The document, which provides further clarification on certain issues, also encourages members to meet with MFDA staff to review their new CRM2 client reports
The regulator is also taking a proactive approach to members’ concerns about cost and compensation reporting coming into effect with CRM2
Explain what they get for the money they pay
The guidance spells out what firms should do relating to the cost disclosure and performance reporting provisions, which will be in force on July 15
The self-regulatory organization granted 634 exemptions from specific rules in 2015
The new CE course is designed to teach advisors about disclosure requirements and obligations
The regulator is seeking feedback on whether to include costs imposed by fund managers
Document aims to clarify firms’ obligations under the first phase of the Client Relationship Model rules
The exemption relates to reporting requirement for firms that have relatively small amounts of client assets held off-book
"Bad" advisors will experience money in motion