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SEC Issues Risk Alert on Reg BI Deficiencies Identified During Exams

By John Ayanian & Cheryl Haas on February 2, 2023
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On Jan. 30, the U.S. Securities and Exchange Commission’s Division of Examinations released a Risk Alert identifying perceived weaknesses in broker-dealers’ compliance with the disclosure, care, conflicts of interest and compliance obligations of Regulation Best Interest.

Read on for highlights from the alert and how they reflect the SEC’s evolving expectations during examinations

Photo of John Ayanian John Ayanian

John is co-chair of the firm’s Securities Enforcement & Regulatory Counseling practice group and advises clients on broker-dealer and securities market regulatory matters. He counsels U.S. and foreign financial institutions and markets on all aspects of their U.S. securities trading, markets, and clearing

…

John is co-chair of the firm’s Securities Enforcement & Regulatory Counseling practice group and advises clients on broker-dealer and securities market regulatory matters. He counsels U.S. and foreign financial institutions and markets on all aspects of their U.S. securities trading, markets, and clearing activities. These include issues arising under U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) rules.

Read more about John AyanianEmail
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Photo of Cheryl Haas Cheryl Haas

Cheryl is go-to litigation counsel for Fortune 100 companies, investment companies and advisers, broker-dealers and private individuals in high-stakes disputes in federal and state courts and a variety of arbitration forum as well as before the U.S. Securities and Exchange Commission, the Financial…

Cheryl is go-to litigation counsel for Fortune 100 companies, investment companies and advisers, broker-dealers and private individuals in high-stakes disputes in federal and state courts and a variety of arbitration forum as well as before the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority and state securities regulators across the United States.

Read more about Cheryl HaasEmail
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  • Posted in:
    Banking, Finance and Securities
  • Blog:
    Subject to Inquiry
  • Organization:
    McGuireWoods LLP
  • Article: View Original Source

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