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  • Writer's pictureRita Rhodes

SEC Standards of Conduct Guidance

Updated: Dec 31, 2023

The SEC staff has published a lengthy “FAQ”-styled Bulletin “[r]eiterating the standards of conduct for broker-dealers and investment advisers in addressing their care obligations when they are providing investment advice and recommendations to retail investors.” This is the fourth interpretive guidance issued by the SEC staff since the agency adopted the standards of conduct rulemaking package in 2019 that included the Fiduciary Duty Interpretation for advisers (including the duty of care) and Regulation Best Interest for broker-dealers (Reg BI). Prior staff guidance addressed:

 

 

There's a lot to digest in the links above, but they are worth a read if you have some spare time.


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