SEC Adopts Rule 15l-1 to Require Broker-Dealers to Act in Best Interest of Retail Customers
Categories: Capital Markets
On June 5, 2019, the SEC adopted Regulation Best Interest (“Reg. BI”), which not only required the disclosure of interest, but also imposed a standard of conduct on broker-dealers (“BDs”) when making a recommendation to a retail customer of any securities transaction or investment strategy.
