Based on a study of 200 broker-dealers, NASAA found that firms are "still relying heavily" on suitability policies that predate Regulation Best Interest.
News & Insights
In a letter to the CFPB, the American Bankers Association warned that shifting the liability for fraudulent payments on peer-to-peer instant payment systems to institutions will likely have negative consequences.
SIFMA recommended that Congress craft legislation on regulating digital assets that (i) prioritizes investor protections, (ii) applies a technology-neutral approach and (iii) follows the "same activity, same risk, same regulatory outcome" principle.
In response to a request for comment on FINRA Regulatory Notice 22-08, several industry organizations and a cohort of attorneys general submitted letters examining the merit of FINRA's proposal to further restrict retail investors' access to "complex products."
FIA requested that the CFTC codify no-action relief regarding the treatment of separately managed accounts held at futures commission merchants.