SEC Rule 206(4)-1 (effective November 2022), governing how investment advisers advertise and market their services. The rule requires that advertisements not be misleading, that performance presentations include both gross and net returns, that testimonials and endorsements include specified disclosures, and that hypothetical performance is appropriately presented.
The rule replaced the prior advertising rule and cash solicitation rule.
This article is for informational purposes only and does not constitute legal advice. Consult qualified professionals for guidance specific to your situation.