Reg BI Disclosure Does Not Pass Readability Test

By DIANA BRITTON, WEALTHMANAGEMENT.COM — The Securities and Exchange Commission has circulated a mockup of its Customer Relationship Summary form, a disclosure requirement in its proposed Regulation Best Interest, which is meant to alleviate client confusion about the differences between brokers and registered investment advisors. But the mockup didn’t pass a simple readability test conducted by Dr. Deborah Bosley, owner of The Plain Language Group. Bosley found that the document was Read more […]

Fiduciary Group: Brokers Must Tell Customers ‘We Do Not Represent You’

By TRACEY LONGO, FINANCIAL ADVISOR MAGAZINE — “There is a lot of jargon and information that is not telling the whole story or implies that things will be better in a broker situation than in a fiduciary situation, which of course is not true, so in our rewrite we tried to be very clear about differences between brokers and advisors,” said Deborah S. Bosley, principal of The Plain Language Group, which was retained by the Fiduciary Institute to do a qualitative review of the SEC’s Read more […]

Hearing on Controversial N.H. Voting Law SB3 Wraps Up

By CASEY MCDERMOTT, NEW HAMPSHIRE PUBLIC RADIO — The plaintiffs called on Bosley, a communications consultant who spent decades teaching technical writing, to analyze the readability of the language on new voter registration documents used under SB3. Specifically, Bosley looked at the new voter registration form and a set of instructions given to voters about what steps they need to take to follow the new voting law. She performed a series of tests analyzing the documents’ complexity Read more […]