Regulation BI

Regulation Best Interest (Rule 15l-1 under the Exchange Act) requires that broker-dealers and their associated persons who are natural persons, when making a recommendation of any securities transaction or investment strategy involving securities (including account recommendations) to a retail customer, act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker, dealer or natural person who is an associated person of a broker or dealer making the recommendation ahead of the interest of the retail customer.