Does Reg BI really hold brokers to a higher standard than investment advisers?
The question is how much mitigation and elimination of conflicts — versus disclosure — will really happen at firms and be required by the SEC.
Reg BI rolled-out with bravado and fanfare on June 5. The SEC chairman spearheaded a two-hour presentation on two rules and two interpretations aimed at bringing "the legal requirements and mandated disclosures in line with reasonable investor expectations."
In an open meeting, the chairman outline
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