Journal of Financial Planning: September 2020
77…Percentage of survey respondents moderately to highly confident in their ability to comply with Reg BI requirements by June 30, 2020. (SIFMA and Deloitte)
83…Percentage of survey respondents who expressed a moderate to high level of confidence in being able to sustain compliance with the requirements of the Reg BI rule after June 30, 2020. (SIFMA and Deloitte)
79…Percentage of survey respondents who ranked the development and delivery of Form CRS as the most challenging part of Reg BI to implement. (SIFMA and Deloitte)
$144 million…Amount of money allocated to Reg BI readiness across survey respondents, who were SIFMA members.
(SIFMA and Deloitte)
64…Percentage of compliance professionals surveyed who cited COVID-19-related business continuity planning as their most pressing compliance issue. (ACA Compliance Group)
62…Percentage of respondents who have retail investor clients entitled to receive the new Form CRS. (ACA Compliance Group)
24…Percentage more time advisers who are proficient and frequent users of technology spend on practice management
activities including compliance tasks. (Cerulli)
42…Percentage of respondents who plan to deliver Form CRS to all clients, not just retail investor clients. (ACA Compliance Group)
1,240…Number of the 87,000 CFP® certificants who warrant further investigation for possible violations of the CFP Board Code of Ethics and Standards of Conduct. (Financial Advisor)
40…Percentage of
those 1,240 CFP® certificants whose possible violations involved tax liens or civil actions that were not consumer-related.(Financial Advisor)