References

FINRA 2210(c)(2)(A) and (C). Communications with the Public.

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

Guidance: Advertising Regulation Frequently Asked Questions (FAQ)

  • Source: FINRA
  • Type: Guidance
  • Date:

Update Alert

FINRA has proposed changes to this regulation.

Summary

FINRA Rule 2210 requires that certain retail communications that include certain performance and volatility ratings be filed at least 10 business days prior to first use.

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At least 10 business days prior to first use or publication (or such shorter period as the Department may allow), a member must file the following retail communications with the Department and withhold them from publication or circulation until any changes specified by the Department have been made:

(A) Retail communications concerning registered investment companies (including mutual funds, exchange-traded funds, variable insurance products, closed-end funds and unit investment trusts) that include or incorporate performance rankings or performance comparisons of the investment company with other investment companies when the ranking or comparison category is not generally published or is the creation, either directly or indirectly, of the investment company, its underwriter or an affiliate. Such filings must include a copy of the data on which the ranking or comparison is based.
(C) Retail communications concerning bond mutual funds that include or incorporate bond mutual fund volatility ratings, as defined in Rule 2213.

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What communications must be filed with FINRA prior to use?

The following retail communications must be filed at least 10 business days prior to first use or publication: . . .

  • retail communications that contain bond mutual fund volatility ratings;
  • retail communication that include rankings or performance comparison information that is not generally published or that is created by the investment company . . .

Notes

None