The revamped Marketing Rule from the SEC, which became effective in May 2021, introduced new advertising opportunities for advisors but required more transparency and context in their promotional materials.
Compliance with the SEC's Marketing Rule has emerged as one of the top concerns for advisors, leading to significant fines for firms that failed to adhere to its requirements.
Recently, the SEC imposed fines totaling over $1.2 million on nine investment advisory firms for alleged violations of the new Marketing Rule, emphasizing the importance of compliance.
The fines highlight that, while the new rule allows for innovative advertising strategies, it still requires advisors to maintain compliance to avoid serious penalties.
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