SEC Marketing Rule Insights and Alerts

The SEC has finalized the long-awaited overhaul of the Advertising Rule.

The new Marketing Rule was approved on December 22, 2020 and is intended to modernize the framework for investment adviser advertising and replace the patchwork of cases, no-action letters and SEC staff guidance that has developed in this area since the rule was first adopted in 1961.

Featured solution

Marketing Rule Gap Analysis

Assists your firm in assessing the gaps between current marketing and advertising practices and the new Marketing Rule.

  • Customized training covers and defines many of the key definitions and notable changes.
  • Review marketing practices, materials, and policies and procedures to identify areas that may require changes.
  • Review and classify performance metrics under hypothetical, extracted, predecessor/portable, and related performance categories.
  • Receive a summary report and project plan for implementing the new rule.

Our solutions

ACA can help you understand the requirements of the Marketing Rule as they relate to your business and help you prepare for new regulation.

Assists your firm in navigating the evolving regulatory landscape while considering the complexity of your unique compliance requirements.

Marketing Rule Gap Analysis and Implementation Support

Assists your firm in assessing the gaps between current marketing and advertising practices and the new Marketing Rule.

Performance Analysis Solutions (PAS) Dashboard

Assists your firm in meeting the new requirement pertaining to marketing related performance by providing a technology solution that will conduct outlier analysis, strategy drift analytics, and scoring metrics.

Helps your marketing and legal teams easily manage workflows for submitting, reviewing, approving, and archiving marketing and advertising materials.

Allows your firm to significantly reduce the amount of time and resources devoted to the marketing and advertising review process. ACA can step in during periods of high volume or assist with enhancing collateral review workflows and protocols.

Customized Training

Provides your firm with customized trainings that cover and define many of the key definitions within the new Marketing Rule.

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Latest insights and alerts

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A Guide to the Presentation of Performance Under the New Marketing Rule

June 30, 2021

In this guide we talk about changes and how firms can prepare to present performance in line with the new rule and actions they can take now in preparation for the final compliance date set for November 4, 2022.

Report
  • Performance
  • SEC Advertising Rule
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SEC Fines Registered Investment Adviser for Misrepresentation of Investment Performance and Marketing Violations

June 08, 2021

On June 3, 2021, the U.S. Securities and Exchange Commission (SEC) instituted a cease-and-desist order against a previously registered investment adviser for alleged violations.

Compliance Alert
  • Performance
  • SEC Advertising Rule
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Mitigating Risks Associated with Composite Performance Reporting Using ACA’s Performance Analytics Services

May 17, 2021

In addition to developing marketing materials and ensuring appropriate disclosures, firms must ensure that the performance being generated truly reflects the fund or strategy being offered.

Article
  • Performance
  • SEC Advertising Rule

New Marketing Rule - SEC Staff Confirms All or None Early Adoption Approach

March 26, 2021

The SEC issued an FAQ officially confirming what has been informally communicated by Division of Investment Management staff, which is that investment advisers may not implement the new Marketing Rule until they are prepared to comply with it in its entirety. Note that this includes both the rules around traditional advertisements and the new requirements for solicitation arrangements.

Compliance Alert
  • SEC Advertising Rule
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The New Marketing Rule’s Impact on the Presentation of Performance

March 22, 2021

The long-awaited modernization of the Marketing Rule was added to the Federal Register on March 5, 2021. Not only does the final marketing rule consolidate the advertising and cash solicitation rules, it also (among other things) categorizes certain considerations for presenting investment performance, effectively streamlining guidance currently found across multiple staff letters.

Article
  • SEC Advertising Rule
  • Performance
  • Compliance

SEC Adopts New Marketing Rule for Investment Advisers

January 13, 2021

The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited overhaul of the Advertising Rule (Rule 206(4)-1 under the Investment Advisers Act of 1940 (Advisers Act)).

Article
  • Compliance
  • SEC Advertising Rule

On demand webcasts

The New Marketing Rule: A Focus on Performance

Join ACA and K&L Gates for a detailed explanation of the specific performance requirements, how they differ from prior no-action letters, and what steps a firm should take now in order to be ready by the deadline.

Webcast

FAQs: Amendments to the Marketing & Advertising Rule

Join ACA for a complimentary webcast in which we'll provide answers to the most frequently asked questions we've received in response to the new marketing rule and its implications.

Webcast