Reg BI Client Complaints Double in 2023: Financial Advisor reports that customer Financial Industry Regulatory Authority arbitration claims against registered representative and brokerage firms rose 12% in 2023, while alleged Regulation Best Interest and breach of fiduciary duty violations doubled on the self-

regulatory organization’s list of controversies, according to FINRA.

Non-Traded REIT Fundraising Went Negative in 2023: The DI Wire reports that for all of 2023, non-traded net asset value real estate investment trusts reported nearly $10.2 billion of fundraising, $1.9 billion of dividend reinvestment, and $18.3 billion of redemptions, resulting in negative net fundraising of approximately $6.2

billion. In 2022, NAV REITs raised a net total of nearly $23.2 billion.

SEC Climate Rule Faces New Challenges: Pensions & Investments reports that the Securities and Exchange Commission’s new climate disclosure rule faces continuing hurdles in court, as some challengers are not backing down in their fight

to overturn the rule.

DOL Finalizes ERISA Transaction Waiver Changes: Law 360 reports that the Department of Labor on Tuesday unveiled a final regulation changing how investment managers can access retirement funds regulated by the Employee Retirement Income Security Act, finalizing a proposal that was widely criticized by

the financial industry after it was released in July 2022.

SEC Public Engagement Criticized: ThinkAdvisor reports that SEC Commissioner Hester Peirce staunchly criticized the agency’s “dwindling” engagement with the public April 2, contending that the commission’s rule-making process, along with

other factors, stifles public discussion.

Reg BI a 2025 SEC Exam Priority: ThinkAdvisor reports that the SEC will continue in 2025 to prioritize compliance with Reg BI in exams — with likely areas of focus to be on complex or illiquid products, according to Rina Hussain, associate director of

the SEC’s broker-dealer exam program.

Violation Self-Reporting Can Reduce SEC Fines: The Wall Street Journal reports that a financial firm’s decision to disclose record-keeping rule violations directly to the SEC can potentially reduce the fine it receives by a significant amount, says a

senior enforcement official.

Debt Path Unsustainable, Analysts Say: Bloomberg reports that the CBO is warning that U.S. federal debt is on track to hit 116% of GDP by 2034, up from 97% last year and higher even than it was in World War II. In 88% of the simulations ran by Bloomberg, the debt-to-GDP ratio is on an unsustainable path, but delivering a plan that will reduce deficits will take significant action from a divided

Congress.