Confused about how the new SEC marketing rule differentiates between third-party ratings, testimonials, and endorsements? Get some clarity here.
Check out the ways artificial intelligence and machine learning are playing increasingly important roles in fintech and regtech.
Need help understanding what types of hypothetical performance are permitted by the new SEC marketing rule? Read on.
Get insights into the unique challenges CCOs face and tips for rethinking RIA compliance through the Framework for CCO Liability in the Financial Sector.
Learn about the requirements and restrictions for performance advertising under the new SEC marketing rule.
Learn about major pitfalls investment advisers should avoid when using compliance technology and practical implementation strategies.
Confused about which testimonials and endorsements the new SEC marketing rule permits? Get the plain facts here.
Learn about Eric Powell's advice for financial advisers in leveraging compliance technology to grow their business and build trust with clients.
Our last post on the new SEC marketing rule covered some basics, including the newly expanded definition of advertising and the seven general prohibitions that apply to all ads. In this post, we describe key ways technology can be leveraged to implement the new rule. Upcoming posts in this series will examine testimonials and endorsements, presentation of performance results, third-party ratings, record-keeping and Form ADV requirements, review and approval of advertisements, and overall best practices.
We were fortunate to sit down with Eric Powell, founder of RightPlan Financial and the Future Mill, to discuss what registered investment adviser (RIA) firms can do for their clients, what it means to build trust, how to leverage technology to manage compliance, and other fun stuff like what roles firefighters and personal trainers play in the financial services industry.
The new SEC marketing rule calls to mind the Peter Parker principle: "With great power comes great responsibility." (Any Spider-Man fans out there?) The marketing rule consolidates two outdated rules and accounts for updated technology, like social media. It was a long time coming, providing a much-needed update to advertising regulations in place since 1961 and cash solicitation rules in place since 1979. Now, advisers can choose whether to implement the rule on or after the effective date of May 4, 2021, or wait until the compliance date of November 4, 2022. But here's the catch: advisers who act now must comply with the rule in its entirety; that is, no cherry-picking some rule requirements and ignoring others. It’s a big decision, and advisers aren’t taking it lightly.
Think back to when you were a kid. You could take the time to learn new skills. Responsibilities were minimal. Everything seemed possible. Now, time is a valuable commodity. Responsibilities compound. And it often feels impossible to keep up with everything you need to do. For chief compliance officers (CCOs), busy schedules and paperwork pileups can be debilitating. These pitfalls can easily erode the hard work you consistently put into your business.