Brokerages need to update tech systems to show Reg BI work to SEC
An SEC risk alert this week warned firms that surveillance systems fell short in ensuring reps consider costs and reasonably available alternatives. Will enforcement be next?
Brokerages need to upgrade their technology to better show their work on meeting Regulation Best Interest obligations, but it remains unclear when the SEC will put teeth into the rule, compliance experts and investor advocates say.
Earlier this week, the Securities and Exchange Commission release
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