Mar. 31, 2023
March 31, 2023 I agree that individual investors should benefit from a requirement that broker-dealers document their best execution practices. In support of the proposed rule change, an independent periodic review is necessary to ensure broker-dealers develop, maintain, and execute on their best practices. Given there are hundreds of thousands of broker-dealers (source: FINRA.org), this number would appear to be too large to examine compliance on a regular basis. Following the introduction of the new requirement, consideration may be necessary to initially focus resources on broker-dealers with the largest order volumes.