Essential ETF Marketing Compliance Checklist For Asset Managers

ETF marketing compliance represents a critical framework that ensures exchange-traded fund issuers, asset managers, and their marketing partners adhere to SEC, FINRA, and other regulatory requirements while promoting investment products. This comprehensive checklist system helps institutional finance brands navigate complex advertising rules, disclosure requirements, and risk communication standards that govern ETF marketing activities.

Key Summary: ETF marketing compliance checklists provide systematic frameworks for asset managers to ensure all promotional materials, digital campaigns, and advisor communications meet regulatory standards while effectively reaching target audiences through compliant messaging strategies.

Key Takeaways:

• ETF marketing must comply with SEC Investment Company Act rules and FINRA advertising regulations
• All performance data requires specific disclaimers and risk warnings in promotional materials
• Social media and influencer campaigns need pre-approval and ongoing monitoring systems
• Compliance documentation must be maintained for regulatory examination purposes
• Third-party marketing partnerships require contractual compliance oversight provisions
• Regular compliance training ensures marketing teams understand evolving regulatory requirements

This article explores ETF marketing compliance within the broader context of comprehensive ETF marketing strategy, providing asset managers with actionable frameworks for maintaining regulatory compliance while driving AUM growth and advisor adoption.

What Are the Core Regulatory Requirements for ETF Marketing?

ETF marketing operates under multiple layers of federal securities regulation, primarily governed by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). These requirements establish strict standards for how asset managers can communicate performance, risks, and investment features to both retail and institutional audiences.

The foundational regulatory framework centers on truthful, balanced communications that avoid misleading investors about ETF characteristics, performance expectations, or risk profiles. Marketing materials must present information in context, ensuring that positive performance data includes appropriate risk disclosures and disclaimers about future results.

Primary regulatory areas include:

• Performance advertising standards: SEC rules requiring standardized performance calculations, benchmark comparisons, and time period specifications
• Risk disclosure requirements: Mandatory warnings about principal loss, market volatility, and sector-specific risks for thematic ETFs
• Fair and balanced presentation: FINRA principles requiring marketing materials to present risks alongside benefits
• Approval and recordkeeping: Requirements for pre-approval of marketing materials and maintenance of compliance documentation
• Third-party endorsements: Rules governing testimonials, ratings, and influencer partnerships in ETF promotion

Investment Company Act of 1940: Federal legislation that regulates mutual funds and ETFs, establishing standards for advertising, performance reporting, and investor communications. The Act requires registered investment companies to file marketing materials with regulators and maintain specific disclosure standards. Learn more

How Do SEC Rules Impact ETF Performance Marketing?

SEC regulations establish specific standards for how ETFs can present performance data in marketing materials, requiring standardized calculations and comprehensive risk disclosures. These rules ensure investors receive consistent, comparable information across different fund families and distribution channels.

Performance marketing compliance centers on accurate representation of returns, appropriate benchmark comparisons, and clear communication about the relationship between past performance and future results. Asset managers must use standardized methodologies for calculating returns and present data in formats that facilitate investor comparison.

Key SEC performance marketing requirements:

• Standardized performance periods: One-year, five-year, and since-inception returns using specific calculation methodologies
• Benchmark disclosure: Clear identification of comparison indices and explanation of their relevance to ETF strategy
• Fee impact presentation: Performance data must reflect actual fees and expenses paid by investors
• Tax considerations: After-tax performance disclosure for taxable accounts where material
• Volatility metrics: Standard deviation or other risk measures when performance data is prominent
• Current performance updates: Regular updating of performance data to maintain accuracy

Agencies specializing in financial services marketing, such as WOLF Financial, build performance data validation into every campaign to ensure calculations meet SEC standards and risk disclosures accompany all return information.

What FINRA Rules Govern ETF Advertising and Communications?

FINRA Rule 2210 establishes comprehensive standards for broker-dealer communications about securities, including ETF marketing materials distributed through financial advisor networks. These rules require pre-approval of advertising materials and ongoing supervision of marketing communications across all channels.

The rule distinguishes between different types of communications based on audience size and distribution method, with specific approval requirements for public communications reaching more than 25 retail investors. ETF issuers working with broker-dealer distribution partners must ensure all marketing materials comply with FINRA standards.

