SEC Proposes Changes to Advertising and Cash Solicitation Rules for Investment Advisers

The SEC has issued a proposed rule, Investment Adviser Advertisements; Compensation for Solicitations.

The proposal would amend rules under the Investment Advisers Act of 1940 that “prohibit certain investment adviser advertisements and payments to solicitors.” The proposed amendments would “reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of industry practices.”

Comments on the proposed rule are due 60 days after the date of its publication in the Federal Register. For more information, see the press release on the SEC’s Web site.