Wednesday, November 17, 2010

Illinois Adopts Rules Regulating IA Advertising and Client Information

Two new rules adopted by the Illinois Securities Department on November 3, 2010:

* Investment advisers registered or required to register in Illinois are prohibited from using advertisements that contain untrue statements of material fact or that are misleading.

* Investment advisers registered or required to register in Illinois are required to have a written consumer privacy policy to protect their clients' information.

See http://www.cyberdriveillinois.com/departments/securities/home.html

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