SEC Ad Rule To Take Effect in May
After some doubt, the SEC's final rule allowing client testimonials will go into effect May 4. "I’m sure there’ll be people who want to press it and hit the gas pedal."
The SEC’s rule on marketing and advertising will officially go into effect on May 4, after
being published in the Federal Register Friday morning. The publication of the new rule governing how and when advisors can use testimonials and endorsements in advertising comes more than two months after the
The rule updates were intended to modernize “traditional advertising and solicitation regimes, which have not been amended for decades,” despite advances in fintech and financial markets, according to former Chair Jay Clayton, who announced the finalized changes on Dec. 22 of last year.