SEC Marketing Rule Is Hottest Compliance Topic for Second Year: Survey

For the second year, compliance officers at advisory firms say the Securities and Exchange Commission’s marketing rule is their No. 1 chore, according to the Investment Adviser Association’s just-released 2022 Investment Management Compliance Testing Survey.

Advertising/Marketing was identified by 78% of survey respondents as the “hottest” compliance topic — up 20 percentage points from last year, the report said.

The SEC recently launched an email campaign reminding registered investment advisors about the upcoming Nov. 4 compliance date for the amended marketing rule — and steps they’ll need to take to comply.

Cybersecurity followed with 67% while climate change/ESG climbed to third in compliance officers’ list of hot topics, named by 50% of respondents.

The Investment Management Compliance Testing Survey is a joint project of the IAA, ACA Group and Yuter Compliance Consulting.