The Timeline highlights significant developments in the history of financial regulation against U.S. and world events. Choose a decade to start, scroll down to read more. Learn more about building the Timeline.
On implementation a year after approval in June 2019, Reg BI requires that broker dealers must act in the best interest of their clients. Going beyond formerly applied suitability standards, “Reg BI” sets new standards of conduct for broker dealers with four obligations regarding disclosure, care, conflict of interest, and compliance.
In a case with the potential to moderate the effects of the Kokesh decision, the Supreme Court finds that the SEC can seek disgorgement as an equitable remedy if it meets certain principles including: returning fines to investors, excluding joint and several penalties, and deducting legitimate expenses from the disgorgement.
