SIFMA President and CEO Kenneth E. Bentsen, Jr. discusses the U.S. Securities and Exchange Commission’s proposed Regulation Best Interest (Reg BI) with David Westin on “Bloomberg Daybreak: Americas.”

“On the whole, we think this is a very good proposal,” said Bentsen. SIFMA recently submitted comments to the SEC, noting the industry’s support and outlining suggestions to ensure it most efficiently accomplishes its stated goal of protecting investors. “This has been a long time coming. What this ends up with is a materially higher standard for brokers… We really need to finish this discussion.” (Source: BloombergTV)

See also: SIFMA Submits Comments to the SEC on Regulation Best Interest – August 7, 2018