FINRA Regulatory Notice 12–29

FINRA Regulatory Notice 12–29, SEC Approves New Rules Governing Communications With the Public, includes details on the new SEC-approved FINRA rules governing broker-dealers’ communication with the public. The rules went into effect on February 4, 2013.

Included in the changes is a reduced number of communication categories from six down to three: retail communication, institutional communication and correspondence.

  • Retail Communication: Any written (including electronic) communication that is distributed or made available to more than 25 retail investors within any 30 calendar-day period.
  • Institutional Communication: Any written (including electronic) communication that is distributed or made available only to institutional investors, but does not include a member’s internal communications.
  • Correspondence: Any written (including electronic) communication that is distributed or made available to 25 or fewer retail investors within any 30 calendar-day period.

 

Smarsh, Inc. assumes no liability for the accuracy or completeness of this information. Please consult with an attorney for specific information on specific rules and regulations and how they apply to your business.

Helpful Links:
An executive summary of Regulatory Notice 12–29 from FINRA

PDF of FINRA 12–29

Related Industries:

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