SEC Charges 21 RIAs for Form CRS Filing and Delivery Failures

On July 26, 2021, the SEC announced that 21 Registered Investment Advisers (RIAs) settled charges alleging that they failed to file and deliver their client relationship summaries, known as Form CRS, in a timely manner. Form CRS is also frequently referred to as Form...

SEC Adopts New Rules and Interpretations Impacting RIAs and BDs

On June 5, 2019, the SEC voted to adopt the Form CRS Relationship Summary and Regulation Best Interest, also known as Reg BI. On the same day, the Commission issued two interpretations of the Investment Advisers Act of 1940. In its press release, the SEC stated that...