The SEC’s new reg that requires RIAs to describe their offerings and backgrounds in simple, easy to understand English seems to be getting rebuffed by advisors. The regulation will require a “plain English” approach that some say will take significant time to prepare. Since most advisors rely on consultants for these types of tasks, time translates into more costs for the RIAs. There seems to be some continued consternation about whether the regs require certain past customer complaints — whether resolved in favor of advisor or not — to be disclosed. But, most astonishing is the apparent resistance noted in seveal articles and blogs about having to disclose past bankrupties and other negative history. While states have yet to require plain English, it appears they will move in this direction as well. Here’s a link to a recent Financial Advisor article.