11.15.22
SEC Officials Tell Advisors To Put Clients’ Interests First, Tell Truth in Ads
by: Mark Schoeff Jr.
At the recent U.S. Securities and Exchange Commission’s (SEC) virtual Investment Advisor/Investment Company National Compliance Seminar, SEC officials emphasized the basics for complying with investment advice regulations and the new marketing rule: put clients’ interests first and don’t mislead them when touting your firm. SEC staff provided direction for the audience of compliance professionals on how to ensure that their firms stay aligned with agency rules, including Regulation Best Interest, the broker-dealer standard of conduct, the fiduciary standard for investment advisors and the advertising rule, which went into effect on November 4. SEC Chair Gary Gensler urged the audience to be “good counselors” at their firms by helping their colleagues adhere to securities regulations.
Read the full article on InvestmentNews