SESSION 2: Sharing Solutions: Implementing the New SEC Advertising Rule

The SEC’s revised Advertising and Cash Solicitation Rules withdraw dozens of prior no-action letters and well-established guidance and impose detailed conditions on an adviser’s ability to advertise certain types of performance and require that firms develop and implement a new supervisory and compliance infrastructure to comply.  This session is a deep dive into the revised, principles-based rule and its impact on performance advertising and risk mitigation controls. Attendees are expected to have a basic understanding of the new rule.

Learning Objectives:

  • Review the Advertising Rule and its effect on existing no-action letters and precedents
  • Learn how to adapt your policies and procedures to comply with the revised rule
  • Analyze the effect of the rule on performance advertisements, such as disclosure requirements and GIPS compliance, and the use of back-tested and hypothetical performance
  • Discuss the expanded scope of the Cash Solicitation Rule and its impact on placement agent activities