What is reasonable due diligence for broker dealers?

Thursday, May 29th, 2014 and is filed under

What constitutes reasonable due diligence? It may come as no surprise that a clear definition is not provided. We can safely assume complex products require more due diligence. Complex products, such as non-traded REITsand BDCs, can evolve from quarter to quarter. Keeping advisors up-to-date on an offering’s management, assets, and performance is essential to staying compliant under the suitability rule.

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