Tag Archives: Regulation Best Interest

Regulation BI Webinar Announced

Aspect Advisors and Cole-Frieman & Mallon Both Participating

The below is a press release announcing the Regulation Best Interest webinar next week. All are welcome to join.

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Aspect Advisors Presents Regulation Best Interest Webinar

Reg BI Compliance Implementation for Broker-Dealers and Investment Advisers

SAN FRANCISCO (PRWEB) MAY 21, 2020

Aspect Advisors, a regulatory compliance consulting firm, will be presenting best practices for broker-dealers and investment advisers subject to the new Regulation Best Interest (“Reg BI”) requirements ahead of the June 30 deadline for compliance. The presentation will be made through a live webinar, open to all who register, on May 28th at 1:00pm Eastern time and will feature expert speakers on the new regulation.

Reg BI establishes a new “best interest” standard of conduct for broker-dealers when making recommendations to retail customers regarding any securities transaction or investment strategy involving securities and includes four specified components to the obligations: disclosure, care, conflict of interest, and compliance. The regulation also requires broker-dealers and investment advisers to provide a brief relationship summary (Form CRS) to retail investors.

The May 28 webinar will be a “beyond-the-basics” deep dive discussion into how investment management firms can implement Reg BI requirements. Topics will include: the SEC’s OCIE guidance regarding regulatory expectations, common questions from both a compliance and legal perspective, practical strategies for implementation of requirements, and a question and answer period with participants.

“We have seen the government and regulators pull back on the implementation of various regulations during the COIVD-19 crisis,” said Justin Schleifer, president of Aspect Advisors and panelist. He continued, “however, it appears that Reg BI will not be subject to delay and so investment management firms need to be prepared for the June 30 deadline with real world solutions.”

The panelists will include James Dombach and Paul Merolla from the law firm Murphy & McGonigle and Justin Schleifer from Aspect Advisors. Host of the panel Bart Mallon, from the law firm Cole-Frieman & Mallon, stated “the goal of this panel is to provide broker-dealers and investment advisers with practical advice on this important new regulation.” He went on to state that “implementation in normal times would be involved so this webinar is both timely and important.”

Representatives from financial firms can sign up for the webinar here:
https://webinar.ringcentral.com/webinar/register/WN_FOEYC_mhQV68d2sIx6rIDg

About Aspect Advisors:
Aspect Advisors is a regulatory compliance consulting firm that provides customized compliance solutions for complex challenges. Our clients are financial service innovators, including fintech companies, registered investment advisers (RIAs), broker-dealers and private fund managers. Our back-office services include regulatory registrations and filings, compliance policies and procedures, conducting annual reviews, outsourced Chief Compliance Officer/FinOP support, and other bespoke items.

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Bart Mallon is a founding partner of Cole-Frieman & Mallon LLP. Cole-Frieman & Mallon is a boutique law firm focused on providing institutional quality legal services to the investment management industry. For more information on this topic, please contact Mr. Mallon directly at 415-868-5345.