SEC Proposes New Rule for Broker-Dealers

On Wednesday, April 18, the SEC proposed a best-interest standard for broker-dealers. Under this proposed standard, broker-dealers and associated persons would be required to adhere to the best interest of the client and to develop policies and procedures to mitigate and disclose conflicts of interest. It would also prohibit BDs and associated persons from holding themselves out as advisors unless properly licensed. The public will have 90 days to comment.

Here at CreativeOne, we are analyzing the implications of this proposal to you and your practice, and will be releasing more information in the coming days.

Stay tuned!

For the latest information on how this ruling will impact you and your business, contact your sales consultant or visit CreativeOne’s DOL Resource Center.

 

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