Time To Comply With SEC Regulation Best Interest, Form CRS

Law360 (June 30, 2020, 8:39 PM EDT) -- The compliance date for two rules adopted by the U.S. Securities and Exchange Commission last year, Regulation Best Interest[1] and the Form CRS Relationship Summary,[2] has arrived for broker-dealers and investment advisers.

As the COVID-19 pandemic continues to affect the financial markets, SEC Chairman Jay Clayton has placed particular emphasis on good faith efforts to comply with Reg BI and Form CRS by the June 30 compliance date and has noted several areas of focus for firms to consider when preparing for the requirements of Reg BI and Form CRS.

With Clayton's remarks in mind, there are many recent regulatory developments...

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