
The Rules & Interpretations
The Standards of Conduct Rulemaking package adopted by the Securities and Exchange Commission on June 5 consisted of four parts:
Regulation Best Interest (applying to broker-dealers)
Form CRS (applying to both broker-dealers and investment advisers)
An Interpretation of the Advisers Act Fiduciary Duty
An Interpretation of “Solely Incidental”
Below are links to the formal rules as adopted by the SEC:
Form CRS Relationship Summary; Amendments to Form ADV, Rel. No. 34-86032, IA-5247, File No. S7-08-18 (final rule)
Appendix A: Form ADV General Instructions
Appendix B: Instructions to Form CRS
Appendix C: Feedback Forms Comment Summary
Commission Interpretation Regarding Standard of Conduct for Investment Advisers, Rel. No. IA-5248, File No. S7-07-18
Commission Interpretation Regarding the Solely Incidental Prong of the Broker-Dealer Exclusion from the Definition of Investment Adviser, Rel. No. IA-5249
Regulation Best Interest: The Broker-Dealer Standard of Conduct, Rel. No. 34-86031, File No. S7-07-18 (final rule)