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The latest Reg BI guidance addressed whether clients can 'waive' the rule's protections, whether affiliated firms can submit separate CRS forms, and whether firms have to build entirely new systems and processes to be in compliance.
Santa Clarita, Calif.-based Criterion Wealth Management Insurance Services recommended private real estate funds but failed to disclose 'significant' financial conflicts of interest, the SEC claims.
Groups such as the Heritage Action for America, FreedomWorks, Americans for Tax Reform and the National Black Chamber of Commerce call the SEC's proposal an "expensive 'solution'" to a "potentially non-existent 'problem.'"