Long-form on the SEC Marketing Rule

Plain-English analysis of enforcement, risk alerts, and the slippery edge cases where Marketing Rule compliance actually breaks down in practice.

• April 29, 2026 · 11 min read

  A field guide to "fair and balanced" under the Marketing Rule

  The phrase "fair and balanced" appears in three of the seven general prohibitions of Rule 206(4)-1 and governs everything from how you discuss benefits to how you present performance — yet it’s the most subjective standard the rule uses. A working definition, the five tests examiners actually apply, and the six failure patterns that show up most.

• April 28, 2026 · 10 min read

  Why "past performance" disclaimers don’t satisfy Rule 206(4)-1

  The "past performance is not indicative of future results" disclaimer is the most repeated phrase in adviser marketing. It’s also one of the most misunderstood: it’s neither sufficient on its own nor what the rule actually asks for. What the disclaimer does, what it doesn’t, and the five performance patterns it cannot save.

• April 27, 2026 · 10 min read

  The testimonial disclosure that gets every adviser in trouble

  Of the four mandatory testimonial disclosures under Rule 206(4)-1(b)(1)(i), one fails on small-RIA marketing surfaces more often than the other three combined. A field walk-through of the failure pattern, why it persists, and how to fix every instance on your site this week.

• April 26, 2026 · 11 min read

  What the December 2025 SEC risk alert actually means for solo RIAs

  A field-guide reading of the Division of Examinations’ fourth Marketing Rule risk alert — nine findings, three buckets, and a same-week fix-list for a one-to-three-person firm that doesn’t have a compliance department.

• April 25, 2026 · 9 min read

  Every SEC Marketing Rule enforcement action, indexed

  A running ledger of every public enforcement action brought under SEC Rule 206(4)-1 since the rule’s November 2022 compliance date. What each firm did, what it cost them, and what the pattern across cases tells you about what examiners will bring next.