News & Insights: Marketing & Social Media

SEC Updates Marketing Rule FAQ

On March 19, 2025, the SEC updated its Marketing Rule FAQ with new guidance on extracted performance and information on how to navigate the performance versus investment characteristic question.

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SEC Updates Marketing Rule FAQ

On March 19, 2025, the SEC updated its Marketing Rule FAQ with new guidance on extracted performance and information on how to navigate the performance versus investment characteristic question.

SEC Marketing FAQ: Net IRR Guidance for Private Funds

On February 6, 2024, the SEC updated its Frequently Asked Questions page for the new Marketing Rule. The page now has four questions and four answers, which provide clarity on items such as the compliance date of November 4, 2022, and an adviser’s ability to comply early; the prescribed time period requirement and conditions on the use of interim performance information; presenting performance of one investment or group of investments in a private fund; and calculation of gross and net performance.

Nine Advisers Charged with Hypothetical Performance Violations

On September 11, 2023, the SEC announced charges against nine registered investment advisers for advertising hypothetical performance to a mass audience on their websites without meeting the requirements of the Marketing Rule. All nine firms have agreed to settle and will pay penalties ranging from $50,000 to $175,000.

SEC Examination Requests Regarding New Marketing Rule Compliance

The SEC has begun requesting more information in exams to assess compliance with the new Marketing Rule.

The New Marketing Rule: Part 7 – Third Party Ratings

The new rule allows firms to use third-party ratings in their marketing materials, provided that their use complies with the general prohibitions and provides the required disclosures.

The New Marketing Rule Part 6 – Categories of Performance and Their Requirements

Our series of Flash Reports addresses common questions RIAs may have about the new rule and its impact on compliance. If you have questions, we can help.

The New Marketing Rule Part 5 – Challenges for Performance Advertising

The new SEC Marketing Rule provides new guidance on performance advertising. Find out what you need to know, and how it may impact your compliance program.

The New Marketing Rule Part 4 – Implications for Social Media

The new SEC Marketing Rule may bring changes to RIAs’ compliance programs. If you have any questions or need help, contact Fairview.

The New Marketing Rule Part 3 – General Prohibitions

The new SEC Marketing Rule will bring changes to RIA compliance programs. If you have questions or need help navigating the new rule, contact us today.

The New SEC Marketing Rule Part 2 – What are Testimonials and Endorsements?

The new SEC Marketing Rule provides guidance on the usage of testimonials and endorsements. If you have questions about the rule, contact us today.

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