Poll: Is the SEC’s plain language requirement for Form ADV Part 2 a good idea?
SEC-registered advisors must rewrite Part 2 of their Form ADV using plain language. The requirement takes effect in 2011.
You won’t be surprised to learn that I favor plain language, but I’m curious to know what you think of the new requirement.
Please answer the poll in the right-hand column of my blog, asking “What do you think of the plain language requirement for Form ADV Part 2?”
- Bad idea
- Okay, but will cost too much time and money
- Good idea, but I’m not sure if it’ll be implemented effectively
- Great idea, I’m looking forward to it
- None of the above (please leave a comment)
By the way, the SEC’s plain English handbook is a great resource for your Form ADV rewrite, as Deborah Bosley and Libby Dubick point out in “Lemonade from legislative lemons: New ‘plain language’ rules for Form ADV give advisors a chance to stand out.” Investment News (Oct. 4, 2010, registration required).