What the New ‘Best Interest’ Rule to Protect Investors Will Do

Last week, the Securities and Exchange Commission (SEC) adopted a rule to protect investors from bad brokers. The “Regulation Best Interest” (or BI) is the SEC’s answer to the Obama administration’s planned “fiduciary rule,” which the Trump administration killed. And SEC Chairman Jay Clayton said Best Interest would “substantially enhance the broker-dealer standard of conduct beyond existing suitability obligations.” But will the Best Interest rule really be in the best interest of investors?

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