Despite a legal challenge and other controversies, implementation for the SEC’s long-awaited Regulation Best Interest is here, and the agency is set to begin examinations and enforcement.
The Department of Labor said the proposed rule would align with the SEC's Regulation Best Interest, while consumer advocates call it as a wishlist for the brokerage industry.
While the justices sided with the Trump administration in the separation of powers clash, it stopped short of abolishing the agency altogether.
In light of the federal appeals court decision to uphold Reg BI, XYPN says it may take its case to the Supreme Court. Fiduciary advocates also expect more states to take action.
Ten steps to help advisors adjust their focus and move forward positively.
The study found that the appetite for human financial advice extends far beyond the high-net-worth population.