August 8, 2018

Jim Lundy Quoted by Compliance Reporter on Reg BI

Chicago partner Jim Lundy was quoted in a Compliance Reporter article entitled “Reg BI Threatens Affiliate Fund Sales, Advisory Fees.”

Earlier this year, the SEC proposed three new rules that would alter the standards of conduct and disclosure for broker-dealers and investment advisers, including the Regulation Best Interest rule (Reg BI), which would require broker-dealers to act in the best interest of their clients. Jim commented on the confusion surrounding Reg BI, particularly the disclosure obligations, and noted that “[d]epending on materiality you have may have to mitigate – that concept doesn’t exist in the disclosure regime that has governed IAs for decades.”

Read “Reg BI Threatens Affiliate Fund Sales, Advisory Fees.”

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