On Dec. 22, 2020 the Securities and Exchange Commission announced it had finalized reforms under the Investment Advisers Act to modernize the SEC’s marketing rule that govern investment adviser advertisements and payments to solicitors. The amendments create a single rule that replaces the current advertising and cash solicitation rules. The final rule is designed to comprehensively and efficiently regulate investment advisers’ marketing communications.
During RIA Compliance Consultants’ January 28, 2021 webinar, our Senior Compliance Consultants will discuss this rule’s requirements and how they will affect registered investment advisers. We will present this webinar live through Zoom on Thursday, January 28, 2021 at 12:00 PM CT. A recording of this webinar will be made available the week of February 1, 2021.
Click the following link to read the SEC’s Press Release about the SEC’s adoption of the Modernized Marketing Rule for Investment Advisers https://www.sec.gov/news/press-release/2020-334 .
Click the following link to read RIA Compliance Consultants’ recent blog post about the SEC’s New Marketing Rule: https://www.ria-compliance-consultants.com/2021/01/sec_new_marketing_rule_for_investment_advisers/ .
Click the following link for the frequently asked questions about the SEC’s new Marketing Rule: https://whttps://www.ria-compliance-consultants.com/the_regulatory_maze/ww.ria-compliance-consultants.com/https-www-ria-faqs_sec_marketing_rule_for_investment_advisers/ .
The rule replaces the current advertising rule’s broadly drawn limitations with principles-based provisions designed to accommodate the continual evolution and interplay of technology and advice, and includes tailored requirements for certain types of advertisements. For example, the rule will require advisers to standardize certain parts of a performance presentation in order to help investors evaluate and compare investment opportunities, and will include tailored requirements for certain types of performance presentations. Advertisements that include third-party ratings will be required to include specific disclosures to prevent them from being misleading. The rule also will permit the use of testimonials and endorsements, which include traditional referral and solicitation activity, subject to certain conditions.
“The marketing rule reflects important updates to the traditional advertising and solicitation regimes, which have not been amended for decades, despite our evolving financial markets and technology,” said Chairman Jay Clayton.
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