FOR IMMEDIATE LAUNCH 2018-68
Washington D.C., 18, 2018 april вЂ”
The Securities and Exchange Commission today voted to propose a package of rulemakings and interpretations made to improve the quality and transparency of investors relationships that are investment advisers and broker-dealers while preserving usage of a variety of forms of advice relationships and investment items.
Under proposed Regulation interest that is best, a broker-dealer is needed to work when you look at the most useful interest of a retail client when creating a recommendation of any securities deal or investment strategy involving securities to a retail client. Regulation interest that is best is made to inform you that a broker-dealer may well not place its economic passions prior to the interests of a retail client in creating recommendations.
Besides the proposed enhancements into the standard of conduct for broker-dealers in Regulation interest that is best, the Commission proposed an interpretation to reaffirm and, in many cases, simplify the CommissionвЂ™s views of this fiduciary responsibility that investment advisers owe for their customers.