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July 08, 2011 at 05:00 AM
The Third Party Marketers Association (3PM) has launched a State Compendium to help its members sift through the scads of rules, regulations and prohibitions that apply to them when working in various states.
The state compendium covers the marketing rules that third party marketers must follow when marketing to all public entities, including pension funds.
“The regulatory environment for third party marketers is changing and changing fast,” Stacey Havener, 3PM’s president, told AdvisorOne. The challenge, she says, is that “there is no cohesion” among states’ regulations for third-party marketers.
As it stands now, the compendium covers California, Florida, Georgia, Hawaii, Illinois, Kentucky, New Jersey, New Mexico, New York, North Carolina, Ohio and Wisconsin. Havener says 3PM the compendium is a collection of “field insights” gathered by third party marketer practitioners about what regulatory changes are taking place in each state. She expects the compendium to be updated on a quarterly basis.
The association held a webcast on June 28 titled “The State of the States: Insight into the current regulatory environment for 3PMs”—which is the first in a series to introduce the compendium to its members.
