Series 24: Retail Communications

Retail Communications

A registered principal must approve each retail communication 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 the FINRA advertising 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 serv