Political Quotes

“My amendment is very simple. It would add Form CRS to the list of exempted disclosures that would not require SEC investor testing. They have gone through it. Now, you just heard one of my colleagues talk about why somebody would oppose this. I can tell you why somebody would oppose this: Because we have been doing it for 7 years. For 7 years Reg BI has been debated. It has been litigated. It has been confusing. And it is time to move forward. The Securities and Exchange Commission has done that. So, again, the author of the bill earlier had said, Mr. Chair, that he was not interested in relitigating current rulemaking. Now is the time to show that. Now is the time to prove that. Support my amendment. So, Form CRS was part of the Regulation Best Interest rulemaking package. The form is a short, plain-language description of an investor-adviser or a broker-dealer's relationship summary. It is designed to help retail investors select or determine to remain with an advisory or brokerage firm. They are trying to figure it out. Importantly, Form CRS was the result of an extensive deliberative process at the SEC.…”