On December 22, 2020, the United States Securities and Exchange Commission (the “SEC”) announced that it was adopting amendments (collectively, the “Marketing Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act” or the “Act”) to update rules that govern investment adviser marketing. The Marketing Rule will create a unified regulatory framework to replace both the advertising rules and cash solicitation rules currently in effect. The goal of the Marketing Rule is to provide investment advisers, FinTech firms, fund managers, and other financial services professionals with comprehensive guidance to allow them to efficiently manage their marketing communications.
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