Investment Adviser Advertising Rule: New SEC Guidance and Best Practices for Compliance
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine Rule 206(4)-1 of the Investment Advisers Act of 1940 (the Advertising Rule) and key issues recently identified by the SEC’s Office of Compliance Inspections and Examinations (OCIE) in its examination of investment adviser marketing practices. The panel will discuss advertising and promotional practices to avoid and the potential consequences for noncompliance.
Outline
- Rule 206(4)-1 of the Investment Advisers Act of 1940 (the Advertising Rule)
- Activities covered—print, audio, video, in person
- Penalties for noncompliance
- Compliance issues identified in the OCIE’s Risk Alert
- Misleading use of third-party rankings or awards
- Misleading use of professional designations
- Misleading performance results
- Misleading one-on-one presentations
- Misleading claims of compliance with voluntary performance standards
- Other
- Best compliance practices
Benefits
The panel will review these and other key issues:
- What are the underlying tenents of the Advertising Rule and why is it an enforcement priority for the SEC?
- What types of marketing deficiencies were repeatedly identified in the OCEI’s recent Risk Alert?
- What kinds of policies and procedures should an investment adviser put in place to ensure compliance with the Advertising Rule?
Faculty
Michael K. Renetzky
Partner
Locke Lord
Mr. Renetzky's practice focuses on investment management, securities and corporate law. He has considerable... | Read More
Mr. Renetzky's practice focuses on investment management, securities and corporate law. He has considerable experience counseling clients on securities law compliance, debt and equity financing matters, investment adviser, investment company and broker-dealer regulation. Additionally, he devotes a substantial portion of his time to representing buyers and sellers in mergers and acquisitions transactions. He frequently counsels boards of directors and assists clients with governance matters.
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Tom Bohac
Locke Lord
Mr. Bohac’s practice focuses on securities, investment management, and corporate law. He has experience... | Read More
Mr. Bohac’s practice focuses on securities, investment management, and corporate law. He has experience counseling clients on issues arising under the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and various state securities laws.
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Matthew J. Kutner
Shearman & Sterling
Mr. Kutner advises investment companies, including open-end, exchange-traded funds and unit investment trusts,... | Read More
Mr. Kutner advises investment companies, including open-end, exchange-traded funds and unit investment trusts, investment advisers and boards of trustees on a variety of legal, business, compliance and transactional matters arising under the Investment Company Act of 1940, the Investment Advisers Act of 1940 and other applicable laws and regulations. He also advises operating companies on investment company status issues, and is a frequent writer on legal and regulatory topics and best practices within the investment management industry. He also counsels clients on a range of SEC regulatory matters, including exemptive order applications, interpretive and no-action letters, and in response to issues raised by the SEC staff during examinations.
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