Correspondence and Advertising
Chapters in this video
- 0:00 One recipient versus two: the advertisement trigger
- 1:18 The seven general prohibitions and fair-and-balanced risk
- 2:22 SEC-registered versus state-registered testimonial rules
- 3:21 The $1,000 compensated promoter written agreement threshold
- 3:55 Third-party ratings: neutrality and disclosure requirements
- 4:19 The 1-5-10 performance advertising year rules
- 4:45 RIA status versus earned designations exam trap
- 5:58 State administrator filing and stop order authority
- 6:51 Rapid-fire exam recap
What this video covers
- When a communication crosses from one-on-one correspondence to regulated advertisement, and why adding a second recipient changes everything
- The seven general prohibitions under the Securities and Exchange Commission (SEC) Marketing Rule, including fair-and-balanced risk disclosure and the ban on misleading implications
- Why testimonials and endorsements are permitted for SEC-registered investment advisers (IAs) but generally still prohibited for state-registered IAs
- The dollar threshold and written agreement requirement for compensated promoters, and what oversight and disqualification rules apply
- How third-party ratings must come from neutral, independent sources with full methodology, time period, and compensation disclosures
- The 1-, 5-, and 10-year performance advertising rules requiring net performance alongside gross performance with equal prominence
- Why RIA is a registration status, not an earned designation, and other credential-versus-status traps that show up on the exam
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 65 course also includes adaptive practice questions and spaced-repetition flashcards, free through December 31, 2026.