SEC Issues Proposed Rules for Best Interest Standard
On Wednesday, April 18, the US Securities and Exchange Commission, by a 4-1 vote, approved issuance of proposed rules to address standards associated with sales of securities products to retail investors.
The SEC action came in the form of three proposed rules: (1) a proposed Regulation concerning Best Interest Standards; (2) Required Disclosures in Retail Communications and Restrictions on the use of certain Names or Titles; and (3) a Proposed Commission Interpretation regarding Standards of Conduct for Investment Advisers.
Copies of the proposed rules are set forth below through the following links:
Please bear in mind that these proposals, in some instances, exceed 400 pages.
CEFLI will continue to monitor developments associated with the SEC’s efforts to develop a best interest standard applicable to sales of securities products to retail investors.
Please also be advised that CEFLI will be conducting a Summit Meeting to explore The Future of Sales Standards in the Life Insurance Industry in Chicago on May 1. A review of the SEC proposals will be part of that discussion.
We hope you may be able to join us!
