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- Final Rule: Investment Adviser Marketing - SEC. gov
The final rule covers marketing activities by investment advisers to clients and prospective clients as well as investors and prospective investors in private funds that those advisers manage
- 17 CFR § 275. 206 (4)-1 - Investment adviser marketing.
As a means reasonably designed to prevent fraudulent, deceptive, or manipulative acts, practices, or courses of business within the meaning of section 206 (4) of the Act (15 U S C 80b-6 (4)), it is unlawful for any investment adviser registered or required to be registered under section 203 of the Act (15 U S C 80b-3), directly or indirectly,
- The SEC s New Marketing Rule: Key Takeaways for Advisers
The Rule will replace the per se prohibitions of the current Advertising Rule (e g , testimonials and past specific recommendations) with more principles-based, general prohibitions The Rule expressly extends to communications with private fund investors, as opposed to just advisory clients
- The SEC Marketing Rule Explained: What You Need to Know
The SEC Marketing Rule, formally known as Rule 206 (4)-1 under the Investment Advisers Act of 1940, governs how registered investment advisors market their services to clients and prospects It applies broadly, including to RIA firms offering digital investment advice, automated portfolios, or app-based investment features The rule was modernized in 2020 and became fully enforceable in 2022
- SEC’s Latest Marketing Rule Guidance: Key Takeaways for Advisers
On March 19, 2025, the Securities and Exchange Commission’s (SEC) Division of Investment Management updated its Marketing Compliance Frequently Asked Questions (FAQ) to address industry confusion that has arisen in the wake of the adoption of amendments to rule 206 (4)-1 under the Investment Advisers Act of 1940 in December 2020 (the
- SEC Staff Issues New FAQs on Marketing Rule
On March 19, 2025, the staff of the Securities and Exchange Commission (the “SEC” or the “Commission”) published two new FAQs related to Rule 206(4)-1 (the “Marketing Rule”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) 2 The FAQs provide further guidance on when an investment adviser can (1) display
- SEC Staff Updates FAQs Regarding Marketing Rule Compliance – Gross and . . .
The SEC Staff cautions advisers that any extracted performance and portfolio characteristic presented in accordance with the updated FAQs remain subject to the general prohibitions under the Marketing Rule and the general anti-fraud provisions of the Investment Advisers Act of 1940, as amended
- Unlocking the SEC’s Updated Marketing Rule FAQs: What Investment . . .
Unlock the SEC’s updated 2025 Marketing Rule FAQs—discover how investment advisers can simplify extracted performance presentations, enhance marketing flexibility, and ensure compliance with the latest SEC guidance
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