Regulatory Notice 19-26

Regulation Best Interest

SEC Adopts Best Interest Standards of Conduct

Summary

This Notice reminds members of the Securities and Exchange Commission’s (SEC’s) adoption of a best interest standard of conduct for broker-dealers and a relationship summary (Form CRS) delivery obligation, and provides an SEC email address where members may submit questions about the new requirements. As more fully described below, the SEC encourages firms to actively engage with SEC staff as early as possible as questions arise when planning for implementation. Firms may send their questions by email to [email protected]. FINRA also will assist members in their implementation of the best interest standard in various ways.

Questions concerning this Notice may be directed to:

  • James S. Wrona, Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8270;
  • Meredith Cordisco, Associate General Counsel, OGC, at (202) 728-8018;
  • Joseph P. Savage, Vice President and Counsel, Office of Regulatory Analysis, at (240) 386-4534; or
  • Angela C. Goelzer, Vice President and Counsel, Office of Regulatory Analysis, at (202) 728-8120.