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December 10, 2020 at 02:19 PM
SEC headquarters in Washington. (Photo: Diego Radzinschi/ALM)
The Securities and Exchange Commission plans to take up Wednesday long-awaited changes to its advertising and marketing rules.
(Related: Updates to Custody, Ad Rules Nearing the Finish Line)
The commission will consider whether to adopt amendments under the Investment Advisers Act of 1940 to update rules that govern investment advisor marketing “to accommodate the continual evolution and interplay of technology and advice, while preserving investor protections,” the agency said.
Amendments to Form ADV, the agency said, will also be considered to provide the commission with additional information about advisors’ marketing practices, and corresponding amendments to the books and records rule under the Advisers Act.
Karen Barr, president and CEO of the Investment Adviser Association in Washington, told ThinkAdvisor on Thursday in an email that IAA is “pleased to see that the SEC will be able to adopt rules before year-end to modernize the advertising rules for advisors — which have not been updated substantively since 1961.”