FINRA Rule 2210 key provisions:

• Pre-approval requirements: Public communications must receive principal approval before distribution
• Fair and balanced standard: Marketing materials cannot omit material facts or present misleading information
• Prohibition on predictions: Cannot make specific predictions about future performance or market movements
• Recordkeeping obligations: Must maintain copies of all marketing materials and approval documentation
• Supervision requirements: Designated principals must review and approve marketing communications
• Filing obligations: Certain materials must be filed with FINRA within specified timeframes

FINRA Rule 2210: Comprehensive regulation governing broker-dealer communications with the public, including advertising, sales literature, and digital marketing materials. The rule establishes approval processes, content standards, and supervisory requirements for all securities marketing communications. Learn more

How Should Asset Managers Structure ETF Marketing Compliance Programs?

Effective ETF marketing compliance programs require systematic approaches that integrate regulatory requirements into marketing workflows from campaign conception through execution and monitoring. Asset managers must establish clear approval processes, documentation standards, and ongoing oversight mechanisms.

The compliance framework should address both internal marketing activities and third-party partnerships, ensuring that all promotional materials and campaigns meet regulatory standards regardless of the distribution channel or marketing partner involved.

Essential compliance program components:

• Compliance policies and procedures: Written standards covering all marketing activities and approval requirements
• Pre-approval workflows: Systematic review processes for all marketing materials before publication
• Template libraries: Pre-approved marketing templates with built-in compliance language
• Training programs: Regular education for marketing teams on regulatory requirements and updates
• Monitoring systems: Ongoing surveillance of marketing materials and campaign performance
• Documentation protocols: Comprehensive recordkeeping for regulatory examination purposes
• Third-party oversight: Due diligence and monitoring procedures for marketing partners

According to agencies managing compliance oversight for institutional finance campaigns, the most effective programs prioritize prevention through systematic review processes rather than reactive compliance corrections.

What Are the Key Elements of ETF Marketing Material Review?

ETF marketing material review requires systematic evaluation across multiple compliance dimensions, ensuring that all promotional content meets regulatory standards while effectively communicating investment propositions. The review process must address content accuracy, risk disclosure adequacy, and presentation balance.

Effective review protocols examine both explicit compliance requirements and implicit regulatory expectations, evaluating whether marketing materials could mislead investors or create unrealistic performance expectations.

Critical review elements:

• Performance data accuracy: Verification of return calculations, benchmark comparisons, and time periods
• Risk disclosure completeness: Assessment of risk warnings and their prominence in marketing materials
• Claims substantiation: Documentation supporting all factual assertions and competitive comparisons
• Visual presentation balance: Evaluation of charts, graphs, and design elements for fair representation
• Regulatory language inclusion: Verification of required disclaimers and disclosure statements
• Target audience appropriateness: Assessment of content suitability for intended investor audience

Material Review Checklist: Systematic evaluation framework ensuring ETF marketing materials meet regulatory standards through comprehensive content, performance data, risk disclosure, and presentation analysis before publication or distribution.

How Do Social Media and Digital Marketing Compliance Requirements Differ?

Social media and digital marketing channels present unique compliance challenges for ETF issuers due to character limitations, real-time interaction requirements, and platform-specific content formats. Regulatory requirements apply equally to digital channels, but implementation requires adapted approaches for different platforms and content types.

Digital compliance frameworks must address both proactive content creation and reactive engagement, ensuring that social media responses, comments, and interactions maintain regulatory standards while enabling authentic audience engagement.

Digital marketing compliance considerations:

• Character limit adaptations: Abbreviated disclaimers that meet regulatory intent within platform constraints
• Linked disclosure systems: Strategies for directing audiences to comprehensive risk information
• Real-time monitoring: Surveillance systems for comments, shares, and audience-generated content
• Influencer oversight: Compliance protocols for third-party content creators and brand partnerships
• Platform-specific policies: Adapted procedures for LinkedIn, Twitter, YouTube, and other marketing channels
• Crisis response protocols: Procedures for addressing compliance issues in viral or negative content

Specialized agencies maintain compliance frameworks across digital platforms, enabling ETF issuers to leverage social media marketing while meeting regulatory obligations through systematic oversight and platform-specific procedures.

What Documentation Standards Apply to ETF Marketing Compliance?

ETF marketing compliance documentation must provide comprehensive records supporting regulatory compliance across all promotional activities and materials. Documentation standards ensure that asset managers can demonstrate compliance during regulatory examinations and maintain accountability for marketing decisions.

