Gary Gensler, chairman of the Securities and Exchange Commission, said Thursday that the agency is not planning further changes to Regulation Best Interest.
When asked by ThinkAdvisor if the agency would be making any changes to Reg BI, Gensler told reporters during the Investment Adviser Association's compliance conference, held in Washington, that the SEC has "been examining for and enforcing against" Reg BI, but the agency does "not have it on our agenda."
Gensler added: "At this juncture, what we're doing is examining against [the rule], and in some cases bringing enforcement actions, but it's not part of our regulatory agenda to update" Reg BI.
In follow-up remarks on Reg BI, Gensler stated that while the agency does not plan to update Reg BI, "we proposed something about conflicts and the use of covered technology, data analytics, in this regard," referring to the agency's predictive data analytics rule.
