by Dismal-Jellyfish
public-inspection.federalregister.gov/2022-27644.pdf
public-inspection.federalregister.gov/2022-27644.pdf
Whereas the Fee believes the present regulatory framework regarding the responsibility of greatest execution has helped broker-dealers fulfill their responsibility to their clients, the Fee believes this regulatory framework may be made simpler. Specifically, whereas FINRA and the MSRB have established greatest execution guidelines and supplied steerage on how broker-dealers ought to obtain greatest execution in a wide range of contexts, and customarily require broker-dealers to have procedures for compliance with related legal guidelines and guidelines, the Fee believes it’s acceptable to suggest its personal complete and detailed greatest execution necessities. The Fee understands that, at the moment, broker-dealers’ greatest execution insurance policies and procedures, and the documentation regarding their greatest execution practices, could range. Nevertheless, as described in part III.A under, the Fee believes that clients would profit from constantly strong greatest execution practices by broker-dealers, and the execution of retail buyer orders by broker-dealers which have sure order dealing with conflicts of curiosity warrants heightened consideration by these broker-dealers.2
That positive looks like the SEC calling out FINRA and MSRB within the politest most official method attainable–they aren’t strong sufficient!
