Survey: Investment adviser compliance ramps up testing on advertising, marketing

Business success

The most popular mock exams conducted by compliance professionals at investment adviser firms this year have been on the Securities and Exchange Commission’s (SEC) advertising/marketing rule, according to a new poll.

Of the 581 respondents to an online survey conducted by the Investment Adviser Association (IAA), ACA Group, and Yuter Compliance Consulting in May, 64 percent said they either conducted mock exams already this year or have plans to do so. Twenty-nine percent of respondents said they had not scheduled mock exams this year.

Of those firms to report conducting mock exams, 69 percent said the exams focused on advertising/marketing, up from 48 percent a year ago. Other popular exam areas included cybersecurity (65 percent); electronic communications surveillance (57 percent); vendor due diligence (44 percent); and environmental, social, and governance (40 percent).

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