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SEC Regulation Best Interest and Form CRS

SEC Regulation Best Interest and Form CRS

SEC Regulation Best Interest (Reg BI) compliance is an expansive regulatory challenge that impacts the fundamental business structure of financial services organizations as it creates new regulatory and compliance risks. The development of core Reg BI compliance and supervisory components will help firms address the burden of compliance departments in the broker-dealer industry.

Reg BI went into effect June 30, 2020 and sets new conduct standards for broker-dealers. To ensure Reg BI compliance, broker-dealers must adhere to a package of rules and interpretive guidance directing them to act in the “best interest” of their clients. The package also includes new compliance requirements and guidance for both broker-dealers and investment advisers concerning the new obligations owed to retail investors.


How Bates Compliance Can Help

Bates Group’s Compliance team helps firms navigate and achieve compliance with Reg BI and Form CRS, including:

  • Disclosure obligations
  • Duty of care obligations
  • Conflicts of interest obligations
  • Additional compliance obligations

We can assist you with:

  • Developing and reviewing Reg BI Client Relationship Summary (“Form CRS”)
  • Conflicts of interest assessment
  • New product approval processes
  • Drafting new policies and procedures
  • Training for compliance and sales professionals on how to comply with Reg BI and Form CRS

As financial firms are starting to face the first round of enforcement actions from regulators under Regulation Best Interest (Reg BI), the “grace period” that followed the rule’s implementation date has come to an end.

Here's What The Regulators Are Focusing On Now:

Reg BI and Form CRS Webinars:

Read More:

To learn more about Reg BI and Form CRS compliance consulting support, including how your firm can improve its compliance, please contact us directly:

SEC Regulation Best Interest and Form CRS

Hank Sanchez

Managing Director, Bates Compliance


Discover the Difference

Our Bates Compliance team can guide you to compliance with SEC Regulation Best Interest and Form CRS.