Correspondence and Advertising

What this video covers

• When a state Administrator can require advertising and sales literature to be filed, and exactly which three categories of securities and transactions are carved out of that power
• How the SEC Marketing Rule defines "advertisement" and the two buckets of third-party praise (testimonials versus endorsements), plus the disclosure requirements for each
• The de minimis compensation threshold that exempts paid promoters from the written-agreement requirement, and why disclosure of payment is still mandatory
• Why cherry-picking time periods, extracted performance, and gross performance without equally or more prominent net performance are all prohibited under the Marketing Rule
• The equal-prominence requirement for one-, five-, and ten-year performance periods when showing composite or portfolio results
• Why Registered Investment Adviser (RIA) and Investment Adviser Representative (IAR) are statements of registration status, not professional designations you can append to your name like CFA or CFP
• How the content-decides-the-rule principle applies to texts, social media, and websites, and why marketing records must be kept five years with the first two in an easily accessible appropriate office