The US regulator has identified several violations of Regulation Best Interest (Reg BI) about registered index-linked annuity (Rila) sales practice in its oversight report.
The Financial Industry Regulatory Authority (Finra) has pointed to failures by broker-dealers to comply with obligation under Reg BI when they recommend Rila products in its 2026 Finra Annual Regulatory Oversight Report released on 9 December. There’s a lack of policies and procedures ‘reasonably designed’ to achieve the compliance obligation There’s a lack of policies and procedures ‘reasonably designed’ to achieve the compliance obligation, states the re