Regulation & Compliance

Best-Interest Standard

Definition

What is Best-Interest Standard?

A duty to place the client's interests ahead of the provider's when making a recommendation.

Example in practice

The adviser recommends a lower-cost product despite earning less.

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A legal or ethical duty to act loyally and carefully in another person's best interest.

The requirement or process of determining whether an investment fits a client's circumstances and objectives.

Selling a financial product through misleading statements, unsuitable advice, or inadequate disclosure.

Nigeria's principal securities exchange, where listed shares, bonds, ETFs, and other instruments trade.

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