Securities and Exchange Commission Chairman Jay Clayton announced today two events for Main Street investors to be held in Boston on Monday, July 8.

First, Chairman Clayton will host a roundtable with Main Street investors as part of the SEC’s ongoing investor education efforts. The roundtable will focus on issues relevant to Main Street investors, such as understanding key differences between broker-dealers and investment advisers, and choosing whether to work with one of these types of financial professionals. Senior SEC staff are expected to join the Chairman at this event.

Later that evening, Chairman Clayton will discuss the package of rules and interpretations adopted by the Commission on June 5, which were designed to enhance and clarify the standards of conduct applicable to broker-dealers and investment advisers, help retail investors better understand and compare the services offered and make an informed choice of the relationship best suited to their needs and circumstances, and foster greater consistency in the level of protections provided by each regime, particularly at the point in time that a recommendation is made.

“The Commission has an important role to play when it comes to investor education, particularly when it comes to the critical decision of whom investors trust to assist them in securing their financial future,” said Chairman Clayton. “These events are intended to help Main Street investors better understand the key choices they have to make when deciding whether to work with a financial professional. I look forward to continuing the conversation I began with many Main Street investors at our roundtables last year.”

Details about the upcoming events can be found below. The events are free and open to the public and the media. Participants in the investor roundtable should be retail investors who work with, or are considering working with, a financial professional and have no affiliation with the financial services industry. Please note that the number of participants for both events may be limited.

Main Street Investor Roundtable

Location: U.S. Securities and Exchange Commission, Boston Regional Office – 33 Arch Street, 24th Floor, Boston, MA 02110

Date: July 8, 2019

Time: 2 p.m.-3 p.m., Doors open at 1:30 p.m.

RSVP: [email protected]

Chairman Clayton’s Discussion of the Standards of Conduct for Financial Professionals

Location: Babson College’s Stephen D. Cutler Center for Investments and Finance – 100 High Street, 9th Floor, Boston, MA 02210

Date: July 8, 2019

Time: 5 p.m.-6 p.m., Doors open at 4:30 p.m.

RSVP: [email protected]

Please note which event(s) you are registering for in your RSVP.

Background

On June 5, 2019, the Securities and Exchange Commission adopted a package of rulemakings and interpretations designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal requirements and mandated disclosures in line with reasonable investor expectations, while preserving access (in terms of choice and cost) to a variety of investment services and products. Specifically, these actions include new Regulation Best Interest, the new Form CRS Relationship Summary, and two separate interpretations under the Investment Advisers Act of 1940. Chairman Clayton previously announced that events such as these would be part of a new campaign designed to help retail investors understand key differences between broker-dealers and investment advisers, and to help them decide whether working with one of those types of financial professionals is right for them. This campaign will also feature a series of short educational videos and updates to the SEC’s investor education website, Investor.gov.

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