Form CRS
Chapters in this video
- 0:00 What Form CRS is and the retail investor trap
- 1:22 Page limits: solo firm two pages, dual registrant four pages
- 2:20 The five mandatory sections and conversation starters
- 4:15 Delivery triggers: recommendation, order, account opening
- 4:50 Rollover recommendation as standalone trigger
- 5:42 Why Form CRS is a summary, not a contract
- 6:10 Dual amendment clocks: 30 days to file, 60 days to notify
- 6:54 Filing with SEC via WebCRD or IARD, plus website posting
- 7:27 The 30-day deadline for investor requests
- 7:47 Rapid-fire exam recap
What this video covers
- The difference between a retail investor under Form CRS and a retail customer under Regulation Best Interest, and why the broader investor definition means CRS always comes first
- The absolute page limits: two pages for a solo broker-dealer or investment adviser, four pages for a combined dual registrant summary
- The five required sections in exact order, from introduction through additional information, and the bolded conversation starters embedded within
- The three primary delivery triggers for new retail investors, plus why a rollover recommendation stands alone as an independent trigger even without a new account opening
- Why Form CRS is a summary, not a contract, and what that means for the separate legal status of account opening agreements
- The dual amendment deadlines: 30 days to file and post the updated version, then 60 days to communicate the change to existing customers without charge
- Filing destinations, WebCRD versus IARD, website posting requirements, and the 30-day response window for investor requests
Read the full lesson, free
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