Totum - Reg BI Duty of Care

How Assessing Risk Capacity With Totum Helps Satisfy the Duty of Care Requirements of Reg BI

One of the key components of the Regulation Best Interest adopted by the SEC on June 30, 2020, is the Care Obligation. In referring to this obligation, the SEC states that when making a recommendation, a broker-dealer “must exercise reasonable diligence, care, and skill when making a recommendation to a retail customer….” This stipulation is broken down …

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