November 18, 2021
When the SEC adopted the Marketing Rule, it rescinded the Cash Solicitation Rule as of the Marketing Rule’s compliance date and stated that the staff no-action letters that address that rule are to be nullified. With the SEC adoption of the new Marketing Rule, they are withdrawing certain statements in connection with the Advertising and Cash Solicitation Rules. The withdrawals will be effective as of November 4, 2022, the compliance date of the new Marketing Rule.
WHAT DOES THIS MEAN FOR ME?
If you adopt the new marketing rule ahead of the compliance date, you will solely be following the new rule.
To learn more and see a list of no-action letters to be rescinded click here.