SEC Staff to Host October 26 Roundtable on Regulation Best Interest and Form CRS

The Securities and Exchange Commission today announced October 26 as the date for its roundtable at which Commission staff and the Financial Industry Regulatory Authority (FINRA) will discuss initial observations on Regulation Best Interest and Form CRS implementation. Regulation Best Interest and Form CRS were adopted by the Commission on June 5, 2019 as part of a package of rules and interpretations designed to address the obligations of broker-dealers and investment advisers when they provide recommendations or investment advice to retail investors. Regulation Best Interest enhanced the broker-dealer standard of conduct beyond existing suitability obligations and requires broker-dealers, among other things, to act in the best interest of a retail customer when making a recommendation of any securities transaction or investment strategy involving securities.