SIE: Approval And Recordkeeping

Approval and Recordkeeping

Retail communications. A registered principal must approve retail communications with a signature or initial and date each either before it is used or before it is filed with FINRA, whichever is earlier.

A retail communication does not require principal preapproval if another firm has already filed it with FINRA’s Advertising Regulation Department and received a letter that it was consistent with applicable standards. The new firm must affirm that it will not materially alter the communication and will not use it in a manner inconsistent with FINRA’s letter.

Retail communications that are not research reports and that don’t make any financial or investment recommendations or promote a product or service (e.g., account information) do not require prior principal approval. This includes communications posted on a website. Firms are required to supervise these kinds of communications in the same way as correspondence.

Any communication that is filed with FINRA is subject to preapproval even