Principal Approval Requirements

What this video covers

• Why the retail communication approval deadline is the earlier of first use or filing with the Financial Industry Regulatory Authority (FINRA) Advertising Regulation Department, not simply before use
• How the four exceptions work: three swap approval for correspondence-style supervision and one lifts approval entirely for unaltered previously filed pieces
• Why filing always triggers principal approval even when an exception otherwise applies, since exceptions only excuse approval before use
• What distinguishes retail communications from institutional communications and correspondence in the principal approval hierarchy
• How written supervisory procedures govern institutional communications and correspondence instead of per-piece pre-approval
• The three mandatory safety net elements when a firm skips prior review of every institutional communication: training, documentation, and surveillance with follow-up
• When a firm is out of compliance for skipping institutional review: only when it also lacks the required training, documentation, and surveillance