NASAA 2021 Reg BI Phase Two Report Findings: Compliance is not as Strong as NASAA Hoped

The North American Securities Administrators Association (NASAA) released its 2021 Reg BI Phase One report last week. The findings ultimately conclude that Reg BI is not as effective as NASAA had intended, as the percentage of broker-dealers not in compliance with these regulations has increased. For instance, the number of broker-dealers offering more complicated and risky services has increased by approximately 11 percent. Due to the lack of compliance with Reg BI, the SEC is being pressured to step in to further enforce these rules.

If you are a broker-dealer with any concerns regarding Reg BI compliance regulations, contact the attorneys at Warren Law Group. Call (866) WLGROUP, or email infor@warren.law to schedule your complimentary consultation.

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Warren Law Group

WLG provides legal representation to financial services professionals and business owners in regulatory and compliance matters, litigation, and securities.