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SEC Releases Frequently Asked Questions on Form CRS

The Securities and Exchange Commission has posted responses to frequently asked questions about Form CRS on its website and expects to update additional questions...

SEC Releases Investor Testing Report on Proposed Form CRS Relationship Summary

To help address investor confusion about the nature of their relationships with investment advisers and broker-dealers, the SEC’s Office of the Investor Advocate has...

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

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...

Merrill Lynch Reverses Ban on Commission-Based Retirement Accounts

Merrill Lynch, the wealth management arm of Bank of America, is reversing its ban on commission-based products in customer retirement accounts following the death...

SEC Chairman Clayton: Broker Sales Contests Should Be Eliminated

In a statement released on Wednesday, Securities and Exchange Commission chairman Jay Clayton said that it is in the best interest of Main Street...

Massachusetts Regulator Blasts SEC Best Interest Proposal, Threatens State Rule

Secretary of the Commonwealth William Galvin, the securities regulator in Massachusetts, has submitted comments to the Securities and Exchange Commission opposing their regulation best...

SEC Opens Comment Period for Broker Advice Rules

The Securities and Exchange Commission published its 1000-page investment advice proposal in the Federal Register and will close the comment period on August 7,...

SEC Submits “Fiduciary Rules” for Public Comment

The Securities and Exchange Commission voted 4-1 yesterday to seek public comment on its proposed best interest rule for brokers, a new broker-client relationship...