Regulation Best Interest (Reg BI)—which sets forth a new standard of conduct for broker-dealers and their associated persons when making investment recommendations—was adopted by the SEC on June 5, 2019, and is scheduled to take effect on June 30, 2020. There was some question as to whether the SEC would push back the effective date due to the COVID-19 pandemic, but on April 2, SEC Chairman Jay Clayton issued a public statement that the SEC will hold to the June 30 deadline despite the ongoing emergency.
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