According to a report by Politico Pro, SEC Commissioner Hester Pierce indicated that the SEC is “very likely” to publish additional guidance on how to comply with Regulation Best Interest, possibly in the form of FAQs. The SEC may also produce a chart with a side-by-side comparison of broker-dealer and investment adviser obligations.
George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.