References

FINRA 2210(b)(4)(A). Communications with the Public.

  • Source: FINRA
  • Type: Regulation
  • Date: Jan. 6, 2016

17 CFR 240.17a-4(b)(4)(A). Records to be preserved by certain exchange members, brokers and dealers. (Securities Exchange Act Rule 17a-4)

  • Source: SEC
  • Type: Regulation
  • Date: Dec. 22, 1948

Update Alert

Retail communications must be retained for 3 years.

Summary

FINRA has proposed changes to this regulation.

Text

Members must maintain all retail communications and institutional communications for the retention period required by SEA Rule 17a-4(b) and in a format and media that comply with SEA Rule 17a-4. The records must include:

(i) a copy of the communication and the dates of first and (if applicable) last use of such communication;
(ii) the name of any registered principal who approved the communication and the date that approval was given;
(iii) in the case of a retail communication or an institutional communication that is not approved prior to first use by a registered principal, the name of the person who prepared or distributed the communication;
(iv) information concerning the source of any statistical table, chart, graph or other illustration used in the communication; and
(v) for any retail communication for which principal approval is not required pursuant to paragraph (b)(1)(C), the name of the member that filed the retail communication with the Department, and a copy of the corresponding review letter from the Department.

Text

Every member, broker and dealer subject to §240.17a-3 shall preserve for a period of not less than three years, the first two years in an easily accessible place:

(4) Originals of all communications received and copies of all communications sent (and any approvals thereof) by the member, broker or dealer (including inter-office memoranda and communications) relating to its business as such, including all communications which are subject to rules of a self-regulatory organization of which the member, broker or dealer is a member regarding communications with the public. As used in this paragraph (b)(4), the term communications includes sales scripts.

Notes

None