12.17.21
SEC Says Drop Jargon, Clarify Fees on Form CRS
by: Mark Schoeff, Jr.
The Securities and Exchange Commission (SEC) on Friday told brokerages and investment advisory firms they need to more clearly disclose their fees and explain their conflicts of interest while using less jargon on a document known as Form CRS. “Some relationship summaries included only vague fee descriptions and/or did not appear to sufficiently address the frequency with which those fees are assessed and billed,” said the SEC’s Standard of Conduct Implementation Committee.
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