Member firms are not required to preapprove correspondence. If they do not pre-approve their correspondence, however, they must have procedures in place to educate and train their representatives on FINRA’s public communication rules. The procedures must require the firm to document such training and provide the necessary surveillance to ensure that the procedures are implemented and obeyed.
Unlike their retail communications, FINRA members do not have to file their correspondence with FINRA. Like their retail communications, member firms must keep a record of their written correspondence and internal communications on file for three years. Such communications may periodically be subject to a spot-check procedure by FINRA’s Advertising Regulation Department, for which the member firm must provide requested materials.
FINRA Rule 3110
Filing Requirements
Retail Communications
General Requirements
• Must be filed with FINRA
• Must be approved by a registered principal
• Must be kept on file for three years
Required Contents
• Name and title of approving principal
• Date approval was given
• Actual or anticipated date of first use
Required Filing Date
1. Reports to be filed by 10th business day following first
