Testimonial Statements

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FTC Issues Updated Guidance on Endorsements Compliance

Companies should revisit their policies for influencer programs for compliance with the updated guidance. Online advertising and promotion first attracted the attention of the Federal Trademark Commission (FTC) in 2009....more

The Guide to Social Media and the Securities Laws

The growing use of social media has created challenges for federal securities regulators, who must enforce antifraud rules that were written at a time when the prevailing technology was the newspaper. This Guide...more

Getting the Deal Through - Advertising and Marketing 2015: Canada

Legislation and Regulation - What are the principal statutes regulating advertising generally? The principal federal statute regulating advertising in Canada is the Competition Act, which is a law of general...more

Q: What’s Different About the FTC’s New Endorsement Q&As? A: Lots.

The FTC recently released a new version of its Q&As on the Endorsement Guides. The old Q&As, released in 2010, were about seven pages long. The new ones just about double that. The revisions and additions reflect many of the...more

FTC updates Q&A on Endorsement Guides – changes affect all types of media and endorsement: 5 takeaways

For the first time since 2009, the FTC has updated the Q&A on its Endorsement Guides. The Endorsement Guides represent administrative interpretations of laws enforced by the FTC, specifically the applicability of Section 5...more

Updated FTC Guidance on Endorsements and Testimonials in Social Media Advertising – Does Your Advertising Pass Muster?

In recent years, companies have increasingly relied on social media platforms to promote their products, often featuring testimonials and endorsements from consumers and public figures as well as other user-generated content....more

AdCode 2.0: Better Business Bureau Updates Advertising Code to Keep Up With Technology

The Better Business Bureau announced last Thursday that it has amended its Code of Advertising to address the new and evolving ways in which advertisers reach consumers through technology. The Better Business Bureau is the...more

SEC “Likes” Social Media for Investment Advisers

The SEC staff views social media as a useful tool that helps consumers conduct their own due diligence on investment advisers. In a recent Investment Management Guidance Update, the staff stated that, under certain...more

"SEC Issues New Guidance for Investment Advisers Regarding Use of Social Media Testimonials"

On March 31, 2014, the Division of Investment Management (the “Division”) of the Securities and Exchange Commission (the “SEC”) issued long-awaited guidance regarding investment advisers’ use of public commentaries on social...more

FTC Sends Warning About Using Social Media With Promotions

The Federal Trade Commission (FTC) recently investigated whether Cole Haan’s “Wandering Sole” social media contest violated Section 5 of the FTC Act, which prohibits deceptive practices. In doing so, the FTC issued a...more

SEC Issues Guidance Update on Social Media Commentary in Investment Adviser Advertising

The staff of the Division of Investment Management (Staff) of the Securities and Exchange Commission (SEC) has issued an IM Guidance Update (Guidance Update) on the use of social media in investment adviser advertising. The...more

SEC Staff Provides Guidance for Advisers Using Social Media on Compliance with General Prohibition on Testimonials

The staff of the SEC’s Division of Investment Management (the “Staff”) issued IM Guidance Update No. 2014-4 discussing how a registered adviser or its investment advisory representatives (“IARs”) may use public commentary...more

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