FINRA’s Regulation Best Interest (Reg BI) conference held in Washington, DC on December 18, 2019 was a bit of a bust. It was a packed house, but short on information. The standard reply to audience questions was that FINRA staff had not received any guidance on implementation of the new regulation, leaving most of the attendees wondering why the conference was held in the first place.
Highlights from various regulators follow. Please note this compilation is a summary of regulatory actions and is not meant to be an all-inclusive substitute for individual research via the various regulatory sites.
FINRA
SEC Approves Amendments to Expand Published Data Relating to OTC Equity Trading Volume https://www.finra.org/rules-guidance/notices/19-29
SEC Approves Amendments Relating to Transactions in U.S. Treasury Securities Executed to Hedge a Primary Market Transaction
https://www.finra.org/rules-guidance/notices/19-30
FINRA Requests Comment on a Proposed Rule to Limit a Registered Person from Being Named a Customer’s Beneficiary or Holding a Position of Trust for or on Behalf of a Customer
https://www.finra.org/rules-guidance/notices/19-36
SEC
Order Determining Whistleblower Award ClaimCertain Investment Advisers Participating in the Share Class Selection Initiative
https://www.sec.gov/rules/other/2019/33-10713.pdf
SEC Approves Amendments to Underwriter’s Fair Dealing Obligations to Issuers Under Rule G-17
http://msrb.org/~/media/Files/Regulatory-Notices/Announcements/2019-20.ashx??n=1
