Following years of discussion, rule proposals and comments, the Securities and Exchange Commission (SEC) at long last approved its significant overhaul of Form ADV Part 2. The amendments to Part 2 include, among other things, requirements for:
- Improved format of and updates to the brochure;
- Expanded content to provide details most relevant to the clients of investment advisers;
- Brochure supplements to include resume-like information about the individuals servicing the advisory account; and
- Electronic access to the brochure.1
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