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Keyword: Best interest standard

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New conduct standards top SRO's compliance agenda

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FINRA has developed resources to help firms comply with the SEC's new conduct rules

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The new broker conduct rule waters down the protections in the Dodd-Frank Act, the states say

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The reforms also feature new relationship disclosure requirements for both registered investment advisors and broker-dealers

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The group also called for fintech regulation

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How will firms be able to address conflicts of interest in four common scenarios?

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David Gary Durno implemented an active trading strategy for two senior clients that “generated large commissions for himself and his firm but reduced client profits”

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The new requirement would introduce “specific obligations” that would expand financial planners’ obligation to prioritize their clients’ interests

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The group argues that the proposed rule, as it stands, is too weak in certain respects and too ambiguous in others

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Investor Advisory Panel calls on regulators to adopt a “best interest” standard as soon as possible