Displaying 26 results
Fiduciary advocates raise alarm about SEC limits on term ‘fiduciary’
In a set of frequently asked questions about Form CRS, the SEC cautions investment advisers about saying that they're held to a fiduciary standard.
SEC fines 12 firms total of $292,523 in Form CRS enforcement actions
It's the agency's second round of Form CRS compliance cases. The SEC is encouraging firms to self-report delinquencies.
SEC says drop jargon, clarify fees on Form CRS
The agency's Standard of Conduct Implementation Committee found content and format problems after reviewing a cross section of filings.
To some industry ears, ‘best interest’ may sound like fightin’ words
We’re still waiting for the first major Reg BI penalty to hit. When it does, it could spark controversy.
SEC enforcement director stresses ‘proactive compliance’ on Reg BI
The rule goes 'significantly beyond' suitability, and firms should give their reps the tools they need to 'identify, disclose and mitigate conflicts prohibited under Reg BI,' Gurbir Grewal said.
Fiduciary advocates call on SEC to fix Form CRS
A new study by the Institute for the Fiduciary Standard asserts the document blurs the line between advisers and brokers.
SEC fines 27 firms in first-ever Form CRS actions
The agency charged 21 investment advisers and six brokerages with missing delivery or posting deadlines. The customer relationship summary outlines fees, services and potential conflicts of interest and is supposed to help clients understand business practices.
Fiduciary backers seek ‘highest legal standard’ in Form CRS disclosures
The Institute for the Fiduciary Standard on Tuesday proposed a redesigned customer relationship disclosure, known as Form CRS, that provides a side-by-side comparison of advisers and brokers.
Investor advocate urges Gensler to beef up Reg BI
Republican lawmakers in the House tell the new SEC chairman to avoid ‘mission creep’ in the agency's oversight of environmental, social and governance disclosures.
Fiduciary advocates urge SEC to rename Reg BI, eliminate broker conflicts
In addition changing Reg BI's nomenclature, the Institute for the Fiduciary Standard called for eliminating some broker conflicts of interest, such as compensation incentives for product sales, revising the disclosure Form CRS and clarifying that investment advisers must avoid conflicts of interest rather than just disclosing them.
SEC member Crenshaw says agency should provide guidance on Reg BI
Democratic commissioner says the SEC should define ‘best interest,’ clarify conflict mitigation related to Reg BI
SIFMA wants new SEC to give Reg BI time to work
The major financial industry group said the current agency has vowed for tough enforcement of the rule
Maxine Waters urges Biden administration to overturn Reg BI
The Chair of the House Financial Services Committee also targeted rules surrounding opening up private markets
Brokers generally ‘meeting their obligations’ on Reg BI: Clayton
Advisory firms should provide more details to reps on how to comply with the new rules, said SEC staff members
Reg BI promotes same standard of care across advice models: SEC’s Clayton
'I think it’s going pretty well,' he said about the first four months since implementation
SEC warns firms not to omit disciplinary history from Form CRS
Top agency officials say staff members are finding compliance shortcomings in the disclosure document
SEC warns Form CRS falls short but doesn’t prescribe fixes
Compliance experts advise making potential conflicts clear, avoiding small print
SEC cites deficiencies in Form CRS filings
Initial reviews show disclosures could be ‘clearer or otherwise improved’
Oklahoma pulls back Form CRS mandate for state-registered advisers
Rhode Island keeps its requirement on the books
Finra officials delineate ‘good faith’ efforts to comply with Reg BI
Initial reviews will focus on whether firms have put in place policies, procedures and training
- 1
- 2
