In its 2023 Annual Report, the SEC Office of the Investor Advocate detailed its Fiscal Year 2023 efforts on investor outreach, responding to investor inquiries, and engaging in substantive research on (i) registered index-linked annuities and (ii) mandatory arbitration clauses in investment advisory agreements.
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A broker-dealer settled charges with the SEC for failing to ensure that the firm's representatives were providing suitable recommendations.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
Based on a study of 200 broker-dealers, NASAA found that firms are "still relying heavily" on suitability policies that predate Regulation Best Interest.
The Massachusetts Supreme Judicial Court held that the Secretary of State could reasonably adopt a new rule that holds broker-dealers to a fiduciary standard when making recommendations to customers.