In this, our third annual guide to the new disclosure regime known as the client relationship model, phase 2 (CRM2), we review a range of complex issues that have emerged for advisors and their firms, from keeping up with the technological challenges to what to watch for on the enforcement front. And as implementation of CRM2 winds down, we also look ahead to new regulatory proposals, including a statutory “best interest” standard, changes to credentials and extending CRM2 to insurance products. While none of these moves are certain, the investment industry most likely can anticipate several more rounds of major regulatory change.
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