SEC Revises Marketing FAQ to Address Private Fund Net Performance What happened? On January 11, 2023, the SEC updated its Frequently Asked Questions page for the New Marketing Rule. There are now three questions and three answers. The first dealt with the compliance date of November 4, 2022, and [...]
SEC New Marketing Rule Compliance Date Reminder What happened? Reminder: As of Today, investment advisers can no longer choose to comply with previous advertising and cash solicitation rules following the Nov. 4, 2022, compliance deadline for the new Marketing Rule, rule 206(4)-1, under the Advisers Act. The Marketing Rule [...]
SEC Risk Alert on the New Marketing Rule: Act Now to Prepare What happened? The Division of Examinations (“EXAMS”) published a risk alert yesterday to inform investment advisers, including advisers to private funds, that examiners will conduct “a number of specific national initiatives” that focus on the new Marketing [...]
The New Marketing Rule: Part 7 – Third Party Ratings What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation rules, along with updates to other requirements for registered investment advisers. The formerly separated rules are now combined [...]
The New Marketing Rule Part 6: Categories of Performance and Their Requirements What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation rules, along with updates to other requirements for registered investment advisers. The formerly separated rules are now [...]
The New Marketing Rule Part 5 - Challenges for Performance Advertising What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation rules, along with updates to other requirements for registered investment advisers. The formerly separated rules are now combined [...]
The New Marketing Rule Part 4 - Implications for Social Media What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation rules, along with updates to other requirements for registered investment advisers. The formerly separated rules are now combined [...]
The New Marketing Rule Part 3 - General Prohibitions What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation rules, along with updates to other requirements for registered investment advisers. The formerly separated rules are now combined under the [...]
The New Marketing Rule: Part 1 - What is an Ad? What Happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation rules, along with updates to other requirements for registered investment advisers. The formerly separated rules are now [...]
The New Marketing Rule: RETIRING NO-ACTION LETTERS WHAT HAPPENED? When the SEC adopted the Marketing Rule, it rescinded the Cash Solicitation Rule as of the Marketing Rule’s compliance date and stated that the staff no-action letters that address that rule are to be nullified. With the SEC adoption of the new Marketing [...]