Regulation Best Interest (Reg BI)

{
  "id": "MLC-T-LAW-004192",
  "term": "Regulation Best Interest (Reg BI)",
  "field": "Law",
  "definition": "A rule adopted by the Securities and Exchange Commission (SEC) that requires broker-dealers to act in the best interest of their retail customers when making recommendations of any securities transaction or investment strategy. This regulation establishes a higher standard of conduct than the previous suitability standard, requiring firms to mitigate conflicts of interest. Reg BI became effective in June 2020.",
  "url": "https://mlchart.com/terminology/law/regulation-best-interest-reg-bi/"
}