SRP Feature (Part 3): Broader retail customers

Richard Jory, 01 August 2018

The approach that the US Securities and Exchange Commission (SEC) has taken to the definition of retail investors differs from that taken under current Financial Regulatory Authority (Finra) suitability obligations, which provide an exemption to broker-dealers from the customer-specific suitability obligation with respect to "institutional accounts," including very high net worth natural persons, if certain conditions are met.

The full story is only available to registered users and subscribers.

Sign Up now for access to our news and data.

Sign Up