SEC IA Ad Rule

Pen and yellow sticky notes written with Clients Testimonial on wooden background.

Tips when using testimonials

It would be ideal if chosen testimonials “somehow provide transparency to the investment process”

Tips to navigate tricky extracted performance

That new SEC FAQ tied to the IA advertising rule certainly has thrown the industry for a loop

More reaction to SEC IA ad rule FAQ

“I’m concerned about what other interpretations are coming” from the SEC on the new ad rule, he continues. “The marketing rule has a lot of flaws …. There are a lot of things that people are struggling with.”

Another peek at exams and advertising

An SEC document request letter from a new exam of an investment adviser obtained by RCW reveals another sign of what will be scrutinized when it comes to the new IA ad rule



About this page

November 2022 brings a new SEC investment adviser advertising rule—replacing a more than 60-year-old rule. The new rule opens the gates to a wider use of social media by advisers, permits the use of testimonials and endorsements, sets requirements around disclosures and establishes standards when using performance or hypothetical advertising, among other changes. The new rule affects private fund advisers as well. This editorial tent-pole collects in one place all that you’ll need to comply with the new rule.



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