WSFS Names Owen Mathews Corporate Development Officer
The Securities and Exchange Commission (SEC) recently announced new rules aimed at increasing transparency for investors who use broker-dealers. These rules require broker-dealers to provide customers with a comprehensive summary of key information about their relationships and services. This includes details about fees, conflicts of interest, and disciplinary history.
The goal of these new rules is to empower investors to make more informed decisions when working with broker-dealers. By providing clear and concise information, investors can better understand the services being offered and the potential risks involved. This increased transparency is designed to help investors build trust with their broker-dealers and make confident investment choices.
Under these new rules, broker-dealers will need to deliver a document called Form CRS to current and prospective clients. This form must include information about the types of services offered, fees and costs, conflicts of interest, legal standards of conduct, and disciplinary history. Broker-dealers are also required to disclose any material limitations on the services they provide.
Investors are encouraged to review Form CRS carefully and ask their broker-dealer any questions they may have. By understanding the information presented in Form CRS, investors can make more informed decisions about their financial future. This increased transparency is a positive step towards building a more trustworthy and responsible financial industry.