The documentation framework should capture both the compliance review process and the substantive basis for marketing claims, creating an audit trail that supports regulatory examination and internal compliance monitoring.

Required documentation categories:

• Approval records: Documentation of principal review and approval for all marketing materials
• Performance calculations: Detailed records supporting all return data and benchmark comparisons
• Risk analysis documentation: Assessment of risks disclosed and rationale for disclosure approaches
• Third-party agreements: Contracts with marketing partners including compliance obligations
• Training records: Documentation of staff compliance education and competency assessment
• Monitoring logs: Records of ongoing surveillance and compliance issue resolution
• Regulatory correspondence: Communications with regulators and responses to compliance inquiries

How Should ETF Issuers Manage Third-Party Marketing Partnerships?

Third-party marketing partnerships require comprehensive compliance oversight to ensure that external partners maintain regulatory standards while representing ETF products to advisor and investor audiences. Asset managers remain ultimately responsible for compliance across all marketing channels, including partner-generated content.

Effective partner management combines contractual compliance requirements with ongoing monitoring and support, ensuring that marketing partners understand regulatory obligations and maintain standards throughout campaign execution.

Partnership compliance framework:

• Due diligence procedures: Assessment of partner compliance capabilities and regulatory history
• Contractual compliance terms: Specific obligations for regulatory adherence and material approval
• Training and support: Education programs ensuring partners understand ETF marketing requirements
• Ongoing monitoring: Surveillance systems for partner-generated content and campaigns
• Performance metrics: Compliance KPIs integrated into partner evaluation and compensation
• Termination procedures: Clear processes for addressing compliance failures or regulatory issues

Third-Party Marketing Agreement: Legal contract establishing compliance obligations, approval processes, and monitoring requirements for external marketing partners promoting ETF products to investor audiences. These agreements ensure regulatory accountability across all distribution channels. Learn more

What Are the Compliance Requirements for Performance Comparisons?

ETF performance comparison marketing must meet specific regulatory standards that ensure fair, accurate, and meaningful presentations of relative performance data. These requirements address benchmark selection, calculation methodologies, and disclosure obligations when positioning ETF performance against indices or competitor products.

Comparison compliance focuses on ensuring that investors receive context necessary to evaluate performance data meaningfully, including understanding of benchmark construction, fee impacts, and performance measurement periods.

Performance comparison requirements:

• Benchmark appropriateness: Index selection that reflects ETF investment strategy and risk profile
• Calculation consistency: Identical time periods and methodologies for all compared performance data
• Fee adjustment disclosure: Clear presentation of gross versus net performance impacts
• Statistical significance: Appropriate time periods for meaningful performance evaluation
• Risk-adjusted metrics: Inclusion of volatility or other risk measures when emphasizing returns
• Market context: Discussion of market conditions affecting performance periods

How Do Compliance Requirements Vary by ETF Strategy Type?

Different ETF strategies face varying compliance emphasis based on their specific risk profiles, target markets, and regulatory classification. Leveraged ETFs, thematic strategies, and alternative investment approaches require enhanced disclosure and risk communication compared to broad market index funds.

Strategy-specific compliance frameworks must address the unique risks and characteristics that differentiate specialized ETF products from traditional index funds, ensuring that marketing materials appropriately communicate these distinctions to target audiences.

Strategy-specific compliance considerations:

Leveraged and Inverse ETFs:

• Daily rebalancing risk disclosure and compounding effects
• Enhanced risk warnings about volatility and principal loss
• Clear communication about intended holding periods
• Prohibition on marketing to inappropriate investor segments

Thematic and Sector ETFs:

• Concentration risk disclosure for specialized strategies
• Market timing and cyclical risk communication
• Benchmark selection challenges and alternatives
• Performance volatility expectations

Alternative Strategy ETFs:

• Complex strategy explanation requirements
• Correlation and diversification benefit limitations
• Fee disclosure for multi-layered investment approaches
• Liquidity risk communication for specialized markets

What Training Programs Support ETF Marketing Compliance?

Comprehensive compliance training programs ensure that marketing teams understand regulatory requirements, recognize compliance risks, and implement proper procedures across all ETF promotional activities. Training must address both foundational regulatory knowledge and practical application in marketing workflows.

Effective training programs combine regulatory education with practical application, enabling marketing professionals to identify compliance issues and implement appropriate solutions in their daily activities.

