On June 5, 2019, the Securities and Exchange Commission approved a package of rulemakings and interpretations designed to enhance the quality and transparency of investors' relationships with broker-dealers and investment advisers while preserving access to a variety of types of relationships and investment products. This long overdue package reflects almost two decades of study and engagement and thousands of comment letters. In this Alert, we summarize and analyze the newly adopted rules and interpretations.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
