---
title: "Review a sample of retail recommendations against Regulation Best Interest"
url: "https://ailawframework.com/practice/financial-services-regulation/review-a-sample-of-advice-files-against-the-best-interests-steps/united-states"
type: "task_jurisdiction_version"
site: "AI Law Framework"
id: "A28-T1-R4-US"
practice_area: "Financial Services Regulation (AFSL/ASIC/credit)"
tier: "yellow"
lawyer_review: "required"
jurisdictions: ["US"]
last_reviewed: "2026-10-22"
---

# Review a sample of retail recommendations against Regulation Best Interest

> For each recommendation the lawyer selects, extract the security or strategy, the retail customer's investment-profile fields on the file, any conflict noted, and the page cite.…

Canonical page: https://ailawframework.com/practice/financial-services-regulation/review-a-sample-of-advice-files-against-the-best-interests-steps/united-states  
Last reviewed: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

| Fact | Value |
| --- | --- |
| Practice area | [Financial Services Regulation (AFSL/ASIC/credit)](https://ailawframework.com/practice/financial-services-regulation.md) |
| Human involvement | Yellow: Lawyer and AI draft together |
| How AI is used | For each recommendation the lawyer selects, extract the security or strategy, the retail customer's investment-profile fields on the file, any conflict noted, and the page cite. Do not say whether the recommendation was in the customer's best interest. |
| What the lawyer must review | Regulation Best Interest, 17 C.F.R. § 240.15l-1, applies when a broker-dealer or an associated person recommends a securities transaction or investment strategy involving securities, including an account recommendation, to a retail customer. The care obligation includes a reasonable basis to believe the recommendation is in the best interest of that particular customer based on the investment profile and the risks, rewards and costs, and that it does not place the broker's interest ahead of the customer's. The profile in the rule includes age, other investments, financial situation and needs, tax status, investment objectives, experience, time horizon, liquidity needs and risk tolerance. You make that judgment. An investment adviser's duty is section 206 of the Advisers Act, not this rule. Do not mix the two. |
| Written for | United States |
| Applies to | [Review a sample of advice files against the best-interests steps](https://ailawframework.com/practice/financial-services-regulation/review-a-sample-of-advice-files-against-the-best-interests-steps.md) |

## Checking plan

- What the AI does: For each recommendation the lawyer selects, extract the security or strategy, the retail customer's investment-profile fields on the file, any conflict noted, and the page cite. Do not say whether the recommendation was in the customer's best interest.
- Basis: Checked against the linked sources on 22 October 2026. Confirm the current instrument before reliance.

## Notes

- The rule also has disclosure, conflict and compliance obligations. A file review of the care obligation does not close those.
- Do not apply an Australian best-interests duty or a Statement of Advice checklist.

## Sources

- [17 C.F.R. § 240.15l-1, Regulation Best Interest](https://www.law.cornell.edu/cfr/text/17/240.15l-1) (checked 2026-10-22)
- [15 U.S.C. § 80b-6, Investment Advisers Act section 206](https://www.law.cornell.edu/uscode/text/15/80b-6) (checked 2026-10-22)

## Forms and precedents for this task

| Form or precedent | Kind | AI level | Summary |
| --- | --- | --- | --- |
| [File review against the best-interests steps in section 961B](https://ailawframework.com/precedents/financial-services-regulation/best-interests-file-review.md) | Checklist | Yellow | Working paper for a sample advice file against section 961B of the Corporations Act 2001. Subsection (2) is a way of proving the duty. It is not marked off by anyone but the principal. |
| [Regulation Best Interest recommendation review checklist](https://ailawframework.com/precedents/financial-services-regulation/us-reg-bi-recommendation-checklist.md) | Checklist | Yellow | Review checklist for a recommendation by a broker-dealer to a retail customer, using the four obligations in Rule 15l-1. It does not decide that a recommendation was in the customer's best interest. |
| [Regulation Best Interest care and profile checklist](https://ailawframework.com/precedents/financial-services-regulation/us-reg-bi-care-checklist.md) | Checklist | Yellow | Question list for the care obligation, using the investment-profile factors the rule lists. It collects what the file shows.… |

Signed-in accounts can read the full text of each one.

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*