RegBIDEN: What’s next for Reg BI in the new administration
With Biden taking office in January, many advisors are wondering what the future of Regulation Best Interest looks like. There’s certainly been plenty of speculation on the subject, so let’s take a look at what could change during the transition.
The SEC Reg-BI Guidance For Small Businesses
Two things have become more worrying during my Reg-BI research. First, the CRS Form is not cheap to build. Each advisor may well spend an average of 23.77 hours and over $6,000 to build the form.But, the second, more worrying realization is that small firms are not as prepared as larger firms. As a Deloitte survey study found, small financial services businesses lag behind larger firms in their efforts to become compliant with Regulation best-interest.
5 Components To The Form CRS Examinations
What is the OCIE expecting by June 30th? 5 Compliance Components in the Form CRS Examinations There’s a lot more to learn about the CRS Form Form CRS may be...Read More
Form CRS is the biggest Reg-BI compliance hurdle for RIAs
Reg-BI brings Broker-Dealers into a Fiduciary Standard. Registered Investment Advisors will be challenged to prove they are already putting their clients’ interests first and have processes that ensure ongoing compliance. Form CRS is a crucial hurdle in showing due diligence.