SEC’s marketing rule is a heavy lift for compliance (ThinkAdvisor)

How investment advisers approach compliance for the new Marketing Rule will help set the stage for what actions the SEC may or may not take against firms. In lead comments, Amy Lynch, FrontLine’s Founder and President, states that firms need to understand there is more to compliance with the rule than updating firm marketing and advertising policies. Ms. Lynch explains that for advisers just now starting the compliance process, it can be a heavy lift as several areas need to be addressed and changes may need to be made to marketing materials and solicitation practices. The SEC believes it has provided ample time for the industry to be in compliance, and Ms. Lynch sees firm deficiencies to be the first call to action by the SEC, with enforcement cases further down the road following the issuance of more guidance. See ThinkAdvisor, “Move Now on SEC Marketing Rule Compliance, Pros Warn”