For the second 12 months in a row, advisors have named compliance with the Securities and Trade Fee’s advertising and marketing rule as their No. 1 chore.
That’s in accordance with the newest 2002 Funding Administration Compliance Testing Survey, performed by the Funding Adviser Affiliation, ACA Compliance and Yuter Compliance Consulting.
Promoting/advertising and marketing was recognized by 78% of survey respondents because the “hottest” compliance matter — up 20 share factors from final 12 months. (Respondents had been allowed to decide on multiple reply.)
Compliance professionals at 425 funding advisory corporations participated within the survey. All agency sizes had been represented.
When requested their anticipated timeframe for complying with the brand new SEC Advertising and marketing Rule, 69% of the corporations stated on or shortly earlier than the Nov. 4 compliance date; 10.86% stated they’re already complying; and 16.29% stated they’re “gearing as much as comply effectively upfront of the compliance date.”
Learn the gallery above for the opposite high compliance challenges for advisors this 12 months.