SEC’s Office of Compliance and Examinations Risk Alert on Exams related to Form CRS dated April 7th 2020

The Office of Compliance Inspections and Examinations (“OCIE”) is
issuing this Risk Alert to provide SEC-registered broker-dealers and
investment advisers (“firms”) with information about the scope and content
of initial examinations after the compliance date for Form CRS.
Form CRS and its related rules (“Form CRS”) require firms to deliver to retail investors a brief customer or client relationship summary (“relationship summary”) that provides information about the firm. Firms must also file their initial relationship summaries (and any amendments) with the Commission, using the Central Registration Depository (“Web CRD”) or Investment Adviser Registration Depository (“IARD”), as applicable, and post the current relationship summary on the firm’s public website, if the firm has one. After the compliance date, OCIE will begin examinations to assess compliance with Form CRS. Initial examinations will focus on assessing whether firms have made a good faith effort to implement Form CRS. Please find the entire alert by clicking on the following link