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.
Retail communications can be excepted from principal pre-approval if another firm has filed it with the FINRA Advertising Regulation Department and received a letter that it was consistent with applicable standards, as long as the new firm using the communication has not materially altered it and will not use it in a manner inconsistent with FINRA’s letter. Retail communications that do not make any financial or investment recommendations are excepted, or otherwise promote a product or service of the member. Any retail commu
