Form CRS
Chapters in this video
- 0:00 Form CRS versus Reg BI: the broader retail investor trigger
- 1:15 Required content: services, fees, conflicts, and conversation starters
- 2:57 Page limits: 2 for standalone, 4 for dual registrant
- 3:52 Delivery before the earliest of three triggers
- 4:40 Existing customers and the no-grace-period trap
- 5:15 30 days for requests, 60 days for amendments
- 5:48 Filing, posting, and 6-year retention
- 6:47 Form CRS in the full disclosure stack
- 7:18 Rapid-fire exam recap
What this video covers
- Why "retail investor" for Form CRS is broader than "retail customer" for regulation best interest (Reg BI), and why no recommendation is needed to trigger CRS
- The exact page limits: 2 pages for a standalone broker-dealer, 4 pages for a dual registrant
- The three earliest-of delivery triggers for new retail investors and why CRS must precede the very first recommendation
- Why existing customers have no blanket 30-day grace period for new accounts, rollovers, or new brokerage services
- The 30-day delivery rule for investor requests versus the 60-day rule for required amendments, and how to avoid swapping them
- Filing through WebCRD or the Investment Adviser Registration Depository (IARD), website posting, and the 6-year retention with 2 years easily accessible
- Where Form CRS fits in the broader disclosure stack compared to account-specific documents like margin disclosures or Securities Investor Protection Corporation (SIPC) information
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