Question 1

What is the SEC Marketing Rule for RIAs?

Accepted Answer

The SEC Marketing Rule (Rule 206(4)-1 under the Investment Advisers Act) governs how registered investment advisers may advertise their services. Key requirements include: testimonials and endorsements must include compensation disclosures and material conditions legends; third-party ratings must disclose the criteria, date range, and any compensation; performance advertising must be fair and balanced. The SEC’s December 2025 Risk Alert identified these areas as top examination deficiencies.

BankForge scrapes your public-facing website and Form ADV filings, then scans for the specific disclosures, language patterns, and omissions that SEC examiners look for under Rule 206(4)-1 and Regulation S-P. Every finding is severity-graded with the regulatory citation attached.

Question 2

What does a BankForge RIA compliance review cover?

Accepted Answer

BankForge scrapes your public-facing website and Form ADV filings, then scans for the specific disclosures, language patterns, and omissions that SEC examiners look for under Rule 206(4)-1 and Regulation S-P. Every finding is severity-graded with the regulatory citation attached. The BankForge team reviews all findings before delivery. BankForge flags for counsel review — we never conclude a violation.

Question 3

What are the most common Marketing Rule violations on RIA websites?

Accepted Answer

Based on BankForge analysis of 23,000+ RIA websites and the SEC’s December 2025 Risk Alert, the most common deficiencies are: testimonials displayed without required compensation and material conditions disclosures; third-party ratings shown without criteria, date range, or compensation context; performance advertising without gross/net, time period, and benchmark disclosures; and privacy notices not readily accessible from the homepage.

Question 4

How do I prepare my RIA website for an SEC examination?

Accepted Answer

Start by running a Marketing Rule compliance scan. The SEC Division of Examinations identified marketing practices as a 2026 examination priority. BankForge reviews your website against the same criteria examiners use — testimonial disclosures, performance advertising, third-party ratings, and Reg S-P privacy notice accessibility. Every finding is severity-graded with the specific regulatory citation.

What the SEC Division of Examinations sees when they pull up your RIA's website.

What you need to know.

Your website already has an audience you're not preparing for.