While the SEC has been critical of certain firm information on Form CRS that it has reviewed, the regulator has not offered additional guidance to firms to help them better decipher the content required. FrontLine’s Founder and President says that needs to change. Ms. Lynch states that by strictly following the SEC’s suggested format, Form CRS becomes just a disclosure document that would not offer the meaningful information for clients as it was intended. She adds that she would like to see the SEC offer clearer guidance on how the forms should be structured, especially in light of ongoing targeted Reg BI exams. See InvestmentNews, “SEC warns Form CRS falls short but doesn’t prescribe fixes“
