Sandra Grannum Addresses SEC Guidance on Regulation Best Interest With Bloomberg Law

In “‘Need to Act’: Brokers Prep for SEC Action on Best Interest Rule,” Bloomberg Law turned to business litigation partner Sandra Grannum for insight on the Securities and Exchange Commission’s (SEC) risk alert on Regulation Best Interest (Reg BI), highlighting Reg BI-related deficiencies from its examinations.

“It’s time to get your house in order,” Grannum said. “I do think that enforcement will be around the corner.” She added, “It feels to me the brokerage firms are making an earnest effort to get on board and to clean up anything that might look unacceptable to the SEC. It might just be a scramble to see who’s left standing when the music stops.”

The full article is available for Bloomberg Law subscribers.