On October 29, 2021, the staff of the SEC’s Division of Investment Management issued an information update identifying the staff letters that have been withdrawn or modified by the new “Marketing Rule” under the Investment Advisers Act of 1940. The Marketing Rule overhauls the traditional Advertising Rule under Rule 206(4)-1 and the Cash Solicitation Rule under Rule 206(4)-3 and consolidates each under a single new rule. The Marketing Rule, adopted in December 2020, represents a significant change to how investment advisers can market themselves and their products. Attorneys in Vedder Price’s Investment Services Group have prepared a detailed summary of the Marketing Rule, which is available here. The staff’s information update confirms that investment advisers will no longer be able to rely upon the provisions of the withdrawn letters and will need to ensure compliance with the provisions of the modified letters, as applicable, by the Marketing Rule’s November 4, 2022 compliance date. The SEC staff’s information update and list of withdrawn and modified letters is available here.