The Good, Bad and Ugly of SEC’s Reg BI and Advice-Standards Package
June 17, 2019 by Melanie Waddell
While folks are busy sizing up the “good, bad and ugly” of Reg BI, advisors registered with the SEC need to focus on the new Form CRS requirements, advises GJ King, president of RIA in a Box, calling the new form “the first new significant regulatory filing requirement to impact RIA firms in a decade.”
King wants RIAs to grasp that the new form will require them to create “a new disclosure document, which will become the firm’s primary facing prospect and client disclosure document.”
King says Form CRS is a “step in the right direction” but “is less prescriptive than originally proposed and thus may require RIA firms to devote more significant time and resources to ensure they craft the proper plain English language specific to their firm.”
Click HERE to read the full story via ThinkAdvisor.
