Performance Advertising and Marketing: How to Avoid Common Pitfalls and Deficiencies
2:50 PM – 4:00 PM
Thursday, May 17
This panel will discuss the parameters within which investment advisers may market and advertise their investment advisory services and products. The specific prohibitions of the "advertisement rule" under the Investment Advisers Act of 1940 will be examined, particularly the prohibition of past specific recommendations, with discussion of specific SEC staff no-action letters and their practical application to the creation of investment adviser marketing materials. In addition to specific prohibitions, the complex rules and guidance regarding performance advertising will be explored, highlighting the progeny of SEC no-action letters in the performance marketing area. Additional guidance on how to avoid running afoul of the general antifraud rule under the Advisers Act will be explored to further equip compliance and marketing personnel to produce compliant marketing materials and advertisements.
In addition to the advertisement and general antifraud rules, the panel will also address the marketing of private funds and how Advisers Act and private placement rules may overlap and relate to one another. Recordkeeping is also an important consideration in the investment adviser marketing world, particularly when performance is presented, and such requirements will be part of the discussion. Finally, the panelists will discuss a general overview of the Global Investment Performance Standards (GIPS), a voluntary set of ethical principles relating to the presentation of adviser performance, which have over recent years has become a focus of the SEC when examining advisers claiming compliance with GIPS.
Back to the Agenda