Description
This course is intended for Investment Advisers and associated investment professionals. In December 2022, a new rule concerning advertising and marketing, which was announced 18 months prior by the Securities and Exchange Commission, went into effect. This course covers the reasons for the new Marketing Rule and its various components. Besides examining general changes in the definition and rules of advertising, this course also covers issues around endorsements and testimonials. With the new Marketing Rule, certain recordkeeping requirements and industry forms were modified as well. You’ll learn about those changes and read about regulatory actions already undertaken regarding the new Marketing Rule. What about social media? That’s covered too. In addition to describing the workings of the new Marketing Rule, you’ll also read about the implementation process from announcement to compliance.
Learning Objectives
• Participants will understand what prompted the SEC to craft the new marketing rule and what it’s set to accomplish
• Participants will learn how no-action letters were and were not incorporated into the revised marketing rule.
• Participants will learn about the various stages of implementation and how they affect investment advisers
• Participants will learn how the rule defines advertising and the key points for each of the two prongs of the rule.
• Participants will review marketing rule guidelines in regard to using performance in advertising, testimonials and endorsements, and the consequences for misconduct.
• Participants will learn how third-party ratings are defined and managed under the marketing rule.
• Participants will learn more about the general prohibitions and how advisers can become entangled with social media content.
• Participants will learn about the updates made to Form ADV and the recordkeeping rule.
• Participants will review some of the SEC’s most frequently asked questions about the new rule and review the feedback given.
• Participants will learn about the first few enforcement actions taken since the rule went into effect and review the areas of continued focus