Form CRS Sample, FAQs & Checklist*

New SEC Standards of Conduct Rules
Form CRS Sample & Resources

Beginning on June 30, 2020, investment advisers (and broker-dealers) will be required to provide retail investors with a new disclosure form – Form CRS. Form CRS is intended to be a simple, easy-to-read summary regarding the nature of a client’s relationship with the financial professional and must disclose:

  • The types of client relationships and services being offered
  • The fees, costs, conflicts of interest and standard of conduct associated with those relationships and services
  • Whether the firm and its financial professionals currently have reportable legal or disciplinary history
  • How to obtain additional information about the firm

For investment advisers, Form CRS will be required in addition to the disclosures already required in Parts 1 and 2 of Form ADV. Delivery of Form ADV will be required at the beginning of a new client relationship as well as for existing clients. Form CRS will be subject to SEC filing, updating and related recordkeeping requirements.

Form CRS is intended to reduce retail investor confusion regarding the marketplace for brokerage and investment advisory services and help retail investors decide whether to engage, or continue to engage, a particular firm or type of financial professional.

To assist members in understanding Form CRS, creating their own versions of the form and complying with SEC requirements, the IAA Legal Team has produced the following resources:

Form CRS Sample Template


Form CRS Checklist

IAA Webinar: New Form CRS  for Advisers Explained (July 19, 2019)