Gary Cohen Authors Article in The Investment Lawyer on SEC’s Best Interest Rule

Financial Services Regulatory   |   Securities Transactions and Compliance   |   Securities & Investment Companies   |   November 1, 2019
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Carlton Fields federal securities law attorney Gary Cohen authored an article in The Investment Lawyer titled, “SEC Update,” reviewing the Securities and Exchange Commission’s (SEC) recent enactment of a regulation best interest rule.

Though the new requirement did call for broker-dealers to think through and determine the concept of best interest on their own, critics felt that the rule did not do enough to define best interest.

Cohen comments that though the SEC may have stopped short of truly designating a definition of best interest at this time, the organization has argued that it does have the authority to confirm broker-dealer compliance with best interest, and may indeed measure the adequacy and accuracy of a broker-dealer’s policies and procedures against a specific standard in the future.

Read the article.

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