Principal Approval, Filing, and Recordkeeping

What this video covers

• Which communications require registered principal pre-approval before first use or filing, and which only need written supervisory procedures
• The four exceptions to principal pre-approval: non-recommending pieces, online interactive forums, non-promotional materials, and communications already filed by another member
• Filing timelines with FINRA's Advertising Regulation Department: new members file 10 business days before first use, established members generally file within 10 business days after
• The two ranking categories that flip established members back to pre-use filing: fund-created categories and non-generally-published categories, both requiring underlying data
• What submission information must accompany any FINRA filing: date of first use, principal name and title, approval date, and Central Registration Depository (CRD) number
• The FINRA penalty box: when a firm is forced into pre-use filing, the 21-calendar-day effective period, and the lack of any maximum duration
• The three-year record retention rule counting from last use, not first use, and the readily accessible requirement for the first two years