Specifically, the Commission released the following proposals:

• Proposed Rule Release No. 34-83062, Regulation Best Interest — Would establish “a standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer.”
• Proposed Rule Release No. 34-83063, Form CRS Relationship Summary; Amendments to Form ADV; Required Disclosures in Retail Communications and Restrictions on the Use of Certain Names or Titles — Would “require registered investment advisers and registered broker-dealers (together, ‘firms’) to provide a brief relationship summary to retail investors to inform them about the relationships and services the firm offers, the standard of conduct and the fees and costs associated with those services, specified conflicts of interest, and whether the firm and its financial professionals currently have reportable legal or disciplinary events.”
• Release No. IA-4889, Proposed Commission Interpretation Regarding Standard of Conduct for Investment Advisers; Request for Comment on Enhancing Investment Adviser Regulation — Requests feedback on “the standard of conduct for investment advisers under the Investment Advisers Act of 1940” as well as the “licensing and continuing education requirements for personnel of SEC-registered investment advisers; delivery of account statements to clients with investment advisory accounts; and financial responsibility requirements for SEC-registered investment advisers, including fidelity bonds.”

For more information, see the press release and SEC Chairman Jay Clayton’s overview of the rulemaking package on the SEC’s Web site.