Regulation Best Interest: Assessing the Market Impact of the New Rules

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.

Assessing the market impact of the new rules:
Remarks by SEC Chief Economist SP Kothari followed by a discussion with former Chief Economist Chester Spatt on how the economics of giving advice has changed.

Moderator — Scott Bauguess, McCombs School of Business
- SP Kothari, Chief Economist, SEC
- Chester Spatt, Professor, Carnegie Mellon University, and former SEC Chief Economist