Last December, the SEC adopted significant amendments to its existing rules under the Investment Advisers Act governing advertising by investment advisers and cash payments to solicitors.

As a result of these amendments, as of May 4, 2021, there will be a single rule—new Rule 206(4)-1—which more comprehensively addresses requirements and prohibitions relating to investment adviser marketing and solicitation activities.

Compared against longstanding SEC rules and guidance in this area, new Rule 206(4)-1 reflects an updated regulatory approach along multiple dimensions, including, but not limited to:

  • The SEC adopted significant amendments to existing rules governing advertising by investment advisers under the Investment Advisers Act.
  • As of May 4, 2021 the new rule will more comprehensively addresses requirements and prohibitions relating to investment adviser marketing and solicitation activities.
  • The panel examined the new rule and what it means for loan market investment advisers, including:
    • An amended definition of “advertisement” that captures both communications traditionally covered under the old rules but also solicitation activities (including solicitation for which non-cash compensation is paid);
    • Permission to use testimonials and endorsements, provided certain conditions are met;
    • Certain new expressly stated general prohibitions on certain advertising practices; and
    • Explicit prohibitions and guidance with respect to presentation of performance information.

EVENT DETAILS

Tuesday, May 11, 2021
4PM to 5PM (ET)|Webcast Only
Presentation, Replay and Recap| Now Available | Scroll Down to View
1 CLE Credit Will Be Issued

SPEAKERS

  • David Dickstein, Partner, Katten Muchin & Rosenman LLP
  • Richard Marshall, Partner, Katten Muchin & Rosenman LLP
  • Amanda Segal, Partner, Katten Muchin Rosenman LLP
New Investment Adviser (May 11 2021)

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