This session will consist of two parts. The first will focus on SEC Examination Updates from the Chicago Regional Office at 2-3 p.m. The second will focus on Performance Advertising: Hypothetical Performance and GIPS at 3-4 p.m.
Performance Advertising: Hypothetical Performance and GIPS
Marketing, and particularly performance marketing, by financial services firms is now – more than ever- at the forefront of regulatory scrutiny due to the landmark SEC marketing rule amendment that went into effect in 2022. Investment advisers have struggled to balance availing themselves of certain new freedoms offered by amendment, while also complying with equally important constraints posed by the revised rule. Performance marketing has also been a focal point of the Global Investment Performance Standards (GIPS) with many firms striving to comply with both the Marketing Rule and GIPS. In this presentation, we provide information about both frameworks (GIPS and performance marketing under the SEC marketing rule) as well as a comparison between the main requirements of each.
Learning Objectives
- What are the changes to performance advertising under the revised SEC marketing rule
- What is allowed and what is prohibited under GIPS
- What is allowed and what is prohibited under the SEC marketing rule
- How can a financial services firm comply with both regulatory regimes
For Whom: Chief Compliance Officers, Management Compliance Staff at all levels, Legal Counsel, Trading Personnel Persons involved with monitoring client portfolios
Suggested Skill Level: Intermediate
Instructional Method: Live In-person Session
Pre-requisites for participation: No prerequisites are required. However, attendees can benefit by reviewing the Investment Advisers Act of 1940 to become familiar with the structure and terms.
Advance Preparation: None
Continuing Education Credits
COMPLY Continuing Education Guide
Recommended IACCP® CE Credit: 2
Recommended CPE Credit: 2 in the Regulatory Ethics field of study
Recommended CA MCLE Credit: 2