The new rule makes it easier for brokers to mislead customers into thinking they are getting advice that is in their best interest when recommendations are being made based on conflicts of interest.
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Editorial Slams Regulation Best Interest
- Saturday, Jun 15 2019
- Regulatory & Compliance
- Written by PFA News
Regulation Best Interest, or BI, is throwing 401(k) investors under the bus and, contrary to its name, doesn’t require non-fiduciaries to use the best interest standard when serving clients. So argues a column in MarketWatch.