Series 28: Communications Filing And Recordkeeping

Communications Filing and Recordkeeping

Almost all communications with the public are strictly regulated by FINRA to ensure their accuracy and fairness. FINRA requires, for example, that a registered principal attest to the truthfulness of nearly all public communications. In addition, many retail communications must be filed with FINRA’s Advertising Regulation Department for review, and member firms must retain copies in their records of all correspondence and retail and institutional communications.

Retail communications. Retail communications are written and electronic communications that will be distributed or made available to more than 25 retail investors within any 30-calendar day period. A registered principal must approve any retail communication that is considered sales literature, general advertising, or which includes a reprint from an independent third-party source. The approval must contain the principal's signature and the date it was granted. The communication must be approved before it is used or before it is filed with FINRA, whichever is ea