Topic
Marketing Rule
21 published works
Compliance Building
The SEC Reverses its Position on Extracted Performance
On March 19, the Division of Investment Management published an updated FAQ on the Marketing Rule addressing extracted performance. The January 2023 Marketing Rule FAQ on extracted performance has been…
The Securities Law Blog
SEC Charges Nine Investment Advisers in Ongoing Sweep into Marketing Rule Violations
The Securities and Exchange Commission today announced settled charges against nine registered investment advisers for violating the Marketing Rule by disseminating advertisements that included untrue or unsubstantiated statements of material…
Compliance Building
The One With Performance an Acre Apart from Reality
Reviewing the actions filed against other fund managers by the Securities and Exchange Commission helps me see what the SEC thinks are bad actions. When I started reading the case…
Federal Regulatory & Enforcement Insider
SEC Staff’s Latest Marketing Rule Risk Alert Highlights Initial Observations from Examinations
By Nathaniel Segal, Jacob C. Tiedt, Mark Quade, Jake W. Wiesen
On April 17, 2024, the SEC’s Division of Examinations issued its latest risk alert regarding Rule 206(4)-1 of the Investment Advisers Act of 1940, known as the Marketing Rule. Following…
Compliance Building
Initial Observations Regarding Advisers Act Marketing Rule Compliance
With the issuance of the Marketing Rule for Investment Advisers (Rule 206(4)-1) decades of interpretations and guidance were wiped out. We’ve been waiting to see what falls under those seven…
Ryan P. Smith Law Blog
It Is Still Art
By Ryan
In April 2024, the Securities and Exchange Commission’s Division of Examinations (“EXAMS”) posted another Risk Alert concerning the Marketing Rule (Advisers Act Rule 206(4)-1). This was EXAMS’ third Risk Alert…
Cohen & Buckmann Insights
RISK ALERT 4/17/24: DOE shares results of Marketing Rule Exams.
By Lauri London
IA Advertising: SEC’s DOE wants advisers to see the forest AND the trees – review those ads at least twice and from more than one angle. Recent exams results warn…
SEC Actions
EXAMS’ Initial Observations — The Amended Marketing Rule
The Division of Examinations or EXAMS published a risk alert on April 17, 2024, regarding the amended Marketing Rule for investment advisers, Rule 206(4)-1. The Observations are divided into two…
Federal Regulatory & Enforcement Insider
SEC Settles Enforcement Proceedings Against Nine Advisers for Alleged Marketing Rule Violations
By Nathaniel Segal, Jacob C. Tiedt, Marylyn Harrell
On September 11, 2023, the SEC announced the settlement of administrative proceedings brought against nine registered investment advisers for disseminating hypothetical performance returns on their public websites without adopting required…
The Securities Law Blog
SEC Sweep into Marketing Rule Violations Results in Charges Against Nine Investment Advisers
The Securities and Exchange Commission today announced charges against nine registered investment advisers for advertising hypothetical performance to the general public on their websites without adopting and/or implementing policies and…