News | 11.04.19
SEC Readies Updates to RIA Ad Rules
The SEC's Division of Investment Management (IM) is set to consider whether to propose amendments under the Advisers Act of 1940 to rules that prohibit certain investment-advisor advertisements and payments to solicitors. The SEC Advertising Rule “hasn't been significantly amended since 1961 — long before social media, long before the internet, even before fax machines,” Karen Barr, president and CEO of the Investment Adviser Association, said. Dalia Blass, head of the SEC's IM division, said earlier this year that she anticipated the division would present “recommendations for a proposal on modernizing the advertising and solicitation rules” for investment advisors soon.
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