Recently, you may have heard that financial industry regulators established a new set of rules designed to guide investors who work with an investment professional. This new set of rules is called “Regulation Best Interest” rule, known colloquially as “Reg BI.” 1
This rule establishes a series of guidelines about how to meet investors’ best interests. It provides steps for financial professionals to follow in an effort to give investors a higher level of comfort when making decisions. It also outlines strategies that take investors’ overall financial situation into account when proposing solutions.
The SEC’s Regulation Best Interest (Reg BI) under the Securities Exchange Act of 1934 establishes a “best interest” standard of conduct for broker-dealers and associated persons when they make a recommendation to a retail customer of any securities transaction or investment strategy involving securities, including recommendations of types of accounts.
As part of the rulemaking package, the SEC also adopted new rules and forms to require broker-dealers and investment advisers to provide a brief relationship summary, Form CRS, to retail investors. In addition, the SEC published interpretations concerning investment advisers’ standard of conduct under the Investment Advisers Act of 1940, and the “solely incidental” prong of the broker-dealer exclusion from the Advisers Act.
For many investors, such procedures were already in place, and the new rules may not affect our day-to-day practices in ways that you may immediately notice. A conversation with your dedicated financial professional at Epic Capital about “Reg BI” and how it might affect your investment strategy might be in order; they can answer any questions you may have about this regulation.
The news keeps getting better for Social Security recipients. It’s now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1,2
Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have considered. Here are some things you may want to keep in mind if … Continue reading “Coping with an Inheritance”
It’s long been an aspirational target for entrepreneurs. It literally goes beyond “blue sky,” in terms of location, to a place no business has gone before: Outer Space! The name of the game is commercial space travel.
With all the attention given to inflation, stock prices, and job reports, it’s been easy to overlook the remarkable move in the bond market during the past few months as bond yields have fallen. The yield on the 10-year treasury closed at 1.37% on Friday, July 9, down from its 2021 high of 1.74% in … Continue reading “The Quiet Fall in Bond Yields”
On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1 This rise in cost follows a year in which OPEC and allies cut production amidst the COVID-19 pandemic. … Continue reading “Oil Prices Hit Six-Year High”
Epic Capital provides the following comprehensive financial planning and investment management services: Learn More >