CSS Breakfast Brief – Regulation Best Interest & Form CRS

- CSS New York City Headquarters | 777 Third Avenue, 10th Floor

CSS and Mayer Brown LP will be hosting a vibrant, lively planning session on Regulation Best Interest and Form CRS for dual registrants and investment advisers with a broker-dealer affiliate.

Broker-dealers must deliver Form CRS to each retail investor prior to or at the earliest of making a recommendation of an account type, securities transaction or investment strategy to, or opening a brokerage account or placing an order for, the retail investor.

Investment advisers must deliver Form CRS to each retail investor before or at the time they enter into an investment advisory contract with such person.

With the compliance date arriving in less than a year, get ahead of these impactful rule changes by joining us!

8:30-11:00

  • What Reg BI and Form CRS entails for dual registrants, including clarification on July 8 by SEC Chairman Jay Clayton
  • Identifying conflicts – Grappling with disclosure vs. mitigation/elimination
  • Building out a conflicts inventory
  • Identifying operational changes
  • Identifying clients
  • Workflow and mapping out policies and procedures
  • Planning and training: Conversation starters
  • Planning and organizing Form CRS – a single relationship summary or two?
    • Format, length and content
    • Design features, use of graphics, tools and links
    • Descriptions of products and services: 12 areas to cover
    • Filing and updating, transition, website and public availability
    • Acknowledging other financial services
    • Considerations for automated advisory services
    • Delivery: Timing, existing customers, new clients and updates
    • Electronic posting – Website considerations
  • Recordkeeping

Date: Thursday, July 25
Time: 8:30-11 am ET
Place: CSS New York City Headquarters – 777 Third Avenue, 10th Floor

Space is limited – RSVP early!

 Jackie Hallihan – Executive Director, CSS

Jackie is a Director of Ascendant consulting at CSS and has over 25 years’ regulatory and risk management experience. She was the founder of National Regulatory Services (NRS) which started the compliance resource business and served as its President for over 20 years. She also founded the National Society of Compliance Professionals (NSCP), a non-profit organization for compliance officers, staff and lawyers serving the compliance industry. It now boasts over 2000 memberships. Jackie has been a leading speaker to compliance professionals, including in-house training programs and various other industry association conferences, and has received numerous industry awards.

Jackie also serves as Director, Clerk of the New England Broker Dealer Investment Adviser Association (NEBDIAA), a non-profit organization, incorporated in 1997. The purpose of NEBDIAA is to provide a forum for the professional exchange of information among investment advisers, broker dealers, and persons who provide services to investment advisers and broker dealers, and to direct communication among its members which will improve their ability to serve the needs of their respective clients. The forum will help NEBDIAA’s members meet the increased regulatory demands placed on investment advisers, broker dealers, and persons who provide services to investment advisers and broker dealers.

Stephanie Monaco – Partner, Mayer Brown

Stephanie Monaco is a member of the Corporate & Securities practice. She advises investment management firms, investment companies and hedge funds across a broad range of investment management needs. Formerly an attorney with the Us Securities and Exchange Commission, Stephanie brings a deep understanding of the regulatory environment to counseling clients on issues of compliance and product development.

Stephanie has been selected for inclusion in the Best Lawyers in America every year since 2009. In 2012, she was named the Best Lawyers’ 2012 Washington DC Private Funds / Hedge Funds Law Lawyer of the Year. She has been recognized in Chambers for her “great attitude, great business sense and responsiveness.” Chambers has also noted that Stephanie “has a keen understanding of industry issues” and “knows when to step back and when an issue has to be forced.”

Stephanie joined Mayer Brown in 2005. Previously, she was a partner at other prominent law firms in Washington DC. She also worked with the SEC’s Division of Investment Management, first in the Division’s Chief Counsel’s Office (1983-1986) and, later, in the Division’s Office of Investment Company Regulation (1988-1991).

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