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Brokers try to figure out what ‘good faith efforts’ mean for Reg BI implementation

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SEC has released risk alerts outlining examination expectations for Reg BI, Form CRS

Now that financial firms know that the deadline for implementing the Securities and Exchange Commission’s higher investment-advice standard for brokers remains June 30, they have to figure out what “good faith efforts” in implementation entail.

Last week, SEC Chairman Jay Clayton announced

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