Communication Categories
Chapters in this video
- 0:00 The three categories: retail, institutional, and correspondence
- 1:29 The magic number 25 and the rolling 30-day trap
- 3:03 Who counts as institutional: the $50 million toddler
- 4:20 Public appearances versus scripted retail communications
- 5:23 The compliance decision tree for classification
- 6:25 Rapid-fire exam recap
What this video covers
- Why the 25 retail investor threshold is the magic number that separates correspondence from retail communication
- How the rolling 30 calendar day period works, and why 26 individual emails sent one by one still triggers retail communication
- Who qualifies as an institutional investor, including why a natural person with $50 million in total assets counts as institutional
- What makes a communication institutional versus retail versus correspondence when the audience is mixed or unclear
- Why unscripted speaking is a public appearance, but reading from a script to more than 25 retail investors becomes a retail communication requiring principal pre-approval
- How internal communications are excluded from all three categories entirely, and why they are never correspondence
- Walking the compliance decision tree step by step to classify any written, electronic, or spoken communication on exam day
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