Regulatory Alerts2019-12-10 | 2019-24651Added · Updated
Investment Adviser Advertisements; Compensation for Solicitations
The Securities and Exchange Commission proposes amendments to the Investment Advisers Act to modernize rules governing investment adviser advertisements and solicitor compensation. The proposal replaces the 1961 advertising rule with a principles-based framework that permits testimonials and performance data under specific conditions, while expanding the solicitation rule to cover all forms of compensation and updating disclosure requirements. Additionally, the Commission seeks to amend Form ADV and the books and records rule to align with these changes and enhance regulatory oversight of adviser marketing practices.
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