Rule context: Form ADV Part 1A, Item 5.L. This generic checklist is not legal advice and does not determine whether any communication is an advertisement or whether any law applies.
Review questions
- Treat filing data as filer-submitted and potentially stale, not regulator-approved.
- Keep empty fields unknown; never convert missing data to “No.”
- Confirm entity, time period, content, and communication scope before comparing.
- Use differences as reconciliation prompts for qualified human review.
Use evidence, then human judgment
Automation can inventory visible text, labels, links, and bounded presentation context. It cannot decide materiality, truth, intended audience, substantiation, compensation, policies, portfolio scope, survey design, calculation accuracy, or legal applicability.
Read the current rule in the eCFR and use qualified legal or compliance personnel for decisions.