Compliance Date Approaching for New Marketing Rule for Investment Advisers
Highlights
The SEC’s new Marketing Rule requires compliance by Nov. 4, 2022
Investment advisers required to be registered with the SEC must comply with the Marketing Rule, which is expected to have impacts on existing and future marketing materials
Exempt reporting advisers are not subject to the Marketing Rule, but continue to be subject to general anti-fraud requirements
On Dec. 22, 2020, the Securities and Exchange Commission (“SEC”) announced its decision to overhaul and modernize the SEC’s “Advertising Rule” (previous Rule 206(4)-1 under the Advisers Act, as defined below) and “Cash Solicitation Rule” (previous Rule 206(4)-3 and together with previous Rule 206(4)-1, the “Prior Rules”) into a single rule designed to regulate investment advisers’ marketing communications.
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