US SEC Regulation Best Interest (17 CFR 240.15l-1)
Disclosure obligation (paragraph (a)(2)(i)) – US SEC Regulation Best Interest (17 CFR 240.15l-1)

US SEC Regulation Best Interest (17 CFR 240.15l-1) a2i-A3: Disclose the type and scope of services and any material limitations

What does a2i-A3 require?

The customer must be told what services the firm provides and how far they extend, including every material limitation on the securities or strategies that may be recommended, such as a proprietary-only shelf, a restricted product menu, or the absence of ongoing monitoring. The disclosure must let the customer understand what the firm will and will not do for the account.

Maintained by Gerard Blokdyk

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