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Suitability and Best Interest Policy (Reg BI)

Generate Reg BI Compliance Policies in Minutes

15 minutes with CaseMark

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Suitability and Best Interest Policy (Reg BI)

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Workflow

Suitability and Best Interest Policy (Reg BI)

Overview

Drafting comprehensive Suitability and Regulation Best Interest policies requires deep regulatory knowledge, careful attention to FINRA Rule 2111 and SEC requirements, and hours of manual document preparation. Compliance officers must balance multiple obligations—reasonable-basis suitability, customer-specific analysis, quantitative suitability, and the four core Reg BI obligations—while ensuring every provision meets current regulatory standards.

Broker-dealers face complex, overlapping obligations under Regulation Best Interest and FINRA Rule 2111, requiring comprehensive policies that address disclosure, care, conflict management, and suitability standards. Manually drafting these policies requires extensive regulatory research, legal expertise, and 20+ hours of attorney time, costing firms $8,000-$15,000 while risking gaps in coverage that could lead to regulatory deficiencies.

CaseMark generates complete, board-ready Suitability and Best Interest policies tailored to your firm's business model, products, and compensation structures. Upload your existing compliance materials and receive a comprehensive policy document covering all Reg BI obligations, FINRA suitability requirements, Form CRS integration, and enforcement procedures—ready for immediate implementation.

How it works

  1. 1. Upload your documents

  2. 2. AI analyzes and extracts key information

  3. 3. Review and customize the generated content

  4. 4. Export in your preferred format (DOCX, PDF)

What you get

  • Policy Statement

  • Suitability Obligations (Reasonable-Basis, Customer-Specific, Quantitative)

  • Regulation Best Interest Framework

  • Best Interest Obligation

  • Core Obligations (Disclosure, Care, Conflict of Interest, Compliance)

  • Form CRS Requirements

What it handles

  • Policy Statement

  • Suitability Obligations (Reasonable-Basis, Customer-Specific, Quantitative)

  • Regulation Best Interest Framework

  • Best Interest Obligation

  • Core Obligations (Disclosure, Care, Conflict of Interest, Compliance)

  • Form CRS Requirements

Supporting documents

  • Existing Compliance Manual

    Current firm compliance policies and procedures to incorporate existing standards

    PDF, DOCX

  • Product Approval List

    Approved securities and investment products offered by the firm

    PDF, XLSX, DOCX

  • Compensation Structure Documentation

    Associated person compensation arrangements and incentive structures

    PDF, XLSX, DOCX

  • Organizational Chart

    Firm structure showing supervisory hierarchy and compliance roles

    PDF, DOCX, XLSX

  • Form CRS

    Current Customer Relationship Summary for integration with policy

    PDF

Why teams use it

Generate complete Reg BI and FINRA 2111 suitability policies in under 10 minutes

Ensure compliance with all four core Reg BI obligations: Disclosure, Care, Conflict of Interest, and Compliance

Automatically structure policies covering reasonable-basis, customer-specific, and quantitative suitability

Include Form CRS requirements and best interest obligation frameworks

Reduce compliance documentation time by 98% while maintaining regulatory accuracy

Questions

What's the difference between FINRA suitability and Regulation Best Interest?

FINRA Rule 2111 requires that recommendations be suitable based on customer information, while Regulation Best Interest imposes a higher standard requiring broker-dealers to act in the retail customer's best interest. Reg BI includes four specific obligations—disclosure, care, conflict of interest, and compliance—that go beyond traditional suitability by requiring consideration of reasonably available alternatives, enhanced conflict management, and comprehensive disclosures. This policy addresses both frameworks to ensure complete compliance.

Do I need to upload documents or can CaseMark generate a policy from scratch?

CaseMark can generate a comprehensive Reg BI policy without any uploads, providing a complete framework based on current regulatory requirements. However, uploading optional documents like your existing compliance manual, product lists, or compensation structures allows CaseMark to customize the policy to your firm's specific business model, making it immediately implementable rather than requiring extensive post-generation editing.

How does this policy address Form CRS requirements?

The generated policy includes a dedicated section on Form CRS integration, covering delivery requirements, required content, formatting specifications, and amendment procedures. It explains how Form CRS provides high-level relationship disclosures while the Reg BI Disclosure Obligation requires more detailed, recommendation-specific information. The policy ensures your firm understands both the summary disclosures in Form CRS and the comprehensive disclosures required for each recommendation.

Will this policy satisfy FINRA and SEC examination requirements?

Yes, the policy is designed to demonstrate compliance during regulatory examinations by addressing all required elements of Reg BI and FINRA Rule 2111, including written policies and procedures, supervisory systems, training requirements, and documentation standards. It includes specific procedures for reasonable-basis determinations, customer-specific suitability analysis, conflict identification and mitigation, and recordkeeping—all areas examiners routinely review. The policy provides the written framework examiners expect to see as evidence of a reasonably designed compliance program.

How often should this policy be updated?

The generated policy includes provisions for periodic review and updating, typically annually or when material changes occur to your business model, product offerings, compensation structures, or regulatory requirements. You should review the policy whenever SEC or FINRA issues new guidance on Reg BI or suitability, when examination findings reveal gaps, or when your firm introduces new products or services. CaseMark can regenerate updated versions as regulations evolve or your firm's practices change.

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