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ASA Commends Second Circuit for Upholding Reg BI

It’s time for the states to listen to the court, to refrain from pursing politically-motivated activist agendas, and to embrace the SEC’s national Best Interest standard.



WASHINGTON – The American Securities Association (ASA) today praised the U.S. Court of Appeals for the Second Circuit for ruling to uphold the Securities and Exchange Commission’s (SEC) Regulation Best Interest in its decision in XY Planning Network, LLC v. SEC.


“ASA commends the Second Circuit Court of Appeals for upholding the SEC’s Regulation Best Interest,” said ASA CEO Chris Iacovella. “Broker-dealers have been working around the clock for months to comply with this new national standard, which enhances protection, trust, and confidence for every American investor. It’s time for the states to listen to the court, to refrain from pursuing politically-motivated activist agendas, and to embrace the SEC’s national Best Interest standard.”



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