Do FINRA and SEC Disclosures Drive You Nuts? Here's Your Chance To Let The SEC Know How To Fix It

Thursday, January 19, 2012 09:44
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Do FINRA and SEC Disclosures Drive You Nuts? Here's Your Chance To Let The SEC Know How To Fix It

Tags: compliance | Dodd-Frank | FINRA | sec

Do you think advertising disclosure rules are unnecessarily complicated? Unfair? How would you improve them? Here’s your chance to let the Securities and Exchange Commission know your ideas for making the system better.

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The SEC is seeking comment on ways to improve disclosures before selling securities and securities products to investors or before hiring an advisor.
 
“The SEC is seeking comment on methods to improve the timing, content, and format of disclosures to investors regarding financial intermediaries, investment products, and investment services,” says the request for comments posted on the agency’s website. “It also requests comment on information that retail investors need to make informed financial decisions on hiring a financial intermediary or purchasing an investment product or service typically sold to retail investors, including mutual funds. In addition, the SEC seeks comment on how to make investment expenses and conflicts of interest in investment transactions more transparent to investors.”
 
Personally, I’d like to see the FINRA’s CRD and the SEC’s ADV database made to be indexed by search engines and searchable on the Web. That transparency would make it really easy for retail investors to find out about an advisor’s regulatory record and would aid advisors with clean records.
 

 

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