Eccleston Law: For Investors. For Advisors
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
Broker Transition
Transition Contract Review
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Contract Review
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
Securities Fraud
Breach of Fiduciary Duty
Retirement Planning Negligence
Unauthorized Trading
Lawyer Referral Network
FAQs
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact
Site Menu
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
For Advisors: Overview
Broker Transition
Broker Transition Overview
Transition Contract Review
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Contract Review
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
For Investors: Overview
Securities Fraud
Breach of Fiduciary Duty
Retirement Planning Negligence
Unauthorized Trading
Lawyer Referral Network
FAQs
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact

Reg B-I’s Relationship Summary is a Call to Action for Advisors with CRD Disclosures

Posted on March 4th, 2020 at 2:49 PM
Reg B-I’s Relationship Summary is a Call to Action for Advisors with CRD Disclosures

From the Desk of Jim Eccleston at Eccleston Law LLC:

Regulation Best Interest (“Reg B-I”) is set to take effect June 30, 2020. Under Reg B-I, Investment advisors and Broker-Dealers are required to provide a Form CRS, also known as a Relationship Summary, to retail investors.  The Relationship Summary must be provided to a retail investor at the beginning of the retail investor’s relationship with the firm, as well as at certain other events.  

Among a list of requirements, the Relationship Summary must include the financial professional’s legal and disciplinary history.  Required in the disciplinary history section of the Relationship Summary is any disciplinary history disclosed on a financial professional’s Form ADV, Form BD, Form U6, Questions 14 A-M of the Form U4, or Questions 7A or 7C-F of the Form U5.

The Relationship Summary must also include certain questions, called “conversation starters,” that a retail investor may want to ask.  The conversation starters encourage retail investors to ask specific questions on a range of topics, including whether a brokerage or investment advisory service is more appropriate for that retail investor, the specific fees and costs associated with a hypothetical $10,000 investment, and the qualifications of the financial professional with whom they are working. 

In our next discussion of Reg B-I’s Relationship Summary, we will provide examples of disclosable events, and how advisors can act now to clear their records by way of expungement and other actions.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities Fraud, Compliance Protection, Breach of Fiduciary Duty, FINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, james eccleston, crd disclosures, regulation best interest, form crs

Share

Return to Archive

Latest Articles
Revenue-Sharing Found to Lead to Higher Expenses
January 18th, 2021 at 4:11 PM
SEC Files Suit Against Advanced Practice Advisors and CEO Paul Spitzer
January 15th, 2021 at 10:35 AM
Read More »
Latest News
CFP Board is the New Sheriff and it Is Not Your Friend
October 24th, 2020 at 10:04 AM
Defending Against a Customer Complaint First Requires Selecting Correct Legal Counsel
October 15th, 2020 at 10:02 AM
Read More »
Share

Request a Free Consultation

Attorneys are standing by during regular business hours. Call us now for immediate service, or complete the form below and we will contact you as soon as possible.

Your E-mail Address:
 
Chicago
55 West Monroe St.
Suite 610
Chicago, Illinois 60603
(312) 332-0000
(312) 332-0003
New York City
One Liberty Plaza
165 Broadway, 23rd Floor
New York, New York 10006
(312) 332-0000
(312) 332-0003
Boca Raton
2255 Glades Road
Suite 324A
Boca Raton, Florida 33431
(312) 332-0000
(312) 332-0003
2021 © Eccleston Law, LLC.
All Rights Reserved.
The law is continuously changing. Please do not rely on information found on this site without consulting a lawyer to determine if any recent changes in the law may have an impact.