- Strategically Selling A Financial Advisory Practice: Your Guide To A Successful Transition
- Dual Registration Dilemma: Navigating FINRA & SEC Regulatory Shifts
- RIA M&A Activity Rebounds: Opportunities & Challenges For Wealth Managers & Advisors
- Navigating Criminal Disclosures On FINRA’s Form U4
- How To Buy A Registered Investment Advisor (RIA) Business
Are you ready for full enforcement of the SEC’s new marketing rule?
Registered investment advisers (RIAs) regulated by the Securities and Exchange Commission (SEC) are required to fully comply with the SEC’s new marketing and advertising rule by November 4th, 2022. With compliance teams around the country already stretched thin from what seems like constant regulatory sweeps and harshening restrictions, RIAs may find themselves totally unprepared to take on this new, foundational rule.
SEC Marketing Rule
In December 2020, the 430-page marketing rule was approved by the SEC. In May 2021, the rule became fully effective, and it was announced that all RIAs must fully comply with the updated rule by November 4th, 2022. For the next 18 months, advisors were given the opportunity to transition their firms to comply with the new rule, develop new policies and procedures manuals, update related recordkeeping requirements, and make the necessary Form-ADV updates to meet the new rule’s compliance deadline (Nov. 4).
- Have your policies and procedures manuals been updated?
- Have you reviewed and updated all of your disclosures?
- Is your recordkeeping up-to-date and organized?
- Are you taking advantage of referral arrangements and the new opportunities they provide?
If you answered “yes” to any or all of these questions, great work! You’re one step closer to transitioning your firm to the new rule and enjoying the benefits of a more transparent way to share contacts and leads with other professionals.
If you answered “no” to any or all of these questions, you’re running out of time — the SEC’s compliance grace period ends in just a few days!
The compliance grace period is ending.
The SEC has allowed the grace period, and it will now be looking for full compliance at every opportunity. RIAs must be prepared.
Regardless of whether your RIA plans to use the new rule to better connect with clients and professionals, or whether your RIA isn’t interested in using the rule at all, the SEC requires that all RIAs implement the appropriate updates by November 4th.
If you aren’t prepared, AdvisorLaw can provide counsel. Our team of certified securities and compliance professionals and attorneys is available to answer any questions that you may have about the new marketing rule. We assist hundreds of RIAs just like yours in staying abreast of the ever-changing regulatory environment.
Contact us today for more information and a complimentary consultation with one of our specialists.
- 2024 SEC Examination Priorities: What Registered Investment Advisors Need To Know - November 2, 2023
- Navigating The Transition From Broker-Dealer To RIA: Podcast With Model FA - October 24, 2023
- Summary of NASAA’s 2023 Investment Adviser Coordinated Exams & Recommendations - October 19, 2023