Get Your Firm
Reg BI Ready
by June 30, 2020

The compliance deadline is fast approaching:


Disclosure. Care. Conflict of Interest. Compliance.

Regulation Best Interest establishes a “best interest” standard for brokers and advisors when making investment recommendations to their clients.

By June 30, 2020, investment dealers and brokers must meet these key obligations:

Disclosure Obligation

At the time of a recommendation to an investor, broker-dealers must provide full and fair disclosure of all material facts relating to the scope and terms of the relationship and any conflicts of interest related to the recommendation.

Care Obligation

Brokers must act with diligence, care and skill to understand the risks, rewards and costs associated with the recommendation(s) and have a reasonable basis to believe the recommendation(s) are made in the best interest of the retail customer.

Conflict of Interest Obligation

Establish and enforce policies designed to mitigate conflicts of interest that create an incentive for an associated party of the broker-dealer to place its interest or the interest of the firm ahead of the retail customer’s interest.

Compliance Obligation

Ensure adequate compliance and supervisory policies and procedures are in place. This obligation includes record-keeping requirements–all relevant documentation must be maintained for six years after the date an account is closed or the date on which the information was replaced or updated, whichever comes first.


Achieve Reg BI Compliance with Confidence.

Leverage InvestorCOM’s Reg BI compliance platform and solutions to adapt to the new rule environment:

InvestorCOM Solutions

ShelfMonitor

ShelfMonitorTM

Monitor your shelf of investment products with alerts on product changes – including MER, Risk, Performance, Fund Manager

PeerCompare

PeerCompareTM

Review reasonable product alternatives on your shelf and generate disclosure documents for digital delivery

ComplianceExpress

ComplianceExpressTM

Deliver all compliance and client documents – including Form CRS – digitally and securely

Reg BI Impact Framework1

ShelfMonitor

PeerCompare

ComplianceExpress

Advice Model

Processes to provide “best Interest” advice, evidenced by rigorous analysis, disclosure and record-keeping, supported by appropriate training

ShelfMonitor

PeerCompare

ComplianceExpress

Product Shelf

Mitigation of product related conflicts of interest, supported by documented processes to systematically analyze and monitor a set of “best interest” product solutions and providers

Compensation

Compensation arrangements for the broker‐dealer which are “reasonable” and incentive structures which have been revised to conform with Reg BI requirements

ComplianceExpress

Compliance and Controls

  • Comprehensive disclosures and controls to comply with Reg BI
  • Policies and training to embed a “best interest” culture
  • Supervision and compliance infrastructure to monitor and correct behaviors

1. Oliver Wyman Impact Framework

The compliance deadline is fast approaching:

Get Reg BI Ready!

Download the white paper to learn more:

Strategies and Solutions to Meet the New Reg BI Compliance Requirements

Schedule your complimentary 30-minute phone consultation and demo with one of our experts.

ShelfMonitor keeps us audit ready and efficiently helps us stay on top of changes to the ever-changing investment product landscape.

Why InvestorCOM?

Highly intuitive, simple solution.

Rapid Implementation.  Our “drop-in” cloud solutions require minimal IT effort.

Meet compliance for 3 key categories:

  • Disclosure and recordkeeping
  • Advisor and process oversight
  • Investment product selection and monitoring

 

 

 

 


Reg BI Webinars

Reg BI and the Future of Compliant Recommendations

Guest Speakers: Matthew Radgowski, Head of Advisor Solutions at Morningstar and Peter Tepley, Partner at RumbergerKirk

Meet Remote Compliance Challenges during COVID-19 and Beyond

Guest Speakers: Tom Selman, Founder of Scopus Financial Group and Ben Westin, CCO at Regal Financial Group

Reg BI: What Does “Good Faith” Compliance Mean?

Guest Speaker: Tito Pombra, Founder at Adviser Compliance Consulting Inc.

Get Started!

Email RegBIReady@InvestorCOM.com or call 1.800.361.9494 to learn more.

 

 


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