Fiduciary Duty

SEC ADOPTS FORM CRS AND OTHER RULES
NCA Compliance Resources

SEC ADOPTS FORM CRS AND OTHER RULES

The SEC adopted today a number of rulemakings and interpretations focused on bringing greater quality and transparency to the relationships between retail investors and investment advisors and broker-dealers. Of special interest to investment advisors is a new Form CRS Relationship Summary and an interpretation under the Investment Advisers Act of 1940 regarding the fiduciary duty of investment advisors.   

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June 6, 2019
New SEC Proposals re Investment Advisers
NCA Compliance Resources

New SEC Proposals re Investment Advisers

On April 18, 2018, the SEC proposed an interpretation to reaffirm and clarify the Commission’s views regarding the fiduciary duty that investment advisers owe to their clients. In discussing this fiduciary duty, the SEC hopes to clarify for both advisers and their clients the legal obligations investment advisers have to their clients. In addition, the SEC proposed Form CRS, which would require advisers (and broker-dealers) to provide a “relationship summary” to retail investors.

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April 19, 2018