ACA Group (ACA), together with the Investment Adviser Association and Yuter Compliance Consulting, recently released the results of its 2021 investment management compliance testing survey. This article, the second in a two-part series, covers the survey’s findings as to hot topics, the new marketing rule, disclosure to regulators, trading matters and regulatory priorities, with insights from Enrique Alvarez, director at ACA. The first article reviewed the main findings of the study as to compliance programs and testing; advisers’ responses to the coronavirus pandemic; responsible investing; and climate change risk. For coverage of another ACA survey, see our two-part series on its 2019 hedge fund survey: “SEC Exam Experience, Codes of Ethics, Electronic Communications and Expense Allocations” (Aug. 8, 2019); and “Insider Trading Controls, Cybersecurity, Valuation, Marketing and Custody” (Aug. 15, 2019).