The SEC Fixed the Marketing Rule 5 Years Ago. Will States Get on Board?

The North American Securities Administrators Association proposed amendments to align state regulations with the Securities and Exchange Commission’s Marketing Rule would allow investment advisors to use client testimonials, third-party ratings and endorsements in their marketing. In a joint statement, CFP Board, The National Association of Personal Financial Advisors (NAPFA) and the Financial Planning Association® (FPA®) agreed the proposal would make compliance easier and ensure all investment advisors follow consistent rules, no matter their size or state.

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