SEC Adopts Rule 15l-1 to Require Broker-Dealers to Act in Best Interest of Retail Customers

June 12, 2019
by Paul A. Merolla, James Dombach

On June 5, 2019, the SEC adopted Regulation Best Interest (“Reg. BI”), which not only required the disclosure of interest, but also imposed a standard of conduct on broker-dealers (“BDs”) when making a recommendation to a retail customer of any securities transaction or investment strategy. Read our Client Alert https://www.mmlawus.com/newsitem/pdf/SEC_Adopts_Rule_15l-1_-8947649653849290607.pdf.