The US regulator found that the advisor's structured note recommendations violated Reg BI’s compliance obligation
The US Securities and Exchange Commission (SEC) has announced charges against registered broker-dealer First Horizon Advisors for 'failing to maintain and enforce policies and procedures reasonably designed to achieve compliance with Regulation Best Interest (Reg BI)'. The main thrust of these cases is that the SEC remains fully on the beat to address allegations of miss-selling complex products - Christopher Schell, Davis Polk & Wardwell The charges relate to First Horizon’s recom
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