At a recent meeting, the SEC’s Investor Advisory Committee (IAC) approved a set of recommendations (Recommendations) regarding the SEC’s proposed Regulation Best Interest, Form CRS and fiduciary guidance under the Investment Advisers Act of 1940. This article reviews the Recommendations and includes relevant observations and insights from SEC Chairman Jay Clayton and members of the IAC who participated in the meeting. For additional recommendations from the IAC, see “What Do the Investor Advisory Committee’s Recommendations Mean for the Future of Marketing of Hedge Funds to Natural Persons?” (Oct. 24, 2014).