Compliance Professionals Emphasize the Significance of SEC Reg BI Bulletins in Examinations

Posted on May 30th, 2023 at 3:03 PM
Compliance Professionals Emphasize the Significance of SEC Reg BI Bulletins in Examinations

From the desk of Jim Eccleston at Eccleston Law 

Securities and Exchange Commission (SEC) top compliance officials recently announced that the Regulation Best Interest (Reg BI) bulletins will be used in future exams.

According to ThinkAdvisor, the bulletins have no formal legal effect. However, Evan Charkes, managing director and associate general counsel for Bank of America, shared that the bulletins still should be taken seriously.

Charkes added that the bulletins guide the SEC and the Financial Industry Regulatory Authority (FINRA) examiners. Peggy Ho, senior vice president and general counsel for Commonwealth Financial, told ThinkAdvisor described the bulletin as a valuable tool that should be examined in conjunction with Reg BI. She referred to the bulletin as a roadmap for what examiners will likely focus on during examinations.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory and disciplinary matters.

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