Public Communications and Advertising: Rapid Fire

What this video covers

• The 25-retail-instructor threshold that divides retail communication from correspondence, and why the rolling 30-calendar-day window (not per mailing) determines classification
• Principal pre-approval for retail communications versus written review procedures for institutional communications, and the $50 million total-assets threshold that defines an institutional investor
• New member firms filing 10 business days before first use versus established member firms filing within 10 business days after first use
• How unscripted spoken words at seminars count as public appearances (supervised, not pre-approved) while handouts and slides to the same audience are retail communications requiring pre-approval
• Options Disclosure Document (ODD) delivery requirements: triggered by account approval (not first trade), with hyperlink delivery permitted
• The IPO quiet period (10 days for all syndicate managers and members) versus the secondary offering quiet period (3 days for managers and co-managers only)
• Product-specific disclosure lines including standardized mutual fund performance periods (1, 5, and 10 years), the rule that bond fund volatility ratings are never risk ratings, full "Collateralized Mortgage Obligation" naming in retail communications, and variable annuity guarantees depending on insurer claims-paying ability