Communications with the Public
Chapters in this video
- 0:00 The three buckets Riley the Representative must juggle
- 1:19 Retail communication: the 25-investor megaphone threshold
- 2:22 The cumulative 30-day gotcha with Ivy the investor
- 4:15 Content standards and the three performance projection exceptions
- 5:25 Why institutional communications still require supervision
- 6:01 Public appearances versus recorded retail communications
- 7:16 New firms and options: when FINRA demands to see your homework
- 8:35 Rapid-fire exam recap
What this video covers
- The three categories of FINRA firm communications: retail communication, correspondence, and institutional communication
- Why 25 retail investors in a rolling 30-calendar-day window is the absolute magic number that separates correspondence from retail communication
- How the 30-day cumulative window works, and why 13 investors on Day 1 plus 13 different investors on Day 15 equals a retail communication
- Why institutional communications skip pre-use principal approval but still require firm supervision, and why no approval does not mean no oversight
- The three narrow exceptions that allow performance projections: hypothetical illustrations of mathematical principles, investment analysis tool reports, and price targets in debt or equity research reports
- How live public appearances differ from their recordings, and when a seminar recording transforms into a retail communication
- When FINRA itself must see the materials: new member firms' first-year filing requirement and the 10-day pre-use filing rule for options communications
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete SIE course in the app is free too, including adaptive practice questions and spaced-repetition flashcards.