Its official. The Marketing Rule was published in the Federal Register this morning on March 5, 2021. This means that the rule will become effective on May 4, 2021. The new rule contemplates an eighteen-month transition period between the effective date of the rule and the compliance date. This means your firm should be prepared to comply by November 4, 2022. You should immediately begin reviewing all of your current solicitor and referral relationships and existing marketing. You should also begin developing policies and procedures designed to comply with the new rule.
For a summary of the new rule, please visit here.
For “A Running List of Practical Pointers Under the New Marketing Rule” please visit here.