• Ec Proposes Form Crs Requirements for Retail Investors
  • June 21, 2018 | Authors: Yin T Ho; Segaal Schorr
  • Law Firms: Withers Bergman LLP - New York Office; Withers Bergman LLP - San Francisco Office
  • On April 18, 2018, the SEC proposed new rules requiring registered investment advisers and broker-dealers to provide retail investors with a client relationship summary on Form CRS. Form CRS is limited to four pages and is required to contain the following section: (1) introduction; (2) the relationships and services offered by the firm; (3) standards of conduct; (4) the fees and costs to be paid by retail investors; (5) comparisons of brokerage and investment advisory services; (6) conflicts of interest; (7) where to find additional information; and (8) key questions. The intent of Form CRS is to reduce confusion among retail investors by providing the required information prior to any investment advisory agreement.