Securities regulators give updates at SIFMA panel

By Lene Powell, J.D. Senior regulators from the SEC, FINRA, and OCC shared insights at a panel of the SIFMA C&L Annual Seminar 2019 about current priorities and challenges at their agencies, including Regulation Best Interest, digital assets and assets, fixed income initiatives, and market structure issues. The panel was moderated by Merri Jo Gillette, deputy general counsel at Edward D. Jones & Co., L.P., and included Brett Redfearn, director of the SEC Division of Trading and Markets; Bob Colby, chief legal officer at FINRA; Morris Morgan, senior deputy comptroller and chief operating officer at the Office of the Comptroller of the Currency; and Dick Walker, partner at King & Spalding. Regulation Best Interest. According to Redfearn, Reg BI is a “very high priority” for the SEC, with the agency having received 6,000 comment letters so far and more still coming in. The SEC has two goals for the rule: Enhance the quality of a broker-dealer’s…

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