Which of the following are characteristics of SEC Regulation Best Interest?

I. Regulation Best Interest is the response of the SEC to the Dodd$-$Frank Act tasking the SEC with determining if there should be a "harmonized" fiduciary standard for investment advisers and broker$-$dealers.

II$.$ As shown by Regulation Best Interest, the SEC intends the industry to move to an advice$-$based standard exclusively over the next $10$ years when dealing with retirement accounts.

III. Regulation Best Interest includes a detailed definition of "best interest" in the context of a retirement account.

IV$.$ Regulation Best Interest is an extension of the existing suitability standard.