Home News SEC Investor Advisory Committee to Hold Public Call on Regulation Best Interest...

SEC Investor Advisory Committee to Hold Public Call on Regulation Best Interest and Form CRS

The Securities and Exchange Commission’s investor advisory committee will hold a public conference call next month to discuss its proposed Regulation Best Interest and Form CRS Relationship Summary.

The Securities and Exchange Commission’s investor advisory committee will hold a public conference call next month to discuss its proposed Regulation Best Interest and Form CRS Relationship Summary.

The telephonic meeting will be held on November 7th at 2:00 p.m. Eastern.

To participate, dial (800) 260-0702 in the United States or (651) 291-1170 outside the United States. The access code is 455778.

Under the SEC’s Regulation Best Interest proposal, a broker-dealer would be required to act in the best interest of a retail customer when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer, without putting the financial or other interest of the broker-dealer ahead of the customer.

Form CRS is a standardized, short-form (4-page maximum) disclosure document — a customer or client relationship summary – which addresses the nature of the investor/investment professional relationship. The document would highlight key differences in the principal types of services offered, the legal standards of conduct that apply to each, the fees a customer might pay, and certain conflicts of interest that may exist.

The public is invited to submit written statements to the committee, which should be received by November 7, 2018. A recording will be archived on the committee’s webpage for later listening.

The Investor Advisory Committee was established to advise the SEC on regulatory priorities, the regulation of securities products, trading strategies, fee structures, the effectiveness of disclosure, and on initiatives to protect investor interests and to promote investor confidence and the integrity of the securities marketplace. Members represent a variety of investor interests, including those of individual and institutional investors, senior citizens, and state securities commissions.

Click here to visit The DI Wire directory page.

Print Friendly, PDF & Email