Investment Management, Trading & Markets Updates – January 2021 | Alston & Bird
SEC Final Rule on Modernized Marketing for Investment Advisers On December 22, 2020, the Securities and Exchange Commission (SEC) passed a final rule to modernize marketing under the Investment Advisers Act of 1940, as amended. The amendments create a single rule that replaces the current advertising and cash solicitation rules, Rule 206(4)-1 and Rule 206(4)-3, respectively. The staff of the Division of Investment Management also expects to withdraw no-action letters and other guidance that previously applied to the advertising and cash solicitation rules. Additionally, the SEC has made relat...
Source: jdsupra.com