New Amendments to the Marketing & Advertising Rule: What You Should Know

January 05, 2021 - 11:00 am to 12:30 pm
Investment Adviser
ACA's Kim Versace, K&L Gates' Mike Caccese, and K&L Gates' Mike McGrath

On December 22, 2020, the SEC adopted amendments to modernize Rule 206(4)-1 (the Advertising Rule) under the Investment Advisers Act of 1940. The Advertising Rule was the SEC’s first antifraud rule governing the activities of investment advisers, and in many respects it remains the most important. Today’s action represents the first substantive amendments to the rule since its adoption in 1961. The amendments will have vast implications for the compliance and business practices of nearly every investment adviser in the United States.

We invite you to join ACA and K&L Gates for a webinar on Wednesday, January 6, 2021 at 11AM EST that will explore the practical implications of the amendments to the Advertising Rule. 

Discussion topics include:

  • What is an “advertisement” under the amended Advertising Rule
  • Interpreting and applying the new “principles-based” standards
  • Presentation of gross and net performance
  • Practical impacts of the amendments on private fund managers
  • Guidelines for referencing specific investments