Standards and Required Approvals
Chapters in this video
- 0:00 Riley the Rep's megaphone pitch and universal content standards
- 1:35 Public appearances are NOT exempt from content standards
- 2:02 Retail versus institutional approval: SAM the supervisor's role
- 3:20 The magic number: 10 business days and new versus established members
- 4:37 Recordkeeping requirements and the institutional communications trap
- 5:26 Rapid-fire exam recap
What this video covers
- Why content standards based on fair dealing and good faith apply to every communication type, including unscripted public appearances
- How the fair and balanced requirement means risks must accompany any upside hype, and why omitting material facts violates the standard
- The critical distinction that retail communications require principal pre-approval before use, while institutional communications only require written review procedures
- Why correspondence and public appearances fall into the same no-pre-approval category as institutional communications
- The 10-business-day filing rule for new member firms (before first use) versus established member firms (within 10 business days after first use)
- Which retail communications established members must still file: mutual funds, exchange-traded funds (ETFs), variable contracts, structured products, and performance rankings
- Why recordkeeping applies to both retail and institutional communications even when no FINRA filing is required, and what details must be logged
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