SEC Adopts New Marketing Rule for Investment Advisers
The Securities and Exchange Commission (the “SEC”) adopted, on December 22, 2020, a new Rule 206(4)-1 (the “New Marketing Rule”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). The New Marketing Rule replaces both the existing Rule 206(4)-1, known as the advertising rule, and Rule 206(4)-3, known as the “solicitation rule”.