Tr?id=566623520170033&ev=PageView&noscript=1

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.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I just wanted to say thanks again for preparing and executing my case in such a professional manner. It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). I would personally recommend you and your firm to anyone.

John O.

LATEST NEWS AND ARTICLES

1782400213 Law
June 25, 2026
SEC Alleges Illinois Investment Adviser Misappropriated Investor Funds and Concealed Losses

According to a litigation release published on SEC.gov, the Securities and Exchange Commission (SEC) has charged John Sterling Myers and his firms, Sterling Capital, LLC and Sterling Capital Management, LLC, with orchestrating a multi-year fraud involving investor funds held in a pooled investment vehicle.

1782320106 Law
June 24, 2026
FINRA Suspends Former Broker Over Undisclosed Business Activities, Annuity Recommendation, and Customer Data Violations

The Financial Industry Regulatory Authority (FINRA) has suspended former registered representative Clayton K.

1782226532 Law
June 23, 2026
NASAA Advances Investment Adviser Advertising Reforms and Franchise Broker Registration Framework

The North American Securities Administrators Association (NASAA) has approved significant regulatory initiatives aimed at modernizing oversight of investment advisers and strengthening protections for individuals considering franchise investments.