General prohibition: untrue statements / material omissions
An advertisement may not include any untrue statement of a material fact, or omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it was made, not misleading.
What violations look like
We're projecting another double-digit year for our clients in 2026 as the Fed pivots.
Why it's flagged: Forecasting a specific return range without a documented reasonable basis is the textbook example of an untrue statement of material fact.
Remove the projection. Replace with commentary on macro conditions without forecasting a return range.
Run Rule 206(4)-1(a)(1) on your own copy.
Paste any draft — LinkedIn post, newsletter, website copy — and Safe to Publish flags the Rule 206(4)-1(a)(1) issues with citations to the rule and a suggested rewrite.
Start free trial →This page is for educational purposes and is not legal advice. Safe to Publish is not a law firm. Compliance decisions remain the responsibility of the registered investment adviser. See Terms.