SEC regulatory lawyers will want to note the recent filing of the 2022 Investor Advocate Report. The Investor Advocate is an advisory arm of the SEC looking out for the interests of retail investors, but it doesn’t engage in SEC rulemaking. A few things in the Report jump out. First, a statement that suggests the Investor Advocate wants to see more before weighing in on the effectiveness of Regulation Best Interest. Also, the Report includes a table of certain potentially problematic products, practices and trends broken down by regulator: These include performance claims and social media (SEC); Finfuencers and Reassigned Advisory Accounts (NASAA) and Financial Literacy Declines (FINRA). Here is a link to the full report: FY22 OIAD SAR Activities Report (sec.gov)