Update on SEC Reg BI and Fiduciary
Part of CFP Board’s Certificant Connections Podcast Series
For years, broad implementation of the fiduciary standard has been subject to rigorous debate in the financial services and regulatory community, which is why the SEC developed Regulation Best Interest (Reg BI). However, Reg BI has proved to be extremely controversial for industry players, regulators and politicians on both sides of the aisle.
Barb Roper, director of investor protection at the Consumer Federation of America, and CFP Board’s VP for Public Policy Maureen Thompson join this episode to talk about the long history of the fiduciary standard as well as Reg BI, its challenges and its implications for the financial planning profession.