The New York State Supreme Court held that the New York Department of Financial Services had the authority to enact a "best interest" standard for sellers of annuities and life insurance.
Regulation Best Interest significantly expands the obligations that broker-dealers owe to retail investors. To assist in navigating these new requirements, the Cabinet produced four new Retail Best Interest Topic Pages.
The North American Securities Administrators Association reported that through its Operation Cryptosweep Initiative, regulators opened over one hundred new investigations since the beginning of this year.
Regulation Best Interest significantly expands the obligations that broker-dealers owe to retail investors. To assist in navigating these new requirements, the Cabinet produced four new Retail Best Interest Topic Pages.
SIFMA argued that the Massachusetts Securities Division should allow SEC Regulation Best Interest to be fully implemented before considering a state-specific fiduciary rule.
SIFMA urged the New Jersey Bureau of Securities to wait for Regulation Best Interest to be fully implemented before enacting a proposal that would impose state-specific fiduciary duties on broker-dealers.
A broker-dealer settled FINRA charges for violating reporting, disclosure, distribution and supervisory requirements in connection with various public offerings.
The SEC rulemaking package designed to enhance retail investors' protections when dealing with broker-dealers and investment advisers was published in the Federal Register.
