Advertising Regulation: An Update on the SEC’s Proposed Rule Changes
In late 2019, the Securities and Exchange Commission (SEC) proposed changes to its advertising rule for Investment Advisers, in what would be the first significant revision to the rule in decades. The proposed amendments are intended to update the rule to reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of industry practices. If enacted, the change will have significant implications for compliance teams.
The webinar featured an expert panel that offered insight into the details of the advertising rule proposal, how it might change based on industry comment, and what firms can do now to prepare.
Some of the topics that were covered include:
- The impact on IA advertisements, including social media
- New advertising prohibitions that would result
- How testimonials, endorsements and third-party ratings would be permitted
- How the definition of an “advertisement” would change
- New requirements for performance information
- Required disclosures that will be examined by regulators
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