The New SEC Advertising Rule
The U.S Securities and Exchange Commission (SEC), on December 22, 2020, approved the new advertising rule. It improves the rules that govern investment adviser advertisements and payments to solicitors. It took effect on May 4, 2021. The new rule connects two laws: the current advertising rule, Rule 206(4)-1, and the cash solicitation rule, Rule 206(4)-3. These rules are under the 1940 Investment Advisers Act. This is the first important revision to those rules since 1961. Th