SEC: Compliance date for Reg S-AM delayed
The compliance date has been extended for an SEC regulation that limits the use of an affiliate's client information for marketing purposes.
The compliance date has been extended for an SEC regulation that limits the use of an affiliate’s client information for marketing purposes. Regulation S-AM is intended to prevent investment advisers and the like from using certain customer information provided by an affiliate to market products unless the consumer has been given the opportunity to opt out of such solicitations. The compliance date, originally scheduled for Jan. 1, is now set for June 1. For more details, visit sec.gov/rules/final/2009/34-60946.pdf.
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