Reg BI Supervisory Review of Client Recommendations Investment Adviser The Outside Business Activities (OBA)

The Outside Business Activities (OBA) Disclosure Statement serves as an important part of an investment adviser’s overall compliance program by meeting certain disclosure and reporting requirements under SEC Rule 206(4)-7 and Rule 204A-1 and/or similar state requirements

The Broker-Dealer Written Supervisory Procedures Section on Impartial Conduct Standards serves as an important part of a firm’s written supervisory procedures (WSPs) and overall compliance program in accordance with FINRA Rule 3110 & Department of Labor’s (DOL’s) adopted Prohibited Transaction Exemption 2020-02 (“PTE 2020- 02”)

Members also downloaded Investment Adviser Statement of Periodic Testing of BCP & Regulation S-P

as well as provide information on market holidays and events that may affect investment adviser business operations

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Reg BI Supervisory Review of Client Recommendations Investment Adviser The Outside Business Activities (OBA)Compliance with Regulation Best Interest (Reg. BI) continues to be a concern of regulators. The Reg. BI Supervisory Review of Client Recommendations form serves as a tool to document supervisory reviews related to Reg BI recommendations. The form documents if the representative exercised reasonable diligence, care, and skill when making the recommendation by guiding the reviewer through questions to evaluate the recommendation and review complex