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Form CRS: Preparation, Distribution, Procedures and More

May 7, 2020
1:00 PM - 3:00 PM EDT
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On June 5, 2019, the SEC adopted Form CRS and new rules, as well as amendments to its forms and rules under the Investment Advisers Act of 1940. Form CRS and its related rules require SEC-registered Investment Advisers to deliver to retail investors a brief customer or client relationship summary that provides information about the firm. Investment Advisers are required to file their relationship summary electronically via the Investment Adviser Public Disclosure (IAPD) website. This course will examine the form’s 5 specific disclosure items, including relationship and services; fees, costs, conflicts, and standard of conduct; and disciplinary history. In addition, the course will delve into the use of conversation starters. Conversation starters are questions added to the summary to prompt customers to ask for additional clarity about the relationship and services offered.

This course will explore requirements, drafting considerations, policy and procedure best practices and creative possibilities (including hyperlinks to videos, chat functionality, fee calculators, etc.).

After attending this course you will be able to:

  • Identify the 5 items of Form CRS (ADV Part 3)
  • Further identify elements of your firm to be included in the relationship summary to provide proper disclosure
  • Apply “plain English” drafting techniques to the firm’s relationship summary to fulfill disclosure requirements

For Whom: Designed to increase the professional competence of investment adviser professionals with legal, compliance and management responsibilities.

Suggested Skill Level: Basic

Instructional Method: Group Internet-Based and Group-Live

Pre-requisites for participation: No prerequisites are required. However, attendees can benefit by reviewing the Investment Advisers Act of 1940 and Form CRS to become familiar with structure and terms, and the SEC adopting release IA-5247 – Form CRS Relationship Summary; Amendments to Form ADV (September 10, 2019).

Advance Preparation: None

NRS Continuing Education Guide
Recommended CPE Credit: 2 in the Regulatory Ethics field of study
Maximum Recommended IACCP® CE Credit: 2
Maximum Recommended CA MCLE Credit: 2