SEC Files First Enforcement Action Alleging Violations of Best Interest Rule’s Care and Compliance Standards

In the first action of its kind, the Securities and Exchange Commission (“SEC”) recently charged registered broker-dealer Western International Securities, Inc. (“Western”) and five of its associated persons (the “APs”) with violations of Regulation Best Interest, Rule 15l-1(a) under the Securities Exchange Act of 1934 (“Reg BI”). Continue

Ropes & Gray attorneys regularly provide insightful perspective on key legal issues.To read more, visit our Alerts archive.

SEC Files First Enforcement Action Alleging Violations of Best Interest Rule’s Care and Compliance Standards

In the first action of its kind, the Securities and Exchange Commission (“SEC”) recently charged registered broker-dealer Western International Securities, Inc. (“Western”) and five of its associated persons (the “APs”) with violations of Regulation Best Interest, Rule 15l-1(a) under the Securities Exchange Act of 1934 (“Reg BI”). Continue

Ropes & Gray attorneys regularly provide insightful perspective on key legal issues.To read more, visit our Alerts archive.

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