SEC Wants to Resolve Conflicts Between Reg BI and State Fiduciary Rules
April 2, 2019 by Rita Raagas De Ramos
The SEC is working with states that have fiduciary rule initiatives to avoid conflicts with the final version of the SEC’s Regulation Best Interest, according to Brett Redfearn, director of the regulator’s Division of Trading and Markets.
“We’re taking in a lot of inputs from the states. We’re communicating with them as much as possible. We’re looking for the best possible way of resolving this so there aren’t those sorts of conflicts,” Redfearn said Tuesday during a regulatory panel discussion at the SifmaCompliance and Legal Seminar in Phoenix, Ariz.
Redfearn didn’t elaborate on the content and progress of those communications.
When asked about the progress of the SEC’s proposed Reg BI and whether the regulator remains open to feedback and comments from others, Redfearn replied: “Hopefully, we’re wrapping up.”
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