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Testimonial Statements Endorsements Disclosure Requirements

BakerHostetler

An Endorsement for the FAQs on the Consumer Reviews and Testimonials Rule

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Our team recently attended the ANA Masters of Advertising Law Conference and had the great fortune to hear Serena Viswanathan, associate director for the FTC’s Advertising Practices Division, discuss the Rule on the Use of...more

Venable LLP

Foul! SEC Faults Investment Adviser for Inadequate Disclosures on Professional Athlete Endorsements

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The Federal Trade Commission (FTC) isn’t the only regulator in town when it comes to endorsements and testimonials. The Securities and Exchange Commission (SEC) regulates investment adviser marketing under its “Marketing...more

Lowenstein Sandler LLP

SEC Settles Against Nine Investment Advisers for Marketing Rule Violations, Underscoring the Continued Priority of Marketing Rule...

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On September 9, the U.S. Securities and Exchange Commission (SEC) announced another series of settlements with registered investment advisers for violations of Rule 206(4)-1, as amended (Marketing Rule), under the Investment...more

BCLP

Part 3: What the FTC’s Final Rule Means for Incentivized Reviews

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In this post, part of a six-part series, we explore what the FTC’s Final Rule on consumer reviews and testimonials means for incentivized reviews. The Final Rule prohibits businesses from providing compensation or other...more

Venable LLP

Façade, Fraud: FTC Final Rule Banning Fake Reviews

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On August 14, the Federal Trade Commission (FTC) announced a final rule aimed at protecting American consumers against fake reviews and testimonials. The rule, approved through a 5-0 vote, comes after nearly two years of...more

Venable LLP

FTC Contemplates Rule Aimed at Combating Deceptive Consumer Reviews

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On Tuesday, February 13, the Federal Trade Commission (FTC) held an informal hearing regarding the Proposed Rule on the Use of Consumer Reviews and Testimonials. Three interested parties each had the opportunity to submit 30...more

Fenwick & West LLP

FTC Announces Updated Endorsement Guides to Combat Deceptive Reviews and Endorsements

Fenwick & West LLP on

On June 29, 2023, the Federal Trade Commission (FTC) announced the publication of long-awaited updates to its Endorsement Guides (Guides), which provide the agency’s official guidance to businesses and other advertisers on...more

Lowenstein Sandler LLP

FTC Promulgates New Rules on Deceptive Endorsements, Fake Reviews, and False Testimonials

Lowenstein Sandler LLP on

Businesses that use and publish endorsements, reviews, or testimonials should be aware of the Federal Trade Commission’s (FTC) updated Endorsement Guides and proposed new rule banning fake reviews and testimonials. Here’s...more

Lerman Senter PLLC

FTC Updates Endorsement Guides and Strengthens Policies Against Fake and Manipulated Reviews

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The Federal Trade Commission has issued its updated Guides Concerning the Use of Endorsements and Testimonials in Advertising (Endorsement Guides). Last updated in 2009, the significantly revised Endorsement Guides focus on...more

Lerman Senter PLLC

FTC Proposes Rule to Eliminate Fake Reviews

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The Federal Trade Commission has proposed a new rule that would make it illegal to post fake reviews and testimonials, suppress negative reviews, or pay for positive reviews....more

Moritt Hock & Hamroff LLP

14 Years Later: FTC Updates The Endorsement Guides

On June 29, 2023, the Federal Trade Commission (FTC) announced its much anticipated and long-awaited updates to the Guides Concerning the Use of Endorsements and Testimonials in Advertising (the Guides). The Guides, which...more

Davis Wright Tremaine LLP

In a One, Two, Three Punch, the FTC Issues Updated Endorsement Guides

The lead-up to the July Fourth holiday was a busy time for endorsement and testimonial watchers—the FTC issued (i) its final, updated Guides to the Use of Endorsements and Testimonials in Advertising, (ii) an updated version...more

Verrill

Never Have I Ever

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We’ve all at least once (and maybe only once) played the surprisingly revealing drinking game “Never Have I Ever”. You know, you go around the table with one person asking, “Never have I ever [fill in the blank]” with the...more

Venable LLP

FTC Finalizes Updated Endorsement and Testimonial Guides

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Thirteen months after proposing sweeping changes to its Endorsements and Testimonial Guides (Guides), the Federal Trade Commission (FTC) has finalized its revised guidelines and released an updated set of FAQs to help guide...more

Hinch Newman LLP

FTC Updates Endorsement Guides and FAQ Guidance Document While Proposing Rule That Will Impact Influencer Marketing and Digital...

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The Federal Trade Commission’s Endorsement Guides were first enacted in 1980 and amended in 2009. The Guides provide guidance to businesses and others to ensure that advertising using endorsements or testimonials is...more

Hinch Newman LLP

FTC Compliance Attorney Foreshadows Evolving Biz Opp Rule to Include Money-Making, Business Coaching and Mentoring, and eCommerce...

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The Business Opportunity Rule (“Biz Opp Rule”) was first adopted in 2012. It applies to commercial arrangements where a seller solicits a prospective buyer to enter into a new business, the prospective purchaser makes a...more

Seward & Kissel LLP

The New Investment Adviser Marketing Rule: Implications for CLO Managers and Arrangers

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On December 20, 2020, the SEC adopted reforms under the Advisers Act which modernized rules that govern investment adviser advertising and payments to solicitors. On September 19, 2022, the SEC Division of Examinations...more

Venable LLP

Keeping Up with Disclosures: SEC Punishes Kim Kardashian for Crypto Promotion

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​​​​​​​On Monday the U.S. Securities and Exchange Commission issued a cease-and-desist order to Kim Kardashian for failing to disclose that she received $250,000 to promote EthereumMax’s digital tokens, “EMAX tokens,” on...more

Goodwin

Practical Guide to the Application of the Marketing Rule to Private Fund Placement Agents

Goodwin on

This article focuses on how the new Rule 206(4)-1 (the “Marketing Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) affects the relationships between investment advisers registered with the U.S. Securities...more

Hinch Newman LLP

FTC Attorney Tips for Ad Agencies and Review Sites Concerning Proposed Endorsement Guide Rule

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The comment period on the FTC’s proposed rule regarding the use of endorsements and testimonials in advertising ended September 26, 2022. The Request for Comment approved by the Federal Trade Commission in May 2022 sought...more

Holland & Knight LLP

FTC Set to Update Endorsement Guides on Social Media Advertising

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The Federal Trade Commission (FTC) is poised to issue updated Guides Concerning the Use of Endorsements and Testimonials in Advertising (the Guides) following a comment period on the proposed changes. This Holland & Knight...more

Dechert LLP

SEC Adopts Modernized Investment Adviser Marketing Rule Governing Advertisements and Solicitation

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On December 22, 2020, the U.S. Securities and Exchange Commission adopted rule and form amendments to modernize the regulatory framework governing investment adviser advertising and payments to solicitors....more

Faegre Drinker Biddle & Reath LLP

SEC Proposes Wide-Ranging Changes to Investment Adviser Marketing Rules

On November 4, 2019, the Securities and Exchange Commission (SEC) released a proposed rule amendment (the Marketing Amendment) that would substantially modify SEC Rules 206(4)-1 (the Advertising Rule) and 206(4)-3 (the...more

Coblentz Patch Duffy & Bass

Influencer Marketing: Best Practices for Advertisers & Agencies

Influencer marketing saw explosive growth in 2016, with 86% of marketers having used the tactic, 94% of whom found it effective. In 2016, most marketers spent between $25,000 to $50,000 per influencer marketing program, which...more

Dorsey & Whitney LLP

More Guidance for Advertisers and Influencers to Navigate Online Reviews and Endorsements

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Late last week, the International Consumer Protection and Enforcement Network (“ICPEN”) published three sets of guidelines covering online reviews and endorsements. Why does this matter? ICPEN is an informal network of...more

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