Law stated as of 01 Feb 2022 • USA (National/Federal)
This Practice Note discusses the Securities and Exchange Commission (SEC)'s regulation of advertising by investment advisers under the Investment Advisers Act of 1940, including specific advertising prohibitions in Rule 206-4(1) under the Advisers Act and current SEC staff interpretations concerning these prohibitions, particularly those pertaining to performance advertising. This Note also discusses record-keeping requirements applicable to advertising under the Advisers Act.