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Risk Alert Endorsements Disclosure Requirements

Nelson Mullins Riley & Scarborough LLP

“Marketing Rule” Risk Alert for Investment Advisers: SEC Flags Testimonials, Endorsements, and Third-Party Ratings

On December 16, 2025, the U.S. Securities and Exchange Commission Division of Examinations issued a new Risk Alert providing guidance to registered investment advisers (“RIAs” or “advisers”), investors, and other market...more

Stark & Stark

SEC’s Observations on Advisers’ Compliance with Marketing Rule

Stark & Stark on

The Securities and Exchange Commission’s Division of Examinations (the “Division”) issued a Risk Alert titled “Additional Observations Regarding Advisers’ Compliance with the Advisers Act Marketing Rule.”...more

Seward & Kissel LLP

The New Investment Adviser Marketing Rule: Implications for CLO Managers and Arrangers

Seward & Kissel LLP on

On December 20, 2020, the SEC adopted reforms under the Advisers Act which modernized rules that govern investment adviser advertising and payments to solicitors. On September 19, 2022, the SEC Division of Examinations...more

Goodwin

Practical Guide to the Application of the Marketing Rule to Private Fund Placement Agents

Goodwin on

This article focuses on how the new Rule 206(4)-1 (the “Marketing Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) affects the relationships between investment advisers registered with the U.S. Securities...more

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