{"id":7892,"date":"2020-07-23T08:15:37","date_gmt":"2020-07-23T13:15:37","guid":{"rendered":"https:\/\/www.figmarketing.com\/blog\/?p=7892"},"modified":"2023-09-06T20:05:37","modified_gmt":"2023-09-07T01:05:37","slug":"finra-reg-bi-checklist-20-compliance-requirements-infographic","status":"publish","type":"post","link":"https:\/\/www.figmarketing.com\/blog\/finra-reg-bi-checklist-20-compliance-requirements-infographic\/","title":{"rendered":"FINRA Reg BI Checklist: 20 Compliance Requirements [Infographic]"},"content":{"rendered":"\n<p>The FINRA Reg BI checklist is&#8230;encompassing to say the least.<\/p>\n\n\n\n<p>Taken effect on June 30, 2020, the new <strong><a href=\"https:\/\/www.finra.org\/rules-guidance\/key-topics\/regulation-best-interest\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">FINRA Reg BI standard<\/a><\/strong> &#8211; along with <strong><a href=\"https:\/\/www.sec.gov\/rules\/final\/2019\/34-86032-appendix-b.pdf\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">Form CRS<\/a><\/strong> &#8211; outline what broker-dealers (BDs) and their registered representatives need to account for in order to comply with the new &#8220;best interest&#8221; standard of conduct.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>These regulations aim to establish a level playing field among industry professionals, including requirements like:<\/p>\n\n\n\n<ul><li>Procedures and policies to suit the best interest standard<\/li><li>Full and fair disclosures written prior or during recommendations<\/li><li>Updates to company systems to ensure record-keeping obligations<\/li><li>Proper training to understand Reg BI requirements<\/li><\/ul>\n\n\n\n<p>&#8230;and many more.<\/p>\n\n\n\n<p>Check out the infographic below to see where you stand with Reg BI&#8217;s compliance requirements. It includes 20 key compliance requirements for Reg BI that you&#8217;ll want to know. As with all <strong><a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/www.figmarketing.com\/blog\/tag\/compliance\/\" target=\"_blank\" rel=\"noreferrer noopener\">compliance topics<\/a><\/strong>, be sure to carefully review all the rules and get answers to any questions you may have about the new FINRA Reg BI standards.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FINRA Reg BI Checklist<\/h2>\n\n\n\n<h4 class=\"wp-block-heading\"><a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist-non-branded.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Click here<\/a> to download the infographic to check off your progress.<\/h4>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1165\" height=\"2560\" src=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-scaled.jpg\" alt=\"FINRA Reg BI Checklist infographic\" class=\"wp-image-7898\" srcset=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-scaled.jpg 1165w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-137x300.jpg 137w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-466x1024.jpg 466w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-768x1688.jpg 768w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-699x1536.jpg 699w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-932x2048.jpg 932w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-1170x2571.jpg 1170w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2020\/07\/FINRA-Reg-BI-Checklist_FIG-585x1286.jpg 585w\" sizes=\"(max-width: 1165px) 100vw, 1165px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Keep Reading: <a href=\"https:\/\/www.figmarketing.com\/blog\/compliance-corner-cyber-security\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">Compliance Corner: Cybersecurity<\/a><\/h4>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.figmarketing.com\/#!\/Landing\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" width=\"150\" height=\"152\" src=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2021\/02\/FIG-Logo-Red-Triangle.png\" alt=\"financial independence group logo\" class=\"wp-image-8736\"\/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The FINRA Reg BI checklist is&#8230;encompassing to say the least. Taken effect on June 30, 2020, the new FINRA Reg BI standard &#8211; along with Form CRS &#8211; outline what broker-dealers (BDs)&hellip;<\/p>\n","protected":false},"author":57,"featured_media":7889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[364],"tags":[259,375,434,365],"acf":[],"_links":{"self":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/7892"}],"collection":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/comments?post=7892"}],"version-history":[{"count":16,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/7892\/revisions"}],"predecessor-version":[{"id":12974,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/7892\/revisions\/12974"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/media\/7889"}],"wp:attachment":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/media?parent=7892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/categories?post=7892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/tags?post=7892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}