sec

Glossary terms related to sec.

• Reg BI (Regulation Best Interest)

  Regulation Best Interest (Reg BI) is an SEC rule requiring broker-dealers to act in the best interest of retail customers when making investment recommendations. Effective June 30, 2020.

• Form ADV

  Form ADV is the SEC's registration form for investment advisers. Part 1 contains business and disciplinary information; Part 2 (the brochure) must be delivered to clients and describes the adviser's services, fees, and conflicts of interest.

• Books and Records (Investment Adviser)

  The books and records rules require registered investment advisers and broker-dealers to maintain specific records for defined retention periods. SEC Rule 204-2 governs RIAs; Rule 17a-4 governs broker-dealers.