November 03, 2021

Jim Lundy Speaks with WealthManagement.com About the Impact of the New Director of Division of Enforcement at SEC

WealthManagement.com shared that the new director of the Enforcement Division at the Securities and Exchange Commission (SEC), Gurbir S. Grewal, hopes regulators and registrants alike will convince investors that the deck is not stacked in favor of the powerful and that the markets work equally for all, according to early statements. SEC and regulatory enforcement defense partner Jim Lundy discussed the impact the new director will have on the enforcement landscape with the publication.

Enforcers will likely interpret the Trump-era Regulation Best Interest (Reg BI) rules with a wider lens, noted Lundy.

“I also think the new director and his team are going to take time to really get an understanding of what the Reg BI prospective matters are in the pipeline,” Lundy said. “What are the one, two or several that they’re going to start with and prioritize, because that’s going to be a big message for the brokerage industry.”

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