Regulation Best Interest (Reg BI) establishes a standard of conduct for broker-dealers when making recommendations to retail customers. Prsperite provides comprehensive tools to help your firm meet every requirement.
SEC Regulation Best Interest requires broker-dealers to satisfy four component obligations. Prsperite is designed to help your firm demonstrate compliance with each one.
Provide full and fair disclosure of material facts
Broker-dealers must provide retail customers with full and fair disclosure of all material facts relating to the scope and terms of the relationship, including:
Exercise reasonable diligence, care, and skill
Broker-dealers must exercise reasonable diligence, care, and skill to:
Establish policies to identify and address conflicts
Broker-dealers must establish, maintain, and enforce written policies and procedures reasonably designed to:
Establish policies to achieve compliance
Broker-dealers must establish, maintain, and enforce written policies and procedures reasonably designed to achieve compliance with Reg BI as a whole.
Form CRS (Customer Relationship Summary) is a key disclosure document required by Reg BI. Prsperite provides comprehensive tools for creating, managing, and delivering Form CRS to your retail customers.
Create and version-control your Form CRS templates with customizable sections
Track delivery timing and method for each client with acknowledgment capture
Automatic alerts for required disclosure events like account opening and material changes
Complete history of all Form CRS versions, deliveries, and updates
Get started with Prsperite today and ensure your firm meets all SEC Regulation Best Interest requirements.