Prepare your firm for Regulation Best Interest and Form CRS.
Time is running short for brokerage firms to finalize policies and procedures for Regulation Best Interest and Form CRS as the race to the June 30th compliance deadline nears. Investment advisers registered with the SEC also must have their version of Form CRS ready to go. Will you be ready when the SEC’s longstanding suitability standard converts into a new, best-interest standard? Join guest speaker Duane Thompson, Senior Policy Analyst with Fi360, a leading provider of fiduciary-focused software, data and analytics for financial advisors, as he addresses some of the key areas of interest to dual registrants and independent investment advisers. Some of the questions he will cover:
Which client accounts are subject to Reg BI?
How do you advise clients on rollovers when wearing two regulatory hats? What if you also advise the client’s 401(k) plan, too?
What are your compliance obligations as a fee-only, state-registered advisor? As a hybrid?
As the SEC notes in the final release, Reg BI’s best interest standard is a principles-based regimen, just like the fiduciary standard. There are no simple answers, but the takeaway is this: Learn how to strap on the new compliance seat belt with greater confidence. The finish line is getting closer. Enjoy a smooth ride while steering safely around compliance potholes.