How will Regulation Best Interest Shape Industry Practices?

In February 2020, Salem Center for Policy hosted a Conference on Regulation Best Interest (Reg BI). The event brought together current and former government officials, industry experts, and academic researchers to engage in a series of dialogues on how the new regulation will impact securities brokers and registered investment advisors.

Speakers from the SEC, FINRA, SIFMA, CFP Board, leading law firms and universities, and the financial services industry discussed the underlying market issues that led to the new rules, how the measures are intended to impact investor relationships with brokers and investment advisers, and the likely compliance challenges. Participants also gained insight on how the new rules might shape their business environment, including the impact on the use of technology, the potential effect on investor behaviors, and litigation risk.

How will Reg BI shape industry practices?
A discussion of how the financial services industry will need to adapt to sweeping new rules governing the giving of investment advice.

Introduction to the Conference:
Scott Bauguess, Director of Program on Financial Markets Regulation, UT McCombs

Introduction to the new Wealth Management program at McCombs:
Ramesh Rao, Director, McCombs Wealth Management Program

Moderator — Jim Burns, Partner, Willkie Farr & Gallagher
- Dan Kahl, Deputy Director, Office of Compliance Inspections and Examinations, SEC
- Ira Hammerman, General Counsel, SIFMA
- Leo Rydzewski, General Counsel, CFP Board
Tom Selman, EVP Regulatory Policy (retired), FINRA