Training program components:

• Regulatory foundations: SEC and FINRA rules governing ETF marketing and advertising
• Performance marketing standards: Calculation requirements and presentation obligations
• Risk disclosure frameworks: Identifying and communicating material risks effectively
• Digital marketing compliance: Platform-specific requirements and monitoring obligations
• Case study analysis: Review of compliance successes and failures in ETF marketing
• Practical application: Hands-on exercises in compliance review and approval processes
• Regulatory updates: Ongoing education about evolving compliance requirements

How Can Technology Support ETF Marketing Compliance?

Technology solutions enhance ETF marketing compliance through automated review processes, comprehensive documentation systems, and real-time monitoring capabilities. These tools help asset managers scale compliance oversight while reducing manual review burdens and improving consistency.

Compliance technology integration enables systematic oversight of marketing activities while providing audit trails and documentation necessary for regulatory examination and internal compliance management.

Technology compliance applications:

• Approval workflow systems: Digital processes for marketing material review and principal approval
• Performance data validation: Automated verification of return calculations and benchmark comparisons
• Risk disclosure libraries: Template systems ensuring consistent and comprehensive risk communication
• Social media monitoring: Surveillance tools for digital marketing compliance across platforms
• Documentation management: Centralized systems for maintaining compliance records and audit trails
• Training platforms: Digital education systems for ongoing compliance education and testing

What Are Common ETF Marketing Compliance Violations?

Common ETF marketing compliance violations typically involve inadequate risk disclosure, misleading performance presentations, or insufficient approval documentation. Understanding these frequent issues helps asset managers implement preventive measures and focus compliance attention on high-risk areas.

Violation patterns often reflect systemic compliance weaknesses rather than isolated incidents, highlighting the importance of comprehensive compliance frameworks that address root causes of regulatory issues.

Frequent compliance violations:

• Inadequate risk disclosure: Missing or insufficient warnings about principal loss and market volatility
• Misleading performance presentation: Cherry-picked time periods or inappropriate benchmark comparisons
• Insufficient disclaimer prominence: Risk warnings buried in footnotes or presented in inadequate formats
• Unapproved marketing materials: Distribution of content without proper principal review and approval
• Unsubstantiated claims: Marketing assertions lacking proper documentation or regulatory support
• Social media compliance gaps: Digital content lacking appropriate risk disclosure or regulatory language

How Should Compliance Programs Address Regulatory Updates?

ETF marketing compliance programs must incorporate systematic processes for monitoring, evaluating, and implementing regulatory changes that affect marketing standards and requirements. The regulatory environment evolves continuously, requiring proactive adaptation of compliance frameworks.

Effective regulatory update management combines monitoring systems with implementation processes, ensuring that compliance programs remain current with evolving SEC, FINRA, and other regulatory requirements.

Regulatory update framework:

• Monitoring systems: Systematic tracking of regulatory proposals and final rules affecting ETF marketing
• Impact assessment: Analysis of regulatory changes on existing compliance policies and procedures
• Implementation planning: Systematic approach to updating compliance frameworks for regulatory changes
• Training updates: Revised education programs incorporating new regulatory requirements
• Documentation revision: Updates to compliance policies, procedures, and template materials
• Communication protocols: Systems for informing stakeholders about regulatory changes and compliance implications

Frequently Asked Questions

Basics

1. What is ETF marketing compliance?

ETF marketing compliance encompasses the regulatory requirements and internal procedures that asset managers must follow when promoting exchange-traded funds to investors and advisors. This includes SEC advertising rules, FINRA communication standards, and specific disclosure requirements for performance data and risk information.

2. Which regulators oversee ETF marketing activities?

The Securities and Exchange Commission (SEC) provides primary oversight through Investment Company Act regulations, while FINRA governs broker-dealer communications under Rule 2210. State securities regulators may also have jurisdiction depending on distribution methods and target audiences.

3. Do all ETF marketing materials require regulatory approval?

Not all materials require regulatory filing, but most require internal principal approval. Public communications distributed by broker-dealers must receive pre-approval under FINRA Rule 2210, while certain materials may require SEC filing depending on content and distribution scope.

4. How often should compliance policies be updated?

Compliance policies should be reviewed annually and updated whenever regulatory requirements change. Asset managers should monitor SEC and FINRA guidance regularly and update procedures within 60-90 days of significant regulatory changes.

5. What documentation must be maintained for compliance purposes?

Asset managers must maintain records of all marketing materials, approval documentation, performance calculations supporting marketing claims, compliance training records, and any regulatory correspondence for periods specified by SEC and FINRA recordkeeping requirements.

How-To

6. How should asset managers structure marketing material approval processes?

Establish a systematic workflow requiring legal and compliance review before marketing materials are distributed. Designate qualified principals for approval authority, create standard review timelines, and maintain documentation of all approval decisions and rationale.

7. What steps ensure performance data compliance in marketing materials?

Verify all performance calculations using standardized methodologies, include appropriate benchmark comparisons, ensure risk-adjusted metrics accompany return data, and maintain documentation supporting all performance claims with current data as of specified dates.

8. How can firms monitor social media marketing compliance?

Implement automated monitoring tools for social media content, establish pre-approval requirements for social media posts containing performance or investment information, train social media managers on compliance requirements, and maintain records of all social media communications.

9. What procedures should govern third-party marketing partnerships?

Conduct due diligence on marketing partners' compliance capabilities, establish contractual compliance requirements, provide comprehensive training on regulatory standards, implement ongoing monitoring systems, and maintain clear termination procedures for compliance failures.

10. How should firms handle compliance violations when discovered?

Immediately cease distribution of non-compliant materials, assess the scope and impact of violations, implement corrective measures, document remedial actions taken, and consider whether regulatory self-reporting is appropriate based on violation severity and scope.

Comparison

11. How do compliance requirements differ between retail and institutional ETF marketing?

Institutional marketing generally allows more sophisticated communication and detailed strategy discussion, while retail marketing requires enhanced risk disclosure and simplified language. Both must meet core SEC and FINRA standards, but institutional audiences may receive more complex performance analysis and strategy explanation.

12. What distinguishes ETF compliance requirements from mutual fund marketing rules?

ETF marketing must address unique characteristics like intraday trading, creation/redemption mechanisms, and potential tracking differences. Both follow Investment Company Act requirements, but ETFs require additional disclosure about market price versus NAV and liquidity considerations.

13. How do leveraged ETF marketing requirements compare to traditional ETF compliance?

Leveraged ETFs require enhanced risk disclosure about daily rebalancing effects, compounding impacts, and volatility amplification. Marketing materials must emphasize short-term trading orientation and include stronger warnings about long-term holding risks compared to traditional index ETFs.

14. Do digital marketing compliance requirements differ from traditional advertising rules?

Digital marketing follows the same fundamental compliance principles but requires adapted implementation for platform constraints, character limitations, and real-time interaction capabilities. Social media compliance often uses abbreviated disclaimers and linked disclosure systems while maintaining regulatory intent.

Troubleshooting

15. What should firms do if marketing materials contain performance calculation errors?

Immediately withdraw incorrect materials from all distribution channels, calculate accurate performance data using proper methodologies, redistribute corrected materials to all recipients, document the error and correction process, and assess whether regulatory notification is required.

16. How should compliance issues in viral social media content be addressed?

Act quickly to address compliance gaps through platform-appropriate corrections, consider whether post deletion or modification is necessary, engage with regulatory counsel if content reached significant audiences, document response actions taken, and review social media policies to prevent similar issues.

17. What steps resolve conflicts between marketing effectiveness and compliance requirements?

Work with compliance counsel to find creative solutions that meet regulatory requirements while supporting marketing objectives, consider alternative messaging approaches that achieve similar marketing goals, prioritize long-term regulatory relationships over short-term marketing gains, and document decision-making rationale for future reference.

18. How can firms address compliance resource constraints while maintaining standards?

Invest in compliance technology for automated review processes, develop standardized templates and approval workflows, consider outsourcing compliance review to specialized providers, prioritize high-impact marketing activities for resource allocation, and cross-train marketing staff on basic compliance requirements.

Advanced

19. How do compliance requirements adapt for international ETF marketing?

International marketing must comply with both U.S. regulations and foreign jurisdiction requirements, requiring coordination between legal teams in multiple countries. Consider local advertising standards, performance presentation requirements, and regulatory approval processes while maintaining U.S. compliance standards.

20. What compliance considerations apply to ETF marketing attribution and performance measurement?

Attribution analysis in marketing materials must use standardized calculation methodologies, include appropriate benchmarks and time periods, disclose limitations of attribution models, and maintain documentation supporting all performance attribution claims with regular validation of calculation accuracy.

21. How should firms approach compliance for emerging ETF marketing channels?

Apply existing regulatory principles to new marketing channels while adapting implementation for channel-specific characteristics, consult with regulatory counsel about novel compliance approaches, monitor regulatory guidance development for new channels, and document compliance rationale for innovative marketing approaches.

Compliance/Risk

22. What liability risks exist for ETF marketing compliance failures?

Compliance failures can result in regulatory enforcement actions, investor lawsuits, reputational damage, and business relationship impacts. Asset managers face potential fines, business restrictions, and individual sanctions depending on violation severity and frequency.

23. How do fiduciary obligations affect ETF marketing compliance?

Fiduciary duties require asset managers to prioritize investor interests in all marketing communications, ensuring that promotional materials provide fair and balanced information necessary for informed investment decisions without misleading or omitting material information.

24. What insurance considerations support ETF marketing compliance programs?

Professional liability insurance should cover regulatory compliance failures and related legal costs, while directors and officers coverage protects individuals involved in compliance oversight. Review policy terms to ensure adequate coverage for marketing-related regulatory issues and investor claims.

25. How do compliance requirements address conflicts of interest in ETF marketing?

Disclosure requirements mandate clear communication of material conflicts, including revenue sharing arrangements, advisory relationships, and other business connections that could influence marketing content. Establish policies preventing conflicts from compromising marketing objectivity and investor disclosure.

Conclusion

ETF marketing compliance requires systematic frameworks that integrate regulatory requirements into all promotional activities while enabling effective communication with advisor and investor audiences. Asset managers must balance compliance obligations with marketing effectiveness through comprehensive policies, training programs, and oversight systems that ensure regulatory adherence across all marketing channels and partnerships.

When evaluating ETF marketing compliance programs, consider the comprehensiveness of approval processes, adequacy of risk disclosure frameworks, effectiveness of third-party oversight systems, quality of compliance training and education, and robustness of documentation and monitoring capabilities. Successful compliance programs prevent regulatory issues through systematic prevention rather than reactive correction.

For ETF issuers and asset managers seeking to develop comprehensive marketing compliance frameworks that meet regulatory requirements while supporting effective distribution strategies, explore WOLF Financial's specialized compliance consulting and institutional marketing services.

References

1. Securities and Exchange Commission. "Investment Company Act of 1940." SEC.gov. https://www.sec.gov/investment/investment-company-act-1940
2. Financial Industry Regulatory Authority. "FINRA Rule 2210: Communications with the Public." FINRA.org. https://www.finra.org/rules-guidance/rulebooks/finra-rules/2210
3. Securities and Exchange Commission. "SEC Staff Guidance on ETF Advertising." SEC.gov. https://www.sec.gov/investment
4. Investment Company Institute. "ETF Marketing and Compliance Guidelines." ICI.org. https://www.ici.org
5. Securities and Exchange Commission. "Investment Adviser Marketing Rule." SEC.gov. https://www.sec.gov/rules/final/2020/ia-5653.pdf
6. Financial Industry Regulatory Authority. "Digital Communications Guidance." FINRA.org. https://www.finra.org/rules-guidance/guidance/reports/digital-investment-advice
7. Securities and Exchange Commission. "ETF Regulatory Structure and Compliance." SEC.gov. https://www.sec.gov/investment/exchange-traded-funds
8. North American Securities Administrators Association. "State Securities Regulation." NASAA.org. https://www.nasaa.org
9. Investment Company Institute. "ETF Performance Marketing Standards." ICI.org. https://www.ici.org/policy/etf
10. Securities and Exchange Commission. "Form N-1A Filing Requirements." SEC.gov. https://www.sec.gov/forms/formn-1a
11. Financial Industry Regulatory Authority. "Supervision and Compliance Guidelines." FINRA.org. https://www.finra.org/rules-guidance/guidance/supervision
12. Securities and Exchange Commission. "Investment Company Advertising Guidelines." SEC.gov. https://www.sec.gov/investment/investment-adviser-marketing

Important Disclaimers

Disclaimer: Educational information only. Not financial, legal, medical, or tax advice.

Risk Warnings: All investments carry risk, including loss of principal. Past performance is not indicative of future results.

Conflicts of Interest: This article may contain affiliate links; see our disclosures.

Publication Information: Published: 2025-11-03 · Last updated: 2025-11-03

About the Author

Author: Gav Blaxberg, Founder, WOLF Financial
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