Industry Associations Applaud Proposed Advertising Rule, but Want Changes

When the SEC unveiled its proposed Advertising Rule in November, it was roundly welcomed by the asset management industry. The proposal was the first reform of the existing Rule in more than half a century, and the principles-based approach it took to advertising regulation made more sense to many than the prescriptive prohibitions of the existing Rule. Now, with a few months to digest and review the proposed Rule, the industry continues to welcome it, but also wants some changes made.
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