Series 82: Retail Communications

Retail Communications

A registered principal must approve with signature or initial and date each retail communication either before it is used or before it is filed with FINRA, whichever is earlier.

Retail communications do not require principal preapproval if another firm has filed it with the FINRA advertising department and received a letter that it was consistent with applicable standards, and if 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 are not research reports and don’t make any financial or investment recommendations or promote a product or service are also excepted—this also includes communications posted on an online site. An example of this kind of communication is information regarding customer accounts. Firms are required to supervise these kinds of communications in the same way as correspondence.

Any communication that is filed with FINRA is sub