Compliance and Regulatory Alerts  |  10-26-20

This Week in Reg BI: SEC-FINRA Roundtable and Bates Compliance-Global Relay Webinar “REG BI - 120 Days On”

This Week in Reg BI: SEC-FINRA Roundtable and Bates Compliance-Global Relay Webinar “REG BI - 120 Days On”

Today, October 26, 2020, the SEC and FINRA staff will hold a remote public roundtable to discuss their observations on the implementation of Regulation Best Interest (“Reg BI”) and Customer Relationship Summary disclosure form (“Form CRS”) since mandatory compliance began on June 30, 2020.

Following the program, on Wednesday, October 28, 2020 at 2 pm Eastern/ 11 am Pacific, Bates Compliance will hold its own webinar with Global Relay to discuss “Reg BI - 120 Days On.”

The regulators’ long-anticipated discussion should provide clarity on Reg BI and compliance examinations generally, as well as on the sufficiency of recent Form CRS submissions with respect to the disclosure of disciplinary histories. The latter has been a source of significant public interest over the past few weeks after the SEC staff added explicit new interpretations on reporting disciplinary history in its Frequently Asked Questions on Form CRS. For more on criticisms leveled at both the Form and the industry, see this recent Wall Street Journal report.

In our upcoming webinar, Bates Compliance Managing Directors Hank Sanchez and Robert Lavigne, along with Donald McElligott (VP Compliance, Global Relay), will discuss, among other things, what they have observed since the implementation of Reg BI and Form CRS, common concerns raised by the SEC and FINRA, and ways Reg BI has impacted financial services technology and compliance.

Click here to register.


About Bates Compliance:

The Bates Compliance team helps firms implement Reg BI, Form CRS, and navigate compliance concerning investor and consumer protection standards. To learn more about Reg BI and Form CRS compliance consulting support for your firm, please visit our Reg BI service page.

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