Getting Ready for the New SEC Marketing Rule: Insights from the Field

Getting Ready for the New SEC Marketing Rule: Insights from the Field
08/30/2022

Our blog post series on the new SEC marketing rule covers several topics, including the expanded definition of advertising, leveraging technology, testimonials and endorsements, performance advertising, hypothetical performance, third-party ratings, Form ADV and recordkeeping requirements, reviewing and approving ads, and social media advertising. In this post, we share some insights from working with clients to prepare for the quickly approaching rule compliance date of November 4, 2022.

Keep these points in mind as you review your current procedures and marketing collateral to determine if any changes will be required to comply with the new rule:

  • Performance Presentations: If you provide performance information to prospective or existing clients, you need to review new rule requirements. For example, advisers are required to show net performance when presenting gross performance. Additionally, new rule requirements stipulate how performance must be presented. Check out our post on performance advertising and the new SEC marketing rule for helpful tips.
  • Social Media: If you use social media marketing, you should review the relevant guidance included as part of the new rule. Revisit our post on social media advertising and the new SEC marketing rule.
  • Private Funds: If you manage private funds, be sure to review new rule guidance pertaining to the marketing of private funds.
  • Solicitation Agreements: If you have solicitation agreements in place, or you're thinking about engaging a solicitor, you'll need to make any necessary changes to meet relevant rule requirements.

As you get ready for the new SEC marketing rule, reach out with any questions or concerns. We're here to help.