8.4.2.1.2. Advertisements
An advertisement is any published material used in public media or promotional literature made available to customers or the public about the products or services of a broker-dealer. These materials include any notice, circular, report, market letter, form letter, telemarketing script, seminar text, press release, reprint of a published article, or any excerpt of any of these:
• A form letter is any written or electronic mail message distributed to more than 25 persons within a 90-day period. A written or electronic message distributed to 25 or fewer persons is considered correspondence and falls under the rules for public correspondence.
• A professional advertisement adve