Final answer:
Form CRS is required under Reg BI for broker-dealers to disclose their relationship with clients, providing key information about the services offered, fees, and conflicts of interest. Hence, option (A) is correct.
Step-by-step explanation:
Under Regulation Best Interest (Reg BI), the form required for a broker-dealer to disclose the relationship it maintains with its clients is Form CRS.
Form CRS, also known as the Customer Relationship Summary, is a brief document that broker-dealers and registered investment advisers provide to retail investors. Its purpose is to inform clients about the types of relationships and services the firm offers, fees, costs, conflicts of interest, the legal standard of conduct, and whether the firm and its financial professionals have a history of certain legal or disciplinary events.
Form BD (Uniform Application for Broker-Dealer Registration) is the form used to apply for registration as a broker-dealer with the Securities and Exchange Commission (SEC). Form ADV (Uniform Application for Investment Adviser Registration) is used by investment advisers to register with the SEC and state securities authorities. Form U4 (Uniform Application for Securities Industry Registration or Transfer) is used for the registration of individuals, including broker-dealer representatives, with self-regulatory organizations (SROs).