In June last year, the SEC adopted its so-called “Regulation Best Interest,” proclaiming that it would protect investors from the rampant conflicts of interest among broker-dealer advisers that cost everyday American investors tens of billions of dollars a year in lost savings. On Friday, January 3, 2020, Better Markets and the Consumer Federation of America joined together and filed a “friend of the court” brief. Better Markets followed-up the brief today with a fact sheet that summarizes the grounds on which the court should invalidate the rule.
January 6, 2020
Fact Sheet on Amicus Brief Filed By Better Markets and the Consumer Federation of America in Support of Legal Challenge to the SEC’s Regulation “Best Interest”