<p><span>Form CRS is a brief relationship summary designed to help retail investors make informed choices regarding what type of relationship—brokerage, investment advisory, or a combination of both—best suits a retail investor’s particular circumstances and investment objectives. SEC-registered broker-dealers and investment advisers (each, a “firm”) offering services to retail investors must file with the Commission and provide to retail investors a relationship summary containing plain English disclosures on specific topics under standardized headings and in a prescribed order. The relationship summary is intended to promote transparency, comparability and better-informed decision-making, through clear, concise disclosures, and by summarizing in one place selected information about a particular firm. This format is designed to allow retail investors to more easily compare different firms’ services, fees, conflict
Statement On Recent And Upcoming Regulation Best Interest Examinations From The SEC Division Of Examinations, Division Of Examinations Staff Date
21/12/2020
[1]Regulation Best Interest established a new, substantially elevated standard of conduct under the Exchange Act for broker-dealers and associated persons of a broker-dealer (collectively “broker-dealers” or “firms”).[2] After Regulation Best Interest’s June 30, 2020 compliance date, the Division of Examinations (“Division”) (formerly the “Office of Compliance Inspections and Examinations”) launched examinations to assess the Regulation Best Interest implementation efforts of broker-dealers. Division staff has assessed the results of its initial Regulation Best Interest examinations and now that approximately six months have passed since the Regulation Best Interest compliance date, the Division intends to begin its next phase by conducting more focused examinations as outlined below beginning in Jan