notices - See details
Notices
AM
Andrew Mylott (not verified)
3rd April 2016 | 2:37pm

There is at least one significant regulatory pitfall here, and that is the SEC rule prohibiting client testimonials in adviser advertising. An adviser placing a static sample of favorable client comments on its website is understandably frowned upon due to the potential for abuse. But there is no reason in this day and age that advisers' compliance personnel should be expected to police the flow of unsolicited, arms-length statements on social media. The SEC should rectify this impediment.