Under Regulation Best Interest (Reg BI), broker-dealers are required to act in the best interest of retail customers at the time of a recommendation. Which factor MOST distinguishes Reg BI from a full fiduciary standard?
-
A
Reg BI applies to all investment recommendations, while fiduciary applies only to retirement accounts
-
B
Reg BI requires best interest at point of sale but does not impose an ongoing monitoring obligation
-
C
Reg BI is stricter than fiduciary because it requires written documentation of every recommendation
-
D
Reg BI eliminates all conflicts of interest, while fiduciary only requires disclosure of conflicts