{"id":6394,"date":"2020-04-09T12:04:13","date_gmt":"2020-04-09T17:04:13","guid":{"rendered":"https:\/\/rixtrema.com\/blog\/?p=6394"},"modified":"2020-05-08T10:42:00","modified_gmt":"2020-05-08T15:42:00","slug":"reg-bi-isnt-delayed-because-of-covid-19","status":"publish","type":"post","link":"https:\/\/rixtrema.com\/blog\/reg-bi-isnt-delayed-because-of-covid-19\/","title":{"rendered":"Reg-BI Isn’t Delayed Because Of COVID-19"},"content":{"rendered":"\n

The markets are tumbling and 10 million people filed for unemployment in the last two weeks. But, don’t think for a second that the SEC is rolling back the June 30th Regulation Best Interest compliance deadline. <\/span><\/p>\n

The <\/span>SEC confirmed this week<\/span><\/a> that it will not extend the deadline for Reg-BI and the Customer Relationship Summary Form. <\/span><\/p>\n\n\n\n

Good-faith efforts are the key to compliance<\/strong><\/h2>\n\n\n\n

The SEC is looking for good-faith efforts to reach compliance. The Commission seems to understand that many advisory businesses are constrained for resources and time during the pandemic. <\/span><\/p>\n

So, you should be able to make a case for your firm if you are devoting at least some resources to compliance in addition to meeting government health and safety standards. The SEC Chairman also advised struggling firms to contact them if they are having any trouble managing COVID-19 and Reg-BI Compliance.  <\/span><\/p>\n

The SEC also has a number of other resources to help firms understand the new requirements and working toward implementation:<\/span><\/p>\n