Posts in Daniel Viola
SEC to Vote June 5th on Regulation Best Interest

The U.S. Securities and Exchange Commission ("SEC") scheduled a June 5th vote on its Regulation Best Interest rulemaking package.  SEC will consider whether to adopt a new rule to establish a "best interest" standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation to a retail customer of any securities transaction or investment strategy involving securities.  The existing requirement is that broker-dealers recommend "suitable" investments for clients, falling short of a fiduciary standard.

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