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AIMA guide on SEC Marketing Rule offers practical approach to implementation

On 2 November, AIMA is hosting a webinar to launch its Implementation Guide to the SEC’s modernised Marketing Rule.  

The guide was produced with the assistance of AIMA partners ACA Group and Dechert LLP, drawing on their expertise in investment advisory consulting and legal representation.

Unlike a traditional manual to memorialise the 430-page Rule, which was published on 22 December, 2020, the Guide is designed to provide a concise overview of the requirements under the new Marketing Rule, serving as a more practical resource for AIMA members as they navigate the new regime.  Focusing on the most common areas of concern for investment advisers and the most notable changes in the new Rule, the Guide then distils the Rule into more concise form, providing practical guidance in an easy-to-use form. Definitions are broken down to identify what does and does not qualify, absolute requirements are identified, considerations for principle-based decisions are reviewed, checklists are provided and real-world examples are used – all in a manner that should prove useful to seasoned practitioner and layperson alike. 

Following launch of the Guide, AIMA will offer educational programming to more deeply explore specific elements of the Rule, continuing in its objective to provide members with practical, useful tools to address the ever-changing regulatory landscape.

“This Guide is a refreshing take on traditional manuals, offering practical, easy-to-use guidance on what remains a complex topic. AIMA spent more than a year engaging with the SEC on behalf of members during the comment period to ensure their concerns were heard. In listening to those concerns, it was clear that we also had to provide relatable guidance that could be quickly understood by all levels of staff,” says Jack Inglis, CEO, AIMA

“Since the day the New Marketing Rule was approved, ACA has been entrenched in the day-to-day concerns of firms working to understand its nuances, update policies, and prepare to present performance in line with the new rule. We’ve found through the Marketing Rule gap analyses we’ve performed for our clients, there are many updates to consider and it has become clear that making the necessary changes cannot happen overnight. We’re pleased to have partnered with AIMA and Dechert on this guide which will help to provide a strong foundation for firms to stand upon,” says Carlo di Florio, Chief Services Officer, ACA Group

“It’s been a pleasure working with AIMA and ACA on this guide. We hope that asset managers will find it a helpful and practical tool in navigating this important regulatory development,” says Karen Anderberg, Partner, Dechert LLP.

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