daniel scott furst

Author Archives: daniel scott furst

Scott Furst is a member of the Firm's Business Litigation & Arbitration and Broker-Dealer Regulation Groups. He has extensive civil litigation experience with a specialization in securities, business, and complex commercial litigation in state and federal courts, before the Securities and Exchange Commission, Financial Industry Regulatory Authority, American Arbitration Association, and JAMS.

“Regulation Best Interest” Is Nearly Here. What Regulators Want to See. What Broker-Dealers Need to Know and Do.

On June 5, 2019, the United States Securities and Exchange Commission (“Commission”) adopted Rule 15l-1 (“Regulation Best Interest” or “Reg. BI”) under the Securities Exchange Act of 1934 (“Exchange Act”), which has a compliance date of June 30, 2020.[1] What broker-dealers and their compliance and supervisory personnel need to know and do to prepare for July 1, 2020 is priority number one.  This second article in this series examining Reg. BI provides tips and tools for, in particular, independent broker-dealers to consider what needs to be done by July 1, 2020 and the balance of the year.

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