What obligations does this Reg BI skill cover?

This skill covers all four component obligations: Disclosure (providing material facts), Care (exercising diligence and skill), Conflict of Interest (mitigating or eliminating incentives), and Compliance (maintaining written policies).

Can this skill identify what triggers a 'recommendation'?

Yes, it applies the SEC's 'facts and circumstances' test to determine if a communication, including account type and rollover suggestions, triggers the Reg BI standard.

Does it provide guidance on rollover recommendations?

Yes, it specifically analyzes recommendations to move assets from employer-sponsored plans like 401(k)s to IRAs, focusing on the documentation of costs, services, and alternatives.

How does this differ from the FINRA suitability standard?

The skill provides a detailed comparison, highlighting that Reg BI is an enhanced 'best interest' standard that requires the consideration of alternatives and the mitigation of specific conflicts that suitability does not.

SEC Reg BI Compliance Specialist

Name: SEC Reg BI Compliance Specialist
Author: JoelLewis

byJoelLewis

•

学习与文档

Analyzes broker-dealer recommendations to ensure compliance with the four component obligations of SEC Regulation Best Interest.

The SEC Reg BI Compliance skill provides domain-specific guidance for navigating the complex regulatory requirements of 17 CFR 240.15l-1. It helps users evaluate whether communications constitute a 'recommendation,' analyzes adherence to Disclosure, Care, Conflict of Interest, and Compliance obligations, and provides specific patterns for high-scrutiny areas like rollovers and account type selections. By comparing Reg BI against FINRA suitability and investment adviser fiduciary duties, the skill assists in drafting written supervisory procedures, preparing for SEC examinations, and documenting the reasonable basis for investment recommendations to retail customers.

主要功能

01Compares Reg BI standards with FINRA suitability and IA fiduciary duty frameworks

02Assists in identifying and documenting 'reasonably available alternatives' for care obligation compliance

03Analyzes recommendations against Disclosure, Care, Conflict of Interest, and Compliance obligations

04Distinguishes between broker-dealer recommendations and general investment education

0518 GitHub stars

06Evaluates rollover recommendations from employer-sponsored plans to IRAs for compliance

使用场景

01Auditing broker-dealer recommendations to ensure they prioritize retail customer interests over firm incentives

02Drafting and reviewing written supervisory procedures (WSPs) for Reg BI and Form CRS delivery

03Preparing documentation and analysis for SEC regulatory examinations and compliance reviews

What are Skills?·How to Install

Install with 🐟 Skill.Fish

npx skillfish add joellewis/finance_skills reg-bi

For use in Claude.ai and ChatGPT

Download Skill