Last December, the SEC adopted significant amendments to its existing rules under the Investment Advisers Act governing advertising by investment advisers and cash payments to solicitors.
As a result of these amendments, as of May 4, 2021, there will be a single rule—new Rule 206(4)-1—which more comprehensively addresses requirements and prohibitions relating to investment adviser marketing and solicitation activities.
Compared against longstanding SEC rules and guidance in this area, new Rule 206(4)-1 reflects an updated regulatory approach along multiple dimensions, including, but not limited to:
- The SEC adopted significant amendments to existing rules governing advertising by investment advisers under the Investment Advisers Act.
- As of May 4, 2021 the new rule will more comprehensively addresses requirements and prohibitions relating to investment adviser marketing and solicitation activities.
- The panel examined the new rule and what it means for loan market investment advisers, including:
- An amended definition of “advertisement” that captures both communications traditionally covered under the old rules but also solicitation activities (including solicitation for which non-cash compensation is paid);
- Permission to use testimonials and endorsements, provided certain conditions are met;
- Certain new expressly stated general prohibitions on certain advertising practices; and
- Explicit prohibitions and guidance with respect to presentation of performance information.
EVENT DETAILS
Tuesday, May 11, 2021
4PM to 5PM (ET)|Webcast Only
Presentation, Replay and Recap| Now Available | Scroll Down to View
1 CLE Credit Will Be Issued
SPEAKERS
- David Dickstein, Partner, Katten Muchin & Rosenman LLP
- Richard Marshall, Partner, Katten Muchin & Rosenman LLP
- Amanda Segal, Partner, Katten Muchin Rosenman LLP
