as spending ample time on training for both the Home Office staff and registered reps in the field.
With the amount of changes and ongoing discussions on how Reg BI will be integrated into our day to day business, the group has decided to move the “Go Live” date to the first quarter of 2020 to ensure a comprehensive and streamlined roll out.
Please be on the lookout as we release more information on upcoming changes over the coming months.
Contact Jerime for more information:
Compliance Team Manager