The Most Frequent Advertising Rule Compliance Issues Identified

Below are the most frequent deficiencies that OCIE staff has identified in connection with failure to comply with the Advertising Rule:

  • Misleading Performance Results
  • Misleading One-on-One Presentations (did not disclose that the advertised performance results, did not reflect the deduction of advisory fees, and that client returns would be reduced by such fees and other expenses)
  • Misleading Claim of Compliance with Voluntary Performance Standards
  • Cherry-Picked Profitable Stock Selections
  • Misleading Selection of Recommendations

Please find attached a link for the full report Misleading Advertisements

Please be aware, and be skeptical about marketing materials.