The SEC rulemaking package designed to enhance retail investors' protections when dealing with broker-dealers and investment advisers was published in the Federal Register.
The rulemaking package consists of (i) Regulation Best Interest (effective September 10, 2019), (ii) the Form CRS Relationship Summary (effective September 10, 2019), (iii) an interpretation of investment advisers' fiduciary duty (effective July 12, 2019), and (iv) an interpretation of the "solely incidental" prong of the broker-dealer exclusion under the Advisers Act (effective July 12, 2019).
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