Rules and Sources

Founder

Rules last updated November 1, 2026 · Reviewed monthly; next review December 1, 2026

This page lists every check the Founder runs and the rules each check comes from. Florida checks run for firms in or serving Florida. Each month we open every source below, compare it with the checks, and update the audit if anything changed.

Primary sources

Federal

SEC Marketing Rule, 17 CFR 275.206(4)-1 Testimonials, endorsements, performance, ratings and hypothetical performance. Checked November 1, 2026.
SEC Marketing Rule FAQ (last updated Jan. 15, 2026) Staff positions on net and gross performance, extracted performance and third-party ratings. Checked November 1, 2026.
Advisers Act Rule 204-3 and Form ADV Part 2A Firm brochure delivery. Checked November 1, 2026.
Form CRS, 17 CFR 275.204-5 Posting the relationship summary on the public website. Checked November 1, 2026.
Regulation S-P amendments, compliance dates Privacy notice and incident response; in force for all firms since June 3, 2026. Checked November 1, 2026.

National standards

FINRA Rule 2210, communications with the public BrokerCheck link, 2210(d)(8); fair and balanced content. Checked November 1, 2026.
SEC approval of FINRA 2210 projections amendment Projections and targeted returns; approved, effective date pending. Checked November 1, 2026.

Florida

Fla. Admin. Code 69W-600.0131, state-registered adviser conduct Applies the SEC Marketing Rule to Florida state-registered advisers. Checked November 1, 2026.

Changes we are watching

These are proposed or pending. The audit does not enforce them until they take effect.

FINRA 2210 projections amendment, effective date to be announced.
FINRA 2210 broader modernization proposal.

Every check the audit runs (21)

Check	Rule	Applies
Form ADV Part 2A is findable	SEC Form ADV Part 2A; Advisers Act Rule 204-3(b)	All firms
Form CRS relationship summary is linked	SEC Form CRS; Advisers Act Rule 204-5(b)(3)	All firms
Testimonials carry 206(4)-1 disclosures	SEC Rule 206(4)-1(b)(1) (Marketing Rule); Fla. Admin. Code 69W-600.0131 (Florida state-registered advisers)	All firms
Performance claims carry required disclosures	SEC Rule 206(4)-1(d)(1)-(2) (Marketing Rule); Fla. Admin. Code 69W-600.0131 (Florida state-registered advisers)	All firms
Awards and ratings are disclosed properly	SEC Rule 206(4)-1(c) (Marketing Rule); Fla. Admin. Code 69W-600.0131 (Florida state-registered advisers)	All firms
Form ADV link appears current	Advisers Act Rules 204-1(a)(1) and 204-3(b)(2)	All firms
Compensation model clearly disclosed	Form ADV Part 2A Item 5; Form CRS; Advisers Act §206	All firms
Regulatory disclosures page is reachable from footer	SEC Marketing Rule; Advisers Act general disclosure obligations	All firms
Social media links carry archiving acknowledgment	Advisers Act Rule 204-2; FINRA Rules 2210 and 4511	All firms
Form CRS link is substantive, not a placeholder	SEC Form CRS; Advisers Act Rule 204-5(b)(3)	All firms
BrokerCheck is linked (FINRA member firms and their reps)	FINRA Rule 2210(d)(8)	All firms
States the site is not an offer of securities	Securities Act of 1933; Regulation D Rule 502(c) and Rule 506(c)	All firms
Capital raising for others: registration basis is clear	Securities Exchange Act of 1934 §15(a) and §3(a)(4); SEC Guide to Broker-Dealer Registration	All firms
No specific offerings or target returns on public pages	Regulation D Rule 502(c) and Rule 506(c)	All firms
Return, IRR and deal-volume figures carry a source and caveat	Securities Act §17(a); Exchange Act Rule 10b-5; FTC Act §5	All firms
Privacy policy is linked	Regulation S-P (17 CFR Part 248); FTC Act §5	All firms
Contact forms carry a privacy notice	FTC Act §5	All firms
Texting has written consent language	TCPA, 47 U.S.C. §227; Fla. Stat. §501.059	All firms
Florida: registration status stated plainly	Fla. Stat. §517.12; Fla. Admin. Code 69W-600.0131	Florida
Florida: capital raising and dealer registration	Fla. Stat. §517.12(1)	Florida
Florida: "CPA" and "audit" claims are backed by a license	Fla. Stat. §473.322(1)(b)-(c); §473.302(8)(a)	Florida

Run the Founder · All audits

This page explains what our automated scan checks. It is not legal advice, and a passing check is not a finding of compliance. Have a licensed professional review your marketing before you rely on it.