Plain-English summaries, violation examples, and links to official text.
Governs all written and electronic communications with the public, including retail communications, correspondence, and institutional communications.
Communications must not contain any false, exaggerated, unwarranted, promissory, or misleading statement or claim.
Communications that discuss the potential benefits of an investment must prominently disclose associated risks.
Superlative claims (e.g., 'best', 'top') must be substantiated with source, methodology, and time period.
Historical performance must include: 'Past performance does not guarantee future results.' Source and time period required.