Think Tank Survey Results Support SEC Proposed Customer Relationship Summary

In a survey report prepared by the RAND Corporation and made available by the SEC Office of the Investor Advocate, survey respondents expressed generally positive views of the SEC's proposed rulemaking known as the Customer Relationship Summary ("CRS"). The proposal was designed to improve the quality and transparency of investors' relationships with investment advisers ("IAs") and broker-dealers ("BDs").

As previously covered, the SEC proposal would require BDs and IAs to provide retail investors with a short-form "relationship summary" detailing (i) certain information related to services offered, including the legal standard that applies to each type, (ii) associated fees and (iii) conflicts of interest.