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ARTICLE · 06 JANUARY 2023

Massachusetts Issues Marketing Rule Reminder

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On November 4, 2022, the U.S. Securities and Exchange Commission (the "SEC") began enforcing its updated advertising requirements for federally registered advisers.

United StatesMedia, Telecoms, IT, Entertainment
Robert Sawyer
Robert Sawyer
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Key Takeaways:

  • The Massachusetts Securities Division has issued guidance for investment advisers registered in the Commonwealth of Massachusetts regarding the updated advertising rule's requirements.
  • The related changes to the record keeping rule have implications for the policies and procedures of state-registered investment advisors.

On November 4, 2022, the U.S. Securities and Exchange Commission (the "SEC") began enforcing its updated advertising requirements for federally registered advisers. Those rules, described in greater detail here, represented a significant change to the rules and regulations governing the marketing and solicitation of investment advisory services. In December 2022, the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth issued guidance for advisers registered in the Commonwealth of Massachusetts to remind them of their obligations under the Massachusetts Uniform Securities Act, Mass. Gen. Laws

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