17 CFR § 275.206(4)-1, broken down section by section

General prohibitions (7)

Seven categories of conduct prohibited in any advertisement.

• (a)(1)General prohibition: untrue statements / material omissions
• (a)(2)General prohibition: lack of reasonable basis for material statements of fact
• (a)(3)General prohibition: misleading implications or inferences
• (a)(4)General prohibition: discussion of benefits without fair/balanced discussion of risks/limitations
• (a)(5)General prohibition: references to specific investment advice that are not fair and balanced
• (a)(6)General prohibition: performance results that are not fair and balanced
• (a)(7)General prohibition: otherwise materially misleading advertisements

Testimonials and endorsements (7)

Disclosures, oversight, written agreements, and ineligible-person prohibitions.

• (b)(1)(i)(A)Testimonial/endorsement: required disclosure of client / non-client status
• (b)(1)(i)(B)Testimonial/endorsement: required disclosure of compensation (cash or non-cash)
• (b)(1)(i)(C)Testimonial/endorsement: required disclosure of material conflicts of interest
• (b)(1)(ii)Testimonial/endorsement: additional disclosures (material terms of comp, conflicts) at time of dissemination
• (b)(2)Testimonial/endorsement: clear and prominent disclosure of (b)(1)(i) at time of dissemination
• (b)(3)Testimonial/endorsement: adviser oversight and written agreement requirement
• (b)(4)Testimonial/endorsement: prohibition on compensating ineligible (disqualified) persons

Third-party ratings (1)

Due-diligence and disclosure requirements for ratings used in marketing.

• (c)Third-party ratings: due diligence and disclosure requirements

Performance advertising (7)

Gross vs. net, prescribed time periods, related, extracted, hypothetical, and predecessor performance.

• (d)(1)Performance: gross performance must be presented with net performance
• (d)(2)Performance: standardized 1-, 5-, and 10-year time periods (non-private-fund)
• (d)(3)Performance: prohibition on representations that SEC has approved or reviewed any calculation/presentation
• (d)(4)Performance: related performance must include all related portfolios
• (d)(5)Performance: extracted performance must provide / offer the total portfolio performance
• (d)(6)Performance: hypothetical performance — policies, info needs, conditions/limitations
• (d)(7)Performance: predecessor performance — substantially similar accounts, key personnel transferred

Definitions (5)

Statutory definitions of advertisement, testimonial, endorsement, and others.

• (e)(1)Definition: Advertisement
• (e)(10)Definition: Net performance
• (e)(17)Definition: Testimonial
• (e)(5)Definition: Endorsement
• (e)(8)Definition: Hypothetical performance

Run any of these on your own marketing copy.