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Submitted URL: https://email.cloud.secureclick.net/c/4256?id=60678.315.1.49e1e2584d2c9507da4b576e1186ac03
Effective URL: https://www.cipperman.com/2021/10/21/adviser-fined-for-failing-to-file-and-deliver-form-crs/
Submission: On October 22 via manual from US — Scanned from DE
Effective URL: https://www.cipperman.com/2021/10/21/adviser-fined-for-failing-to-file-and-deliver-form-crs/
Submission: On October 22 via manual from US — Scanned from DE
Form analysis 1 forms found in the DOM
GET https://www.cipperman.com/
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<meta content="https://www.cipperman.com/?s={s}">
</form>Text Content
* Skip to primary navigation * Skip to main content * About * Meet the Team * Todd Cipperman * Why Choose Us * Services * Money Managers * Registered Funds * Private Equity * Broker-Dealers * CyberSecure - Funds * In The News * Outsourced CCO * Client Engagement * Resources * Helpful Information * Regulatory Exams * Executive Interviews * Blog * Podcasts & Videos * Best Practices * Contact Us Search this website OUR TAKE BLOG Home Our Take Blog Adviser Fined for Failing to File and Deliver Form CRS ADVISER FINED FOR FAILING TO FILE AND DELIVER FORM CRS The SEC fined and censured a registered investment adviser for failing to file and deliver to clients its Form CRS. An investment adviser that serves retail clients must file Part 3 of Form ADV aka Form CRS (Customer Relationship Summary), deliver it to clients, and post it on its website. Advisers operating when the SEC adopted the rule had until June 30, 2020 to file Form CRS and until July 30, 2020 to deliver it to current clients. The SEC contacted the firm in October 2020 about its failure to comply (and again in January 2021), but the firm did not take action until March 2021. The Form CRS requires identifying information about the adviser or broker-dealer, a description of the relationship and services, disclosure about fees, costs, conflicts, and standard of conduct, and disciplinary information. The SEC announced last year that it would conduct Regulation Best Interest and Form CRS exams. Our experience has been that the SEC has given warnings to firms that have failed to file and deliver Form CRS. We don’t expect that the SEC will offer such clemency more than 18 months after the compliance date. Read SEC Order here. Back to Top 480 E. Swedesford Road, Suite 220, Wayne, PA 19087 610-687-5320 © 2020 Marlivia Properties LLC