Series 6: 1.3.3. Approval And Recordkeeping

1.3.3. Approval and Recordkeeping

Retail communications. 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 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 a