SEC Expected to Approve Reg BI in ‘‘the Next Few Months’’ but Final Outcome Remains Uncertain

The Securities and Exchange Commission has one main goal of setting best interest standards across financial organizations. The SEC is expected to roll out its standards-of-conduct regulation, commonly known as Regulation Best Interest (Reg BI), in the next few months, but there is still some uncertainty over the outcome of the proposal — even from within the Commission.

In this article, Protiviti Managing Director Douglas Wilbert outlines Reg BI and what it means for financial institutions with fiduciary responsibilities.