On this Ropes & Gray podcast, Alyssa Horton and Colleen Meyer, both counsel in the private funds regulatory group, explore the recent SEC staff guidance on the Marketing Rule. They discuss the new FAQs issued on March 19, 2025, which address the presentation of investment-level returns and investment characteristics. Colleen and Alyssa provide a comprehensive overview of the history behind these FAQs, the operational challenges faced by advisers, and the significant changes brought by the new guidance. Listen in to gain valuable insights on how to effectively implement these updates in your marketing materials and ensure compliance with the Marketing Rule.