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facade of SEC building in Washington DC (Photo: Diego M. Radzinschi/THE NATIONAL LAW JOURNAL)

The Securities and Exchange Commission said Monday that 21 investment advisors and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or customer relationship summaries, known as Form CRS, to their retail investors.

Pete Driscoll, head of the SEC’s exam division, said in March that the exam team “had identified hundreds of firms that we believed should have filed a Form CRS but didn’t.”

Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. She also wrote freelance articles for Institutional Investor in New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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