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Regulation and Simplification

Sigma Investment Counselors

November 1, 2019

We have previously commented on the importance of regulations that are clear, concise and broadly acceptable (see our blog posted 14 Sep 2016).

A new Securities and Exchange Commission (SEC) rule requires brokers and financial advisors to describe their services, fees and conflicts of interest in “plain English” in a maximum of four pages.

This would seem to be a good start.  However:

The SEC needed approximately 165,000 words and almost 170 pages in the Federal Register to specify how advisors and brokers should comply with the new rule.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA

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