Securities and Exchange Commission December 10, 2019 – Federal Register Recent Federal Regulation Documents

The Securities and Exchange Commission (the ``Commission'' or the ``SEC'') is proposing amendments under the Investment Advisers Act of 1940 (the ``Advisers Act'' or the ``Act'') to the rules that prohibit certain investment adviser advertisements and payments to solicitors, respectively. The proposed amendments to the advertising rule reflect market developments since the rule's adoption in 1961. The proposed amendments to the solicitation rule update its coverage to reflect regulatory changes and the evolution of industry practices since we adopted the rule in 1979. The Commission is also proposing amendments to Form ADV that are designed to provide the Commission with additional information regarding advisers' advertising practices. Finally, the Commission is proposing amendments under the Advisers Act to the books and records rule, to correspond to the proposed changes to the advertising and solicitation rules.