The WSJ’s Jason Zweig discusses the new SEC disclosure rule’s failure. He cites Congressman Sean Casten of Illinois who sponsored a bill that requires the SEC to test new disclosures. He suggests we communicate “More like Hemingway and less like lawyers.”

The new SEC rule fails because, among a host of reasons, it ignores simple common sense. Common sense that is evident in CFA Institute’s 2016, 2018 Trust research and the SEC’s own research. Common sense that underlies the Institute’s Real Fiduciary™ Practices. This common sense? Investors want honesty in transparency and clarity on fees and conflicts. That an act of Congress seems needed to get it speaks volumes.

Zwieg urges readers to weigh in. Let’s hope the SEC is looking.

Article originally appeared in the Wall Street Journal by Jason Zweig.

If you think your job is tough, try simplifying financial disclosures.

. . .

The new disclosure, called Form CRS, makes financial information simpler—but not simple enough. Investors don’t just need to learn what to ask, but why the answers matter.

Read the rest of the article at WSJ.com.