Under Regulation Best Interest (Reg BI), how does the standard for broker-dealers differ from the traditional FINRA suitability standard?
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A
Reg BI requires only that recommendations be suitable, not necessarily in the customer's best interest
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B
Reg BI imposes a 'best interest' standard that is higher than mere suitability
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C
Reg BI applies only to institutional investors, not retail customers
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D
Reg BI eliminates the need for customer profile information