Compliance Newsflash for February 27, 2020 – SEC to Hold National Compliance Outreach Seminar for Investment Companies and Investment Advisers

The SEC announced the opening of registration for its compliance outreach program’s national seminar for investment companies and investment advisers. The event is intended to help Chief Compliance Officers (CCOs) and other senior personnel at investment companies and investment advisory firms enhance their compliance programs for the protection of investors.

Compliance Newsflash for February 27, 2020 – SEC Publishes Frequently Asked Questions on Regulation Best Interest

On June 5, 2019, the SEC adopted Regulation Best Interest (“Regulation BI”) to improve investor protection by establishing a standard of conduct for broker-dealers making recommendations to retail customers. Firms must bring their operations into compliance by June 30, 2020. On January 10, 2020 and February 11, 2020, the SEC Staff published and then supplemented responses to a series of Frequently Asked Questions (“FAQs”) it has received regarding Regulation BI